Soldier Systems Market - 33% of Growth to Originate from North America| Increased Deployment by the Military Segment to Boost Growth |17000+ Technavio Reports

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NEW YORK, Jan. 19, 2022 /PRNewswire/ -- The Soldier Systems Market is set to grow by USD 4.04 billion between 2021 and 2026, accelerating at a CAGR of 4.93% as per the latest report by Technavio. The market is segmented by application (military and homeland security) and geography (North America, Europe, APAC, MEA, and South America). The report provides detailed insights into how vendors are performing in terms of revenue generation, market position, product launches, and customer base among others.

Attractive Opportunities in Soldier Systems Market by Application and Geography - Forecast and Analysis 2022-2026
Attractive Opportunities in Soldier Systems Market by Application and Geography - Forecast and Analysis 2022-2026

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Key takeaways from Soldier Systems Market study

  • Soldier Systems market size to increase by USD 4.04 billion at a CAGR of 4.93% between 2021 and 2026

  • 3.21% year-over-year growth expected in 2022

  • 33% market growth to originate in North America during the forecast period

  • Dominant vendors include ASELSAN AS, Collins Aerospace, Elbit Systems Ltd., L3Harris Technologies Inc., Leonardo Spa, and others

Soldier Systems Market: Revenue Generating Segment

The soldier systems market share growth by the military segment will be significant for revenue generation. The growth is attributed to the advances in VR and AR technologies that help in training and stimulation. In addition, the increase in the adoption of radar systems in military applications for ground-based detection, weather sensing, and navigation and mapping of military aircraft will also drive the growth in the market in focus during the forecast period.

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Soldier Systems Market: Growth Drivers and Restraints

The key factor driving the global soldier systems market growth is the increased deployment by the military segment. The rapid advances in VR and AR technologies will revolutionize army training by delivering mission-critical situational awareness. AR can provide useful information, such as enemy location to soldiers within their line of sight hence, it is extensively used for training and simulation purposes. The government of many countries has increased spending on training to seize an opportunity to augment the readiness of soldier systems. For instance, the US Army has deployed a new AR heads-up display technology that makes modern warfare feel like a first-person video shooter. The increased deployment of soldier systems across the military sector is projected to positively impact the market in focus during the forecast period.

However, one of the major challenges to the global soldier systems market growth is the defense budget cuts affecting procurement patterns. The lack of financial resources will be an issue as countries are still recovering from the COVID-19 pandemic. Several sectors have been exposed to critical damage, which requires massive government interventions for revival. The budget constraints and prioritization of near-term readiness over modernization will negatively impact the growth of the market in focus during the forecast period.

The Soldier Systems Market report answers questions such as:

  • Is the market structure fragmented or concentrated?

  • What was the market size in 2022 and the forecast of the Soldier Systems Market through 2026?

  • Which are the best segment areas to invest in over the forecast period?

  • What is the market share of dominant and strong vendors in the Soldier Systems Market?

  • What are the latest trends and regulatory frameworks in the Soldier Systems Market?

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Soldier Systems Market Scope

Report Coverage

Details

Page number

120

Base year

2021

Forecast period

2022-2026

Growth momentum & CAGR

Accelerate at a CAGR of 4.93%

Market growth 2022-2026

USD 4.04 billion

Market structure

Concentrated

YoY growth (%)

3.21

Regional analysis

North America, Europe, APAC, MEA, and South America

Performing market contribution

North America at 33%

Key consumer countries

US, Canada, Russian Federation, China, and Germany

Competitive landscape

Leading companies, competitive strategies, consumer engagement scope

Companies profiled

ASELSAN AS, Collins Aerospace, Elbit Systems Ltd., L3Harris Technologies Inc., Leonardo Spa, Raytheon Technologies Corp., Rheinmetall AG, Saab AB, Teledyne FLIR LLC, and Thales Group

Market Dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, market condition analysis for the 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

About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides 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.

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