NEW YORK, Sept. 4, 2023 /PRNewswire/ — The military wearable sensors market size is estimated to grow by USD 160.7 million from 2022 to 2027, according to Technavio. The market is estimated to decelerate at a CAGR of 6.72% during the forecast period. Increased spending on military modernization programs is notably driving market growth. Modernization of the military comprises transformations in technological capacities. Militaries of various nations aim to be well-trained and equipped with modern systems of armament and technique as well as modern and interoperable tools. In addition, the modernization of the military emphasises several areas, such as control and command systems, information systems, wearable devices, equipment, and armaments. Globally, countries are investing in such programs to intensify their military capabilities. For instance, the US Army has proposed a five-year Mission Training Complex Capabilities Support contract. Therefore, such initiatives will expand the demand for military wearable sensors, which, in turn, will fuel the growth of the market during the forecast period. Request a sample report
Military Wearable Sensors Market – Segmentation Assessment
Segment Overview
Technavio has segmented the market based on type(Device-based sensors and Clothing-based sensors), application (Headwear, Eyewear, Bodywear, Wristwear, and Hearables), and geography (North America, Europe, APAC, Middle East and Africa, and South America).
- The device-based sensors segment will account for a significant share of market growth during the forecast period. Many wearable devices have been developed for military applications such as goggles, keychains, watches, and activity and health-tracking wristbands. Generally, wearable devices include the global positioning system (GPS), which comprises a sensor for monitoring and tracking the position of personnel and physical structures. In addition, GPS provides precise details about the position and velocity of objects on the field. Incorporating wearable displays with GPS provides real-time data to soldiers. Such data include satellite /images that are crucial for military intelligence. Therefore, GPS helps with tactical and operational decisions in real-time. Such factors will boost the growth of the segment during the forecast period.
Geography Overview
By geography, the global military wearable sensors market is segmented into North America, Europe, APAC, Middle East and Africa, and South America. The report provides actionable insights and estimates the contribution of all regions to the growth of the global military wearable sensors market.
- North America is estimated to account for 37% of the global market. In North America, the US is a major revenue contributor to the market. The country is investing particularly in the R&D of wearable technology to improve its military modernization efforts. In the US, the aerospace and defense industry innovates technologically advanced aircraft and other systems. However, the country is a primary exporter and consumer of such machines and systems. The requirement to assure national security and achieve military dominance has driven the demand for military wearable sensors in the region. Such factors will fuel the growth of the market in the region during the forecast period.
Insights on the market contribution of various segments including country and region wise, historic market data (2017 to 2021), and forecast market size (2023 to 2027) – Download a Sample Report
Military Wearable Sensors Market – Market Dynamics
Leading trends influencing the market
The use of IoT and big data in militaries is an emerging trend shaping the market growth. IoT devices exchange data through the internet without human intervention. Big data and analytics are increasingly important. IoT tech is used in wireless sensor networks and software, consisting of sensors, digital signal processors, radio-frequency devices, and big data. Sensor data is interpreted at a command center and integrated with other data sources to inform orders. Therefore, the use of IoT and big data in the military is a primary trend that will influence the growth of the market during the forecast period.
Insights on Market Drivers, trends, and challenges, historic period(2017 to 2021) and forecast period(2023 to 2027)- Request a sample report!
What are the key data covered in this Military Wearable Sensors Market report?
- CAGR of the market during the forecast period
- Detailed information on factors that will drive the growth of the military wearable sensors market between 2023 and 2027
- Precise estimation of the military wearable sensors market size and its contribution to the market in focus on the parent market
- Accurate predictions about upcoming trends and changes in consumer behavior
- Growth of the military wearable sensors market across North America, Europe, APAC, Middle East and Africa, and South America
- A thorough analysis of the market’s competitive landscape and detailed information about companies
- Comprehensive analysis of factors that will challenge the growth of military wearable sensors market companies
Gain instant access to 17,000+ market research reports.
Technavio’s SUBSCRIPTION platform
Related Reports:
The Wearable Robots and Exoskeletons Market size is estimated to grow at a CAGR of 33.11% between 2022 and 2027 and the size of the market is forecast to increase by USD 4,718.14 million.
The Military Satellite Payloads and Subsystems market size is estimated to grow at a CAGR of 7.97% between 2022 and 2027. The market size is forecast to increase by USD 2,912.36 million.
|
Military Wearable Sensors Market Scope |
|
|
Report Coverage |
Details |
|
Base year |
2022 |
|
Historic period |
2017-2021 |
|
Forecast period |
2023-2027 |
|
Growth momentum & CAGR |
Decelerate at a CAGR of 6.72% |
|
Market growth 2023-2027 |
USD 160.7 million |
|
Market structure |
Fragmented |
|
YoY growth 2022-2023 (%) |
6.4 |
|
Regional analysis |
North America, Europe, APAC, Middle East and Africa, and South America |
|
Performing market contribution |
North America at 37% |
|
Key countries |
US, China, Germany, France, and Russia, Canada, Mexico, Italy,Spain, India, Japan, Australia, and South Korea |
|
Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
|
Key companies profiled |
ASELSAN AS, BAE Systems Plc, Bionic Power Inc., Elbit Systems Ltd., Epsilor Electric Fuel Ltd., General Electric Co., Honeywell International Inc., Interactive Wear AG, L3Harris Technologies Inc., Leonardo Spa, Lockheed Martin Corp., Northrop Grumman Systems Corp., Rheinmetall AG, Saab AB, Safran SA, TE Connectivity Ltd., Teledyne Technologies Inc., Thales Group, TT Electronics Plc, and Viasat Inc. |
|
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period. |
|
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
Table of contents
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Type
7 Market Segmentation by Application
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
About US
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Contact
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com
SOURCE Technavio
