Soldier Systems Market – Key Findings, Regional Study, Global Trends, Size, Share, Profiles and Future Prospects

Global Soldier Systems Market: Information by Type (Protection, Communication, Power & Data Transmission, Surveillance & Target Acquisition, Navigation and Other Systems), by End-User (National defense and Public Security), and by Region — Global Forecast till 2023

Pune, India - June 19, 2019 /MarketersMedia/ —

Overview:

Soldier systems are equipment that help in the training of soldiers and increase their skills in combat. The global soldier systems market is all set to gain 7% CAGR during the forecast period (2018-2023). Market research Future (MRFR) in their latest report reveals all probabilities that can ensure a safe crossing of the expected market valuation by the end of 2023. The market is witnessing immense prospect with the rise in defense sector expenditure.

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Factors such as safety of troops, better situational awareness, asymmetric warfare, and desire to enhance soldier skill level are expected to take the global soldier system market ahead. At the same time, the delay in procurement of such advanced gears to train troops could deter the expected market growth. However, territorial conflicts and terrorist activities have risen which can bring back the soldier system market back on track in the coming years.

Segmentation:

The global soldier systems market, as published in the report of MRFR, has been segmented on the basis of type and application. Aim of MRFR is to take a closer look at the market to understand possibilities that could shape the coming years for the market.

Based on the type, the soldier systems market comprises communication systems, protection systems, surveillance & target acquisition systems, power & data transmission systems, vision systems, navigation & health monitoring systems, and other systems. The communication systems segment held the dominant position in the market in 2017 as effective communication plays pivotal role in ensuring success of military missions.

Based on the end-user, the soldier systems market consists national defense and public security. The national defense segment topped the market in the year 2017. This is due to the hike in the investment for upgradation in the quality of most of the military forces around the world.

Regional Analysis:

MRFR’s region-specific analysis of the global soldier systems market includes four regions, namely, North America, Europe, Asia-Pacific (APAC), and Rest of the World (RoW) for a closer look into the growth pockets.

North America is holding the lion’s share of the market and it is possible due to the presence of the US and Canada, two countries known for their high defense budgets. The US defense department spends a substantial amount of their budget every year to include all the latest equipment into their arsenal to reduce human fatality count. At the same time, their expenditure in current missions in the Middle East is expected to drive the soldier system market ahead. The region is developing several gears to assist their soldiers to the fullest.

On the other hand, in Europe, the U.K. and France, along with Russia, are spending substantial amount to develop their military forces owing to which the market is also gaining traction. In the Middle East part, Israel is doing extraordinarily good. The region is showing substantial advancement in research and development sector.

Competitive Landscape:

Influential companies have been impacting the global soldier system market for quite some time now with their latest strategic inputs. These steps are mostly aimed at growth on the individual level but the process ensures holistic expansion for the market as well. MRFR includes several companies for a better understanding of the market trends and profiled them. These companies are BAE Systems plc (UK), Aselsan AS (Turkey), General Dynamics Corporation (US), Elbit Systems Ltd. (Israel), Leonardo S.p.A (Italy), Thales SA (France), Harris Corporation (US), Saab AB (Sweden), Rheinmetall AG (Germany), and United Technologies Corporation (US).

A report published in May 2019 reveals that the US government is considering the introduction of robotic exoskeletons on the battlefield to enhance performance level of soldiers. This would be strapped to their legs which would help them lift heavy weight and move faster. With this intention, they have already invested substantial amount in companies like Onyx and Lockheed.

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About Market Research Future:

At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.

MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients.

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Source URL: https://marketersmedia.com/soldier-systems-market-key-findings-regional-study-global-trends-size-share-profiles-and-future-prospects/526742

Source: MarketersMedia

Release ID: 526742

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