The Soldier System Market was valued at USD 9.78 billion in 2018 and is projected to reach USD 14.14 billion by 2023, at a CAGR of 7.65% during the forecast period from 2018 to 2023. This report forecasts the market and provides information on its dynamics for the next 5 years. It also recognizes the application gaps for soldier systems, recent developments in the market, and high potential markets for soldier systems. Rising incidences of asymmetric warfare, increasing number of soldier modernization programs being carried out by different countries across the globe are the key factor driving the demand for soldier system market Modernization of the armed forces to adapt to the digital battlefield is expected to drive the demand for military segment Soldier System Market based on end user, the two segments considered for this analysis are military, which includes infantry and special forces; and homeland security, which includes police and paramilitary forces. growth can be attributed to the increasing military expenditures by major economies as well as military modernization programs. This high growth can be attributed to the increasing military expenditures by major economies of the region, along with the rising number of conflicts, wars, and cross-border disputes in the Asia Pacific region. Effective situational awareness through sophisticated communication headset is expected to drive the demand for Communication segment Soldier System Market on the basis of type, the soldier system market has been segmented into personal protection, Respiratory Protective Equipment (RPE), communication, power and transmission, surveillance and target acquisition, navigation and health monitoring, vision, exoskeleton, and training & simulation. Communication has been further segmented into tactical multiband radio, tactical headset, and dismounted IFF. Companies have been undertaking extensive research to develop an integrated soldier systems with 5 enhanced capabilities provided to soldiers, which are, survivability, sustainability, lethality, mobility, and command, control, communication, computer, and intelligence. Market Dynamics : Soldier System Market Driver: Increasing number of soldier modernization programs being carried out by different countries across the globe Traditional ground soldier systems included uniforms, weapons, helmets, and bedrolls. However, the emergence of asymmetric warfare and the continuous advancements in weapons have led to the increased demand for technologically advanced soldier systems. As such, a number of countries across the globe are carrying out soldier modernization programs to incorporate new and advanced technologies in their soldier systems to improve interoperability of these systems. Innovations in the fields of networked soldier technologies and future soldier outfits have led to the development of new and advanced soldier systems to enhance battlefield capabilities of soldiers Restraints: Defense budget cuts in developed economies The declining defense budgets of developed countries may restrain the growth of the market in the North American and European regions. With the ongoing economic crisis, countries such as the UK, Italy, Spain, and Greece may further reduce their defense budgets. Apart from Norway, Poland, and some eastern European states, the defense budgets of most of the countries of the European have reduced significantly in the recent years. This, in turn, has added to the difficulties of manufactures of various subsystems of soldier systems, thereby acting as a restraint for the growth of the soldier system market across the globe. Opportunities:Development and incorporation of advanced technologies to overcome deficiencies of the existing soldier systems Companies dealing in soldier systems across the globe are continuously working for the development of a number of cutting-edge technologies in the field of communication and intelligence to enable troops to function quickly and smartly in battlefields. These companies are carrying out R&D activities for the development of new and innovative technologies to address the identified gaps in soldier systems, thereby supporting the operational effectiveness of soldiers. For instance, the integrated soldier systems project, which is a soldier modernization program being carried out in Canada, defines the deficiencies of traditional soldier systems as follows: Challenges: Reducing weight of soldier systems Reducing weight of soldier systems without compromising on their protection and combat performance is a key challenge for the manufacturers of different components and subsystems of soldier systems. Modernization of soldier systems to protect, mobilize, and empower soldiers has resulted in an exponential increase in the total weight of these systems. The combined weight of soldier systems prevents troops from being agile, mobile, and effective. At times, it even puts their lives at risk as lifesaving equipment is often left behind by them due to difficulty in carrying all equipment, owing to their heavyweight. Full Report @ https://www.marketsandmarkets.com/Market-Reports/soldier-system-market-137230260.html
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