Military Wearables Market Size, Share, Trends, Growth and Forecast 2023–203

The global military wearables market size was gauged at USD 7.83 billion in 2022. The market is projected to grow from USD 8.09 billion in 2023 to USD 10.18 billion by 2030, exhibiting a CAGR of 3.25% during the 2023-2030 period. Military wearables refer to equipment and electronic devices worn by soldiers or other military personnel as part of their uniforms or gear to enhance their ability to perform their duties, thus boosting the market growth. They include smart watches, biometric monitoring systems, smart clothing, smart eyewear, heads-up displays, and exoskeletons.

This information is provided by Fortune Business Insights, in its report titled, “Military Wearables Market Size, Share, and Forecast 2023-2030.”

List of Key Players Mentioned in the Report:

• Aselsan A.S. (Turkey)

• Elbit Systems Ltd. (Israel)

• General Dynamics Corporation (U.S.)

• Honeywell International Inc. (U.S.)

• L3harris Technologies Inc. (U.S.)

• Leonardo S.p.A. (Italy)

• Lockheed Martin Corporation (U.S.)

• Microsoft Corporation (U.S.)

• Safariland LLC (Florida)

• TE Connectivity Ltd. (Switzerland)

• Thales Group (France)

Information Source:  

https://www.fortunebusinessinsights.com/military-wearable-market-103544

Segmentation:

Bodywear Segment to Lead Owing to Growing Adoption of Advanced Technologies

Based on wearable type, the global market is divided into headwear, eyewear, wristwear, hearables, and bodywear. Among these, the bodywear segment accounted for the largest market share in 2022. Rising adoption of advanced technologies and growing research & development activities to help the wearer in withstanding harsh weather conditions are the factors aiding market expansion.

Communication and Computing Segment to Dominate Stoked by Growing Integration of Communication Technology in Wearables

As per technology, the market is split into smart textiles, network and connectivity management, exoskeleton, vision & surveillance, communication & computing, monitoring, power and energy source, and navigation. Among these, the communication and computing segment captured majority of the market in 2022. The increasing adoption of communication technology in military wearables will aid market expansion in this segment in the upcoming years. These devices enable soldiers to be more connected on the battlefield increasing their efficiency and improving situational awareness as they can easily communicate with each other and access important information.

Land Forces Segment to Hold Dominant Share Due to Surging Product Demand

According to end-user, the global market is arrayed into land, naval, and air force. Among these, the land forces segment captured a significant military wearables market share in 2022. The rising adoption of lightweight wearables, eyewear and helmets, and next-generation body armor by land forces is a key factor attributing to the expansion of the segment.

Geographically, the market is segregated into North America, Europe, Asia Pacific, South America, and the Middle East & Africa.

Report Coverage:

The report provides crucial insights regarding drivers and challenges impacting market trends over the analysis period. The market is studied exhaustively by dividing it into segments, regions, and countries. Growth rate, market share, sales and valuation projections for each country, region, and segment are provided. Recent developments among industry leaders such as partnerships, mergers & acquisitions, and collaborations are also discussed in the report.

Drivers and Restraints:

Adoption of Advanced Technology to Aid Market Proliferation

 Wearables are revolutionary products that are integral to a soldier’s uniform. They keep the soldiers connected with each other enhancing connectivity and overall efficiency. Devoted applications can be industrialized to monitor and control the soldiers deployed in hazardous areas. Furthermore, communication networks can be the next in line. Implantable sensor technology, including Wireless Body Area Networks (WBANs), tied with technologies such as the Internet of Battlefield Things (IoBT), would make battlefield management fully digital. These advanced technologies are driving the market growth during the forecast period.

On the other hand, developing countries are purchasing traditional combat equipment instead of advanced military wearables due to their high cost. This will act as a challenge for businesses operating in this domain thus hampering military wearables market growth.

Regional Insights:

Europe to Capture Significant Share Due to Rising Adoption of Wearables by Several End-Users

Europe market is expected to be the fastest growing market in the upcoming years owing to surging adoption of wearables by armed, naval and air forces for protection against threats.

Asia Pacific market is projected to hold dominant market share rate across all regions over the analysis period. High demand for military wearables in India and China and increasing adoption of advanced products due to massive number of people deployed is a key factor aiding market augmentation in this region.

North America market is projected to grow moderately in the forecast timeframe backed by presence of leading companies in the region and growing adoption of advanced wearables. The U.S. recorded the highest defense budget in 2021 and the ever-growing federal budget for military spending will further propel market growth in this region.

Competitive Landscape:

Agreements Between Industry Leaders and State Armies to Attribute to Market Expansion

The Russia-Ukraine has increased military spending and propelled defense budgets in several economies. Many countries are focusing on adopting advanced technologies to enhance the soldier efficiency and performance in the battlefield. For example, in September 2021, the U.S. Army awarded L3Harris Technologies with a $100 million order for the Enhanced Night Vision Goggle – Binocular system to improve mobility, situational awareness, survivability and lethality of soldiers. The system delivers imagery and data from the battlefield directly to the soldier’s eye and promises improved interoperability and data sharing.

Key Industry Development:

October 2022 – L3Harris Technologies unveiled a new product called Iridium Distributed Tactical Communications Systems (DTCS). This product provides push-to-talk voice and secure data sharing for fighters worldwide. The mission module connects the L3Harris AN/PRC-163 multi-channel handheld tactical radio to the U.S. Space Force’s DTCS network, allowing fighters in the battlefield to communicate and share data securely without having to carry a separate Iridium satellite radio.