Global Military Exoskeleton Market was valued US$ XX Bn in 2018 and is expected to reach US$ XX Bn by 2026, at a 26.2% CAGR of around during a forecast period.
Military exoskeleton offers soldiers with an additional power to lift heavy loads and move quickly in the battlefield. The changing concept of warfare has caused the development of biological weapons that can be risky to the human body. So that to prevent direct contact with the biological elements, armies all around the globe are widely investing in military exoskeletons.
The major factor booming the demand of exoskeleton suits on the international level such as military exoskeletons can avoid direct contact with harmful biological elements like gases. Additionally, the need for swift coordination throughout warfare has resulted in the high demand for advanced communication systems, which are tough to track by the enemy.
The report provides a detailed highlights with drivers and restraint of market growth globally. Emerging of lightweight exoskeletons will significantly reduce the weight and offer benefits to the soldiers by increasing their mobility. These factors are expected to fuel the military exoskeletons’ demand in the upcoming future. However, the high cost of military exoskeletons in the global market is a major factor hampering the market. A single exoskeleton military suit can cost more than US$ 60,000 to US$ XX depending upon the quality and weight.
The report on the global market for military exoskeleton covers segments such as type and power. Based on power, the active exoskeleton segment is expected to grow at the highest XX% CAGR during forecast period. The active exoskeletons currently are included with actuators in addition to hydraulics which provided extra strength and survival to the soldiers during combat. Therefore, the active exoskeletons have existed studied to dominate the global market for military exoskeleton during the forecast period. Region-wise, North America accounted for the largest market share of XX% in 2018, with a market value of US$ XX Bn and is expected to grow at the highest CAGR of XX% by 2026. This is because of the presence of major manufacturers in North America. Additionally, growing military expenses by the U.S. Department of Defense on these bodysuits have caused in the development of innovative military exoskeleton systems.
The U.S. army is spending in exoskeletons the increase soldier’s physical abilities on the battleground by reducing the strain of heavy loads and aiding them to move faster. Such as, in 2018, B-Temia, a robotics tech Canadian company declared its engagement in an agreement with U.S. Army Natick Soldier research & development, and Engineering Center with its partner Lockheed Martin, which was fixed as the prime contractor. The reports also give the industrial development in the global market for military exoskeleton like in Aug 2018, Russia’s Rostec showcased its third-generation Ratnik infantry battle suite, a passive exoskeleton which upsurges the physical capacities of a soldier and protects joints and the spine. Similarly, the cost of the passive exoskeletons was relatively below the active exoskeletons, which complete the militaries to incline towards these in their purchase plans, though the services they offer are less linked to those of the active exoskeletons.
The objective of the report is to present comprehensive analysis of Global Military Exoskeleton Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language.
The report covers the all the aspects of industry with dedicated study of key players that includes market leaders, followers and new entrants by region. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors by region on the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give clear futuristic view of the industry to the decision makers. The report also helps in understanding Global Military Exoskeleton Market dynamics, structure by analyzing the market segments, and project the Global Military Exoskeleton Market size. Clear representation of competitive analysis of key players by type, price, financial position, product portfolio, growth strategies, and regional presence in the Global Military Exoskeleton Market make the report investor’s guide.
Scope of the Global Military Exoskeleton Market
Global Military Exoskeleton Market, by Type
• Full Body Exoskeleton • Partial Body Exoskeleton
Global Military Exoskeleton Market, by Power
• Active Exoskeleton • Passive Exoskeleton
Global Military Exoskeleton Market, by Region
• North America • Asia Pacific • Europe • Middle East & Africa • South America
Key players operating in Global Military Exoskeleton Market
Browse Full Report with Facts and Figures of Military Exoskeleton Market Report at: https://www.maximizemarketresearch.com/market-report/global-military-exoskeleton-market/40970/
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Name: Vikas Godage
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