Soldier Systems Market Scenario
Soldier Systems Market Size Valued at USD 18.20 Bn, market Grow at a CAGR Of 6.01% by 2020 -2030
Soldier systems are equipment which enhances the operational capabilities of soldiers during combat. These systems are widely being procured by various defense organizations around the world. The systems cover everything from small wearables such as scopes to large portable devices such as Radars and Jammers. Soldier systems finds huge application in the defense sector as well as in the law enforcement agencies. However, the system components vary form one end-user to another.
Factors such as focus on enhancing situational awareness of soldiers in the battlefield and rising incidences of asymmetric warfare are positively impacting the soldier systems market growth. In addition, the rise in defense expenditure, especially in emerging economies and subsequent investments in procuring such systems further boosts the market growth. However, factors such as delays in procurement processes hinders the market growth to a certain extent while the reducing weight of the soldier systems is a key challenge faced by the market players. Meanwhile, rising terrorist attacks and focus on counter operations, and soldier modernization programs being initiated by many countries throughout the world, create promising growth opportunities for the soldier systems market. Companies are also keen on developing an integrated solution covering multiple systems.
The global soldier systems market has been segmented by type, application, and region. Based on type, the market is divided into protection systems, communication systems, power & data transmission systems, surveillance & target acquisition systems, navigation & health monitoring systems, vision systems, and other systems. In 2017, the communication systems segment accounted for the largest market share as effective communication is a key factor determining success of military missions. Based on end-user, the market is divided into national defense and public security. In 2017, the national defense segment accounted for the largest market share as most of the military forces around the world are focusing on upgrading soldier protection equipment and other combat gears.
The global soldier systems market has also been segmented into four regions, namely, North America, Europe, Asia-Pacific, and Rest of the World. North America is estimated to account for the largest share during the review period. North America region in this report includes the US and Canada. Focus by the U.S. Department of Defense (DOD) on developing tactical equipment, in the recent years, have resulted in the market witnessing a significant surge in demand, in this region. Moreover, the current military operations and exercises in the Middle East countries will also result in the US focusing on developing modern soldier systems such as advanced combat gear, which will further deepen the scope of the market in the region. The global market is estimated to register a CAGR of more than 7% during the forecast period of 2018 to 2023.
Soldier System Manufactures
Tactical Communication Solution Providers
Law Enforcement Agencies
Defense Electronics Suppliers
The key players in the global soldier systems Industry are Aselsan AS (Turkey), BAE Systems plc (UK), Elbit Systems Ltd. (Israel), General Dynamics Corporation (US), Harris Corporation (US), Leonardo S.p.A (Italy), Rheinmetall AG (Germany), Saab AB (Sweden), Thales SA (France), and United Technologies Corporation (US).
Segmentation of the Global Soldier Systems Market
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Global soldier systems market is projected to garner a substantial market value during the review period from 2018 to 2023.
Global soldier systems market is estimated to expand at a CAGR of 7% during the forecast period from 2018 to 2023.
The APAC is anticipated to be the fastest-growing region during the review period.
Based on type, the communication systems segment is expected to gain the maximum share during the review period.
Aselsan AS (Turkey), Thales SA (France), General Dynamics Corporation (US), and General Dynamics Corporation (US) are some of the key players of the global soldier systems market.