Wilmington, Delaware, United States, April 13, 2023 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - The global dismounted soldier systems market stood at US$ 4.4 billion in 2022 and the global market is projected to reach US$ 8.1 billion by 2031. The global industry is anticipated to expand at a CAGR of 7.3% between 2023 and 2031.
The market value of dismounted soldier systems is increasing due to rising demand for advanced soldier systems, such as integrated wearable technologies, smart helmets, and communication systems, which is a major factor that is expected to boost the growth of the dismounted soldier systems market in the near future.
Additionally, rising military expenditure is also expected to contribute to the market growth in the coming years. The increase in military spending by governments across the globe is expected to fuel the growth of the dismounted soldier systems market.
Governments are investing in advanced soldier systems to enhance the capabilities of their armed forces and improve their operational efficiency. Furthermore, the growing focus on soldier safety and survivability is a major factor that is anticipated to provide a significant boost to the Dismounted Soldier Systems market. Soldier safety and survivability are critical concerns for military organizations.
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In addition, advancements in technology, is another major factor that is anticipated to accelerate the market prospects in the near future.
The advancements in technology, such as artificial intelligence, Internet of Things (IoT), and machine learning, are expected to lead to the development of advanced soldier systems with enhanced capabilities, which is likely to further accelerate the market growth during the forecast period.
Market Snapshot:
| Report Coverage | Details | |
| Market Revenue | USD 4.4 Bn | |
| Estimated Value | USD 8.1 Bn | |
| Growth Rate - CAGR | 7.3% | |
| Forecast Period | 2023–2031 | |
| No. of Pages | 173 Pages | |
| Market Segmentation | Type, Application, End-user | |
| Regions Covered | North America, Europe, Asia Pacific, Middle East & Africa, South America | |
| Companies Covered | ASELSAN A.Ş., Atos SE, Blackned GmbH, Collins Aerospace, Elbit Systems Ltd., Excelitas Technologies Corp., Instro Precision Limited, L3Harris Technologies, Inc., Rheinmetall AG, Roke, Rolta India Limited, Safran Electronics & Defense, SAVOX Communications Oy Ab (Ltd.), Senop Oy, TELDAT Sp. z o.o. sp.k., Teledyne FLIR LLC, Thales Group, Viettel High Technology Industries Corporation | |
Key Findings of the Market Report
- On the basis of type, laser target acquisition system is likely to be most preferred, expected to expand at a significant rate.
- These systems are extensively used in modern armies to enhance the accuracy and effectiveness of defense systems.
- Based on the application, the mission planning segment holds the highest market share, as these enable soldiers to quickly plan missions, communicate orders, report promptly and accurately, and enhance their situational awareness in the field.
- By End-User, the defense segment holds the highest market share, attributed to the factors such as increasing demand for modernization of defense equipment and the rising need to improve the capabilities of military personnel in various countries.
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Global Dismounted Soldier Systems Market: Growth Drivers
- The global dismounted soldier systems market is projected to expand at a steady pace from 2023 to 2031, due to the increasing demand for unmanned systems in military operations.
- Another factor that is projected to augment the market growth includes the growing use of augmented reality and virtual reality technologies.
- Additionally, the increasing demand for soldier modernization programs, as well as the emergence of new threats are other factors that are anticipated to fuel the market prospects in the near future.
Global Dismounted Soldier Systems Market: Regional Landscape
- North America dominated the Dismounted Soldier Systems market with a market share of 40.3% in 2022.
- The regional market is witnessing an increase, due to the factors such as increasing investments in military modernization, and the adoption of new technologies in the defense industry.
- Additionally, rising demand for advanced soldier systems in the region, is also expected to further aid the market's growth.
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Global Dismounted Soldier Systems Market: Key Players
Some of the key market players in the global Dismounted Soldier Systems market are:
- ASELSAN A.S.
- Atos SE
- Blackned GmbH
- Collins Aerospace
- Elbit Systems Ltd.
- Excelitas Technologies Corp.
- Instro Precision Limited
- L3Harris Technologies, Inc.
- Rheinmetall AG
- Roke
- Rolta India Limited
- Safran Electronics & Defense
- SAVOX Communications Oy Ab (Ltd.)
- Senop Oy
- TELDAT Sp. z o.o. sp.k.
- Teledyne FLIR LLC
- Thales Group
- Viettel High Technology Industries Corporation
Competitive Landscape
Prominent players in the Dismounted Soldier Systems industry are taking advantage of the rapidly increasing demand for Dismounted Soldier Systems. To further their outreach, players are relying on collaborations, partnerships and acquisitions with existing small, medium and large-scale providers. Some prominent market developments are as follows:
- In March 2021, Lockheed Martin Corporation announced that it had been awarded a contract worth $99 million by the US Army to develop and deliver enhanced night vision goggles for soldiers.
- In February 2021, Elbit Systems announced that it had won a contract worth US$ 82 million from an Asia-Pacific country to supply advanced dismounted soldier systems. The contract includes the supply of wearable systems, head-mounted displays, and vehicular systems.
- In August 2020, General Dynamics Mission Systems announced that it had been awarded a contract worth $1.22 billion by the US Army to supply the next-generation dismounted soldier systems.
Global Dismounted Soldier Systems Market: Segmentation
Type
- Augmented Reality (AR) Head Mounted Display (HMD)
- Pre-Shot Threat Detection (PTD) System
- Smart Ballistic Glasses
- Command and Control Information Systems (C2IS)
- Smartwatch
- Laser Target Acquisition System
- Blue Force Tracking (BFT) Device
- IP Radios
- Tactical Terminal Tablet
- Others (drone, load carriage, and protection (LCP), etc.)
Application
- Enemy Tracking
- Reports and Analysis
- Mission Planning
- Navigation
- 3D Visualization
End User
- Defense
- Homeland Security
Region
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- South America
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