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Military forces of different countries across the globe have increased the use of military wearables to enhance the warfighting capabilities of their soldiers. The military wearables market is projected to grow from $4.2 Billion in 2019 to $6.4 Billion by 2025, at a CAGR of 7.17% from 2019 to 2025. A new report by RsearchAndMarkets.com evaluates that the increasing defense spending and ongoing soldier modernization programs are key factors fueling the growth of the military wearables market across the globe.
Growing adoption of military wearables due to the rising instances of asymmetric warfare and increasing demand for improved and efficient military wearables to reduce troop casualties across the globe are expected to fuel this growth in the future.
Decline in defense spending and procurement of conventional warfare systems rather than advanced military wearables by emerging economies are expected to restrain the growth of the market during the forecast period.
Based on end user, the airborne forces segment of the military wearables market is projected to grow at the highest CAGR during the forecast period, according to businesswire.com citing the report.
Based on wearable type, the bodywear segment is projected to lead the military wearables market from 2019 to 2025. The eyewear segment of this bodywear market is projected to grow at the highest CAGR during the forecast period. Augmented Reality (AR) and Virtual Reality (VR) based eyewear products are expected to witness increased demand from defense forces worldwide for warfare and training activities.
The North America military wearables market is projected to grow at the highest CAGR during the forecast period, due to the rising demand for military wearables from defense forces of different countries of the region. Moreover, increasing product developments and investments in the military wearables ecosystem by defense research agencies, large Original Equipment Manufacturers (OEMs), and start-ups are leading to the growth of the military wearables market in North America.
Opportunities in the military wearable market include:
- Development and Incorporation of Advanced Technologies to Overcome Deficiencies of Existing Military Wearables
- Incorporation of Nanotechnology in Subsystems of Military Wearables
- Increased Demand for Improved and Efficient Military Wearables to Reduce Troop Casualties
The challenges are the lack of strategy clarity and technology readiness; and the reduction in weight of military wearables without compromising on protection and performance.