Smart Textiles Military Market Size To Expand at a Notable CAGR Of 17.56% During 2023 - 2032

Feb, 2019 Market Research Future Research Report on Global Smart Textiles for Military Market.  

Overview:

According the latest report published by Market Research Future (MRFR), the global smart textiles for the military market is set to increase at a compound annual growth rate of 17.56% between 2023 and 2032. Smart textiles can be viewed as a ground-breaking product, which finds tremendous military application. There has been a significant rise in demand for smart textiles in military. This is primarily owing to extraordinary functional capacity. They are being increasingly used for stitching military uniforms and protective gears.

With the growing emphasis on enhancing military products including clothing and wearables, the focus on using superior clothing materials has increase significantly. In addition, rising investment in R&D is likely to make a positive impact on the market in the years to come. Several areas are looked into when deciding on a material that can be used in making military clothing. Apart from strength, comfort and flexibility are also among important specifications that are considered for military clothing.

Integration of electronic devices in military uniforms and increased importance of high-performance military equipment are some of important factors driving the demand for military grade smart textiles. Hence, such textiles hold significant application potential.

Global Telecom Analytics Market: Segmental Analysis

Segmental analysis of the report has been conducted on the basis of application, types and region. Based on application, the market has been segmented into energy harvest, health monitoring and protection and mobility. Of these, the harvest segment commands the predominant market share and is likely to retain its position over 2023. In addition, segment is projected to expand 17.77% during the assessment period. Energy harvesting in smart textile is a highly sophisticated technology, which allows military clothing to derive energy from atmospheric sources such as natural light, wind, bodily movement etc. The electric energy generated is used to power devices that are integrated in modern military clothing. Base on the type, the market has been segmented into ultra-smart textiles, active smart textiles and passive smart textiles. The passive smart textile segment holds the pole position in terms of value. The segment is expected to remain highly profitable in 2019 and beyond. Passive smart textile is renowned for its properties such as anti-microbial, anti-odor, endurance, anti-statics among others.

Global Smart Textiles for the Military Market: Regional Outlook

Based on region, the market has been segmented into Americas, the Middles East & Africa (MEA), Europe and Asia Pacific (APAC). Currently, the Americas region holds the dominant share of the global market in terms of value. The size of market in Americas was valued at over USD 230 Mn in 2017. During the projection period, the market in the region is likely to post a CAGR of 17.55%. The U.S. being a major consumer on military supplies, present attractive growth opportunities for market players. In its efforts the remain the world’s largest military power, the U.S. has continued to invest in improving its military capacity. Such factors are partly supporting the growth of the market in the region. At the same time, presence of a large number of market players in the region acts as a leverage.

Asia Pacifica and Europe are the other two important markets for smart textile for the military. APAC market is currently valued at over USD 190 Mn. During the forecast period, the market is APAC is expected to capture the highest CAGR.

Global Smart Textiles for the Military Market: Competitive Landscape

Some of the notable market players profiled in the MRFR’s report include BAE Systems, Directa Plus SpA, Koninklijke Ten Cate BV, WL Gore & Associated Inc, BeBop Sensors, Advanced Fabric Technology LLC, Outlast Technologies LLC, Mide Technology Corporation, DuPont and Ohmatex.