Soldier Systems Market worth $12.8 Billion by 2027 – Exclusive Report by MarketsandMarkets™
CHICAGO, Feb. 10, 2023 /PRNewswire/ — The soldier system market is projected to grow from USD 10.4 Billion in 2022 to USD 12.8 Billion by 2027, at a CAGR of 4.4% during the forecast period according to a new report by MarketsandMarkets™. Factors such as the emphasis on improving troops situational awareness on the battlefield and the increased incidences of asymmetric warfare are positively driving the growth of the soldier systems market. Furthermore, rising defense spending, particularly in emerging economies, and consequent expenditures in purchasing such systems drive market growth.
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Browse in-depth TOC on “Soldier Systems Market” 185 – Tables
55 – Figures
248 – Pages
Vision type segment is expected to account for the largest share in 2022.
Vision systems include cameras, modules, and scopes used by soldiers for various military missions. Thermal cameras and NVGs are widely adopted among soldiers.
The soldier system market, by type, has been segmented into personal protection, respiratory protective equipment (RPE), communication, power & transmission, surveillance & target acquisition, navigation & health monitoring, vision, exoskeleton, and training & simulation. The demand for soldier systems has increased significantly worldwide due to technological advancements in soldier system devices.
The military segment held the largest market share in the soldier system market
Based on End User, Based on end users, the soldier system market has been classified into military and homeland security. The military segment is estimated to account for the largest share of the soldier system market in 2022. This segment growth can be attributed to the increased deployment of soldier systems in the military to ensure improved communication, enhanced navigation, and efficient situational awareness.
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North America is expected to account for the largest share in 2022
The Soldier System market industry has been studied in North America, Europe, Asia Pacific, Middle East & Africa and Latin America. North America accounted for the largest market share in 2022. Law enforcement agencies are also increasingly using the technology, particularly in the North American region. Market growth in the upcoming years is probably going to be driven by increased spending in border security. These tools can aid border patrol agents in detecting and stopping smuggling, infiltration, and illegal immigration.
Major players operating in the Soldier System market include BAE Systems plc (UK), Elbit Systems (Israel), Aselsan A.S. (Turkey), Saab AB (Sweden), Rheinmetall AG (Germany), General Dynamics (US), and Thales Group (France) are some of the market players.
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