Global Military Exoskeleton Market: Overview
Increasing concern for safety has made the defense sector focus on wearable robotics with their soldiers all around the world. In the defense applications, particularly wearable robotics, exoskeleton systems are the key area of interest. These suits provide soldiers with a supplementary power to lift hefty loads and move quickly in the battleground. In addition, the altering concept of warfare has resulted in the development of biological weapons that can be harmful to the human body. In order to prevent direct contact with the biological elements, armies all around the world are extensively investing in military exoskeletons.
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Global Military Exoskeleton Market: Growth Factors
The military exoskeletons can avoid direct contact with harmful biological elements such as gases. This is the major factor boosting the demand of exoskeleton suits on a global level. Moreover, the necessity for swift coordination during warfare has resulted in the high demand of advanced communication systems, which are difficult to track by the enemy. Thus, it is a must to integrated the soldier suits with these electronics including optronics, radios, range finders, and navigation systems. On the other hand, integrating these electronics results in increased overall weight of suits, making it complicated to move swiftly for the soldiers. Developing of lightweight exoskeletons will considerably reduce the weight and provide benefits to the soldiers by boosting their mobility. These factors are anticipated to propel the military exoskeletons demand significantly in the near future. Nevertheless, the high price of exoskeletons in the market is a major factor hindering the growth of the global market. A single exoskeleton suit can cost up to $150,000.
Global Military Exoskeleton Market: Segmentation
The global military exoskeleton market is segmented on the basis of type and power. Based on the type, the global market is segmented as partial body exoskeleton and full body exoskeleton. On the basis of power, the global market is categorized as a passive exoskeleton and active exoskeleton. Geographically, the global military exoskeleton market is segmented as Europe, North America, Asia-Pacific, Latin America, and the Middle East and Africa.
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Global Military Exoskeleton Market: Regional Analysis
Europe and North America are anticipated to dominating the global military exoskeleton market in terms of revenue. The growth of the market in North America is contributed to the U.S. and Canada that are heavily investing in the development of lightweight exoskeletons. The deployment of the U.S. soldiers, in particular, Middle East areas and the unstable political conditions is propelling the demand of upgraded military exoskeletons and wearable in this region. On the other hand, emerging countries including China and India are focusing on advancing their defense capabilities, which is anticipated to boost the growth of the global military exoskeletons market in the near future.
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Global Military Exoskeleton Market: Competitive Players
Major players in the global military exoskeleton market include BAE Systems, Lockheed Martin Corporation, Raytheon Company, Boeing, General Dynamics Corporation, Honeywell Aerospace, Bionic Power, Ekso Bionics Holdings, SpringActive, Inc., and Safran S.A.
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