The military exoskeleton global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Military Exoskeleton Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The military exoskeleton market size has grown rapidly in recent years. It will grow from $0.97 billion in 2023 to $1.11 billion in 2024 at a compound annual growth rate (CAGR) of 14.7%. The growth in the historic period can be attributed to initial military applications, strategic shifts in warfare, military rehabilitation initiatives, advancements in materials and engineering, rise in defense spending..
The military exoskeleton market size is expected to see rapid growth in the next few years. It will grow to $1.83 billion in 2028 at a compound annual growth rate (CAGR) of 13.2%. The growth in the forecast period can be attributed to expanded military applications, advancements in materials and design, customization and adaptability, growing demand for medical rehabilitation, global military modernization programs.. Major trends in the forecast period include enhanced soldier performance, medical rehabilitation and support, increase in r&d investments, miniaturization and portability, integration of ai and sensors, specialized applications..
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Scope Of Military Exoskeleton Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Military Exoskeleton Market Overview
Market Drivers –
The rising number of terrorist activities and cross-border disputes is expected to propel the growth of the military exoskeleton market going forward. Terrorism activity is the intentional use of violent means or threats to achieve political, religious, or ideological objectives by inducing fear or coercion among civilians. Cross-border disputes refer to legal disagreements or conflicts that arise between individuals or organizations from different countries. The use of military exoskeletons enhances the physical abilities of soldiers, including strength, agility, and endurance, thereby improving their readiness to respond to terrorist attacks. For instance, in 2022, according to the Global Terrorism Index (GTI), which is published by The Institute for Economics and Peace (IEP), an Australia-based global think tank, terrorist attacks increased by 17% in 2021, with a total of 5,226 recorded attacks. Therefore, the rising number of terrorist activities and cross-border disputes is driving the growth of the military exoskeleton market going forward.
Market Trends –
Developing lightweight exoskeletons are a key trend gaining popularity in the military exoskeleton market. Companies operating in the military exoskeleton market are launching new versions of lightweight exoskeletons to sustain their position in the market. For instance, in April 2023, Comau Robotics, an Italy-based company that provides specializes in automation, launched Mate-XT, a wearable exoskeleton for industrial, non-industrial, and open-air environments. The design of the exoskeleton features a thin, light carbon fiber structure with an easy-to-use control system. It is resistant to water, dust, UV light, and temperature, and can be quickly customized to fit almost anybody’s frame.
The military exoskeleton market covered in this report is segmented –
1) By Type: Full-body Exoskeleton, Partial-body Exoskeleton
2) By Power: Active Exoskeleton, Passive Exoskeleton
3) By Operation: Battery-powered, Cable-powered
4) By Application: Physical Augmentation, Human-machine Interface, Human-computer Interface
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Regional Insights –
Europe was the largest region in the military exoskeleton market in 2023. North America is expected to be the fastest-growing region in the global military exoskeleton market report during the forecast period. The regions covered in the military exoskeleton market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Key Companies –
Major companies operating in the military exoskeleton market report are Lockheed Martin Corporation, Sarcos Technology and Robotics Corporation, Aselsan Elektronik Sanayi ve Ticaret AS, Dephy Inc., Rostec State Corporation, BAE Systems plc, General Atomics, Raytheon Technologies Corporation, Ekso Bionics Holdings Inc., Revision Military Inc., SpringActive Inc., 20 Knots Plus Ltd, Safran SA, General Dynamics Corporation, CYBERDYNE INC., Ottobock, DIH Medical, Bionic Power Inc., B-Temia, Boeing, Honeywell Aerospace, Mawashi Science & Technology, Rostec, Biogenix Laboratories, Zytomed System GmbH, Bio-Techne Corporation, QinetiQ Group plc, Hunter Defense Technologies Inc, Fifth Dimension Technologies, Endeavor Robotics, EXHAUSS Exoskeletons
Table of Contents
1. Executive Summary
2. Military Exoskeleton Market Report Structure
3. Military Exoskeleton Market Trends And Strategies
4. Military Exoskeleton Market – Macro Economic Scenario
5. Military Exoskeleton Market Size And Growth
…..
27. Military Exoskeleton Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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