Dublin, June 27, 2024 (GLOBE NEWSWIRE) -- The "Global Soldier Systems Market by Product (Clothing & Protection Equipment, Cordless Communication Systems, Exoskeleton), Components (Hardware, Software), Operation, Application - Forecast 2024-2030" report has been added to ResearchAndMarkets.com's offering.
The Soldier Systems Market grew from USD 12.45 billion in 2023 to USD 13.13 billion in 2024. It is expected to continue growing at a CAGR of 5.71%, reaching USD 18.37 billion by 2030.
The soldier system significantly improves soldier tactical awareness, lethality, survivability, mobility, and sustainment. These products have been proven significant in combat operations and humanitarian/peacekeeping missions worldwide, allowing a seamless transition to vehicle-mounted close combat activities.
Rising defense spending on advanced technology and increasing preference for simple-to-use machinery have raised the demand for soldier systems. However, the need for more strategic clarity and technological capabilities may hamper the adoption rate of soldier systems. Moreover, the considerable preference for conventional approaches in underdeveloped countries may hinder market development.
Nevertheless, the ongoing advancements in existing soldier systems and the integration of nanotechnology may overcome the challenge and expand the market scope in the forecast period.
Regional Insights
The soldier systems market is evolving across the Americas and EMEA region due to the rising need for advanced military systems and increasing government expenditure for strengthening the defense sector. In the financial year 2023, the Department of Defense (DOD) of the United States distributed USD 1.98 Trillion among its six sub-components.
BAE Systems plc, Thales Group, and others have increased the availability and deployment of soldier systems in the EMEA region through continual product development. Due to escalating geopolitical tensions, the ongoing Russia-Ukraine war has expanded the use of many military equipment for communication, navigation, and surveillance. Furthermore, huge investments in border security and management by Asian nations such as China, India, Japan, South Korea, Singapore, and Australia have greatly raised the demand for soldier systems.
Market Share Analysis
The Market Share Analysis is a comprehensive tool that provides an insightful and in-depth examination of the current state of vendors in the Soldier Systems Market. By meticulously comparing and analyzing vendor contributions in terms of overall revenue, customer base, and other key metrics, we can offer companies a greater understanding of their performance and the challenges they face when competing for market share.
Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With this expanded level of detail, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 185 |
| Forecast Period | 2024 - 2030 |
| Estimated Market Value (USD) in 2024 | $13.13 Billion |
| Forecasted Market Value (USD) by 2030 | $18.37 Billion |
| Compound Annual Growth Rate | 5.7% |
| Regions Covered | Global |
Market Dynamics
Drivers
- Increased demand for improved and efficient soldier systems to reduce casualties suffered by troops
- Growing preference for simple-to-use machinery for soldier systems
- Increasing expenditure on advanced technology by the defense sector
Restraints
- Use of conventional warfare systems in under-developed countries
Opportunities
- Development and integration of advanced technologies to enhance capabilities of soldier systems
- Introduction of next-generation soldier systems to improve soldier decisiveness
Challenges
- Lack of strategic clarity and technology readiness related to soldier systems
Market Trend Analysis
- Cumulative Impact of High Inflation
- Porter's Five Forces Analysis
- Value Chain & Critical Path Analysis
- Regulatory Framework
Competitive Landscape
Merger & Acquisition
- BAE Systems buys military simulations firm for USD 200 million.
- Thales Finalizes Acquisition of RUAG Training And Simulation Unit.
Agreement, Collaboration, & Partnership
- Army Issues Task Order To Microsoft To Develop Better Version Of IVAS Headset.
- Army issues task order to Microsoft to develop better version of IVAS headset.
New Product Launch & Enhancement
- Instant Connect Extends Its Leadership In Military Voice Communications With JITC Certification.
- ODU AMC NP - A Quick Disconnect Connector For Soldier Systems.
- Advent Technologies Launches Honey Badger 50 to Power "On-the-Go" Soldier Systems During Military and Rescue Operations.
Investment & Funding
- QinetiQ wins night vision contract with US Army.
Award, Recognition, & Expansion
- Soldier Systems Company considering expansion to RBS.
- SciTec Awarded U.S. Army Contract for Missile Simulator Support.
Key Company Profiles
- 3M company
- Acal BFi Italy SRL
- AdaCore SAS
- AEI Systems Ltd.
- AFV Sim Ltd.
- AGMA Power Systems Ltd.
- AirBorn International Ltd.
- AkzoNobel N.V.
- Aliter Technologies
- AMDTEC Defence Solutions
- Ametek. Inc.
- Armor Express, Inc.
- Aselsan S.A.
- Australian Defence Apparel Pty Ltd.
- Avon Protection
- BAE Systems PLC
- BlueHalo
- Cobbs Industries B.V.
- Cobham PLC
- Curtiss-Wright Corporation
- Dragerwerk AG & Co. KGaA
- DuPont de Nemours, Inc.
- Eagle Industries
- Eaton Corporation PLC
- Elbit Systems Inc.
- Fujitsu Limited
- General Dynamics Corp.
- Gentex Corporation
- Honeywell International Inc.
- Kontron AG
- L3Harris Technologies Inc.
- Leonardo S.p.A.
- Lockheed Martin Corp.
- Mars Armor
- Milpower Source, Inc.
- Mitsubishi Electric Corporation
- MKU Ltd.
- MSA Safety Incorporated
- Northrop Grumman Corp.
- Panasonic Corporation
- Point Blank Enterprises Inc.
- Raytheon Technologies Inc.
- Respirex International
- Rheinmetall AG
- Rohde & Schwarz GmbH & Co KG
- Rolta India Limited
- Seyntex N.V.
- Teledyne FLIR LLC
- Texas Instruments Incorporated
- Thales Group
Market Segmentation & Coverage
Product
- Clothing & Protection Equipment
- Cordless Communication Systems
- Exoskeleton
- Micro-Climatic Cooling Systems
- Power & Data Management Systems
- Respiratory Protective Equipment
- Sensors & Individual Equipment
- Surveillance & Target Acquisition
- Vision Equipment & Heads-Up Display
Components
- Hardware
- Active sensors & Wearable Sensors
- Transmitter & Receiver
- Software
Operation
- Autonomous
- Semi-autonomous
Application
- Combat
- Communication
- Surveillance & Reconnaissance
- Training & Simulation
For more information about this report visit https://www.researchandmarkets.com/r/2e3oa
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