Categories: Aerospace & Defence

Military Exoskeleton Market Segments, Trends, and Competitive Assessment 2023-2032

The Military Exoskeleton Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).

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According to The Business Research Company’s Military Exoskeleton Global Market Report 2024, 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..

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.

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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

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 report table of contents includes: