Military Exoskeleton Market

Military Exoskeleton Market Research Report
By Forecast To 2023
Industry Survey, Growth, Competitive Landscape
and Forecasts to 2023
PREPARED BY
Market Research Future
(Part of Wantstats Research & Media Pvt. Ltd.)
Military Exoskeleton Market Research Report - Forecast to 2023
Global Military Exoskeleton Market Information Report by Type (Full Body Exoskeleton, Partial Body
Exoskeleton), by Power (Active Exoskeleton, Passive Exoskeleton) and by Regions - Global Forecast To 2023
Modern-day soldiers are equipped with radios, night vision devices, global positioning system (GPS) equipment, and
computers in their uniforms that provide them with real-time data, which assist the troops with satellite imagery of the
battlefield and significantly enhance their situational awareness. As a result, there is a growing demand for integrated smart
weapons and lightweight body armors. With the changing nature of warfare, most of the countries, across the globe, have
developed or are developing military suits or body armor for their armed forces. Notwithstanding the innovations and
developments attached with these military wearable’s, their basic functionality includes the provision of added strength,
efficiency, and combat capabilities to the armed troops. Military Exoskeletons are lighter than the conventional load
carriage or armor systems, and they enable added protection and counter attack against hostile enemy advances.
Therefore, there have been significant developments of light weight body suits, which would boost the efficiency of the
armed troops in the battlefield. With a higher number of lethal and protective Exoskeletons being developed, the market is
expected to witness tremendous growth during the forecast period.
As a result, the global military Exoskeleton market is expected to grow at a CAGR of 25.87%.
With the increasing popularity of military exoskeletons due to their technological advantages, the defence operations and
exercises, around the globe, have advanced to a level where the deployment of such systems becomes equivalent to a new
revolution in high-technology warfare. Although these systems showcase enhanced soldier capabilities, they lack the
defensive tactics against heavy firepower such as cruise missiles, ballistic missiles, and nuclear missiles. These advanced
systems remain highly susceptible to the attacks from nuclear weapons, which could adversely impact the lives or health of
the soldiers.
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Military Exoskeleton Market Research Report - Forecast to 2023
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Military Exoskeleton Market Research Report - Forecast to 2023
Regional Analysis
By 2023, North America is expected to be the dominant region in the military Exoskeleton market primarily due to the
presence of major manufacturers in this region. In addition, increasing military expenses by the US Department of Defense
(DOD) on these body suits have resulted in the development of advanced military exoskeleton systems. Americas accounted
for the largest market share of 49.85% in 2015, with a market value of USD 25.8 million and is projected to grow at the
highest CAGR of 28.30% during the forecast period. The US, in particular, is home to a number of military exoskeleton
programs such as HULC, XOS 2, Superflex Exo suit, Soft Exo suit, Warrior Web system, and TALOS. These phenomenal
technological armor suits provide the soldiers with increased power, safety, and capabilities, which have helped them to
carry out the military operations conveniently, in vulnerable regions such as Cyprus, Iraq, Libya, Nigeria, Somalia, Syria, and
Afghanistan. Europe is expected to acquire the second largest market due to the high expenses on soldier modernization
programs by countries such as France, Germany, Italy, Spain, Switzerland, and the UK, which would come in aid of their
soldiers, by enhancing their operational and attack capabilities. During the military exercises in Afghanistan (2001-2014),
many European countries had deployed their combatants, to fight the Islamic State (IS) insurgents. Some countries such as
France, Germany, Italy, Spain, Switzerland, and the UK had initiated advanced soldier modernization programs, which would
come in aid of their soldiers, by enhancing their operational capabilities.
The report for Global Military Exoskeleton Market of Market Research Future comprises of extensive primary research along
with the detailed analysis of qualitative as well as quantitative aspects by various industry experts, key opinion leaders to
gain the deeper insight of the market and industry performance. The report gives the clear picture of current market
scenario which includes historical and projected market size in terms of value, technological advancement, macro
economical and governing factors in the market. The report provides details information and strategies of the top key
players in the industry. The report also gives a broad study of the different market segments and regions.
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Military Exoskeleton Market Research Report - Forecast to 2023
Key Players
The key players of global military Exoskeleton market are BAE Systems, General Atomics, Lockheed Martin, Raytheon,
Safran, Bionic Power, Ekso Bionics, 20 Knots Plus, Revision Military, SpringActive, and SRI International.
Intended Audience
• Distributer & Supplier companies
• End Users
• Consultants and Investment bankers
• Government as well as Independent Regulatory Authorities
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