Overview and Scope
The soldier system refers to a battlefield system that maximizes the warfighting capabilities. It combines innovative technology and equipment to improve military personnel’s capabilities in warfield.
Sizing and Forecast
The soldier systems market size has grown strongly in recent years. It will grow from $11.45 billion in 2023 to $12.13 billion in 2024 at a compound annual growth rate (CAGR) of 6.0%. The growth in the historic period can be attributed to military modernization, medical advancements, advancements in materials science, terrorism and asymmetric warfare, gulf wars and global conflicts.
The soldier systems market size is expected to see strong growth in the next few years. It will grow to $15.02 billion in 2028 at a compound annual growth rate (CAGR) of 5.5%. The growth in the forecast period can be attributed to increasing focus on urban warfare, rise in asymmetric warfare, demand for enhanced situational awareness, shift towards network-centric warfare, focus on non-lethal capabilities. Major trends in the forecast period include integration of advanced technologies, miniaturization of equipment, enhanced communication systems, focus on survivability, modular and customizable solutions.
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Segmentation & Regional Insights
The soldier systems market covered in this report is segmented –
1) By Type: Protection, Communication, Power And Data Transmission, Surveillance And Target Acquisition, Navigation, Other Systems
2) By Component: Hardware Devices, Software, Display Devices, Imaging Devices, Night Vision Devices, Tracking Devices, Wired And Wireless Communication Devices, Personal Protection Kits, Identification Friend or Foe (IFF), Other Components
3) By Technology: Artificial Intelligence, 3D Printing, Internet of Things, Wearable Devices, Other Technologies
4) By End User: Military, Homeland Security
North America was the largest region in the soldier systems market in 2023. The regions covered in the soldier systems market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
The increasing number of terrorist strikes is expected to propel the growth of the soldier system market in the coming future. Terrorist strikes are surprise assault that intentionally targets civilians with violence in the pursuit of political or religious objectives. Soldier systems assist crew life by integrating protective apparel, personal electronics, and survival equipment to improve aircrew lethality, mission effectiveness, and protection. The increasing number of terrorist strikes is expanding the soldier system market, thus increasing demand. For instance, in 2022, according to the Global Terrorism Index (GTI), 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 increasing number of terrorist strikes is driving the soldier system market.
Key Industry Players
Major companies operating in the soldier systems market report are Safran SA, Leonardo S.p.A., Rheinmetall AG, L3Harris Technologies Inc., Lockheed Martin Corporation, Saab AB, Aselsan Elektronik Sanayi ve Ticaret A.Ş., Elbit Systems Ltd., General Dynamics Corporation, Thales Group, Teledyne Technologies Inc., Inova Design Solutions LLC, The Boeing Company, Northrop Grumman Corporation, Avon Protection plc, Banc 3 Technologies, Inc., Inmarsat Global Limited, Metravib Defense SA, Teldat Group, S.A., Textron Systems Corporation, Raytheon Technologies Corporation, BAE Systems plc, Harris Corporation, Leidos Holdings Inc., KBR Inc., CACI International Inc., QinetiQ Group plc, Cobham plc, Ultra Electronics Holdings plc, Chemring Group plc, Hanwha Corporation, Bharat Electronics Limited, Israel Weapon Industries Ltd., ST Engineering, RUAG AG, Nexter Systems, Oshkosh Corporation, Navistar International Corporation, Kongsberg Gruppen ASA, FN Herstal S.A.
The soldier systems market report table of contents includes:
1. Executive Summary
2. Soldier Systems Market Characteristics
3. Soldier Systems Market Trends And Strategies
4. Soldier Systems Market – Macro Economic Scenario
5. Global Soldier Systems Market Size and Growth
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31. Global Soldier Systems Market Competitive Benchmarking
32. Global Soldier Systems Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Soldier Systems Market
34. Soldier Systems Market Future Outlook and Potential Analysis
35. Appendix
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