Market Insights
The military wearables market was estimated at US$ 3.3 Billion in 2021 and is expected to grow at a CAGR of 2.1% during 2022-2028 to reach US$ ~4.1 Billion in 2028.
The gear that troops use while on operations or in military drills is known as military wearables. Global soldier casualties are decreased thanks to technology. Military wearables come in various forms, including headgear, eyeglasses, bodywear, and others. Military wearables enable total situational awareness, improve communication between troops and military stations, and monitor soldiers' physical health while on operations. One of its additional advantages is the capacity of military wearables to resist difficult climatic conditions, such as high temperatures, inside water, and others. Numerous nations are making investments in very effective military wearables. For instance, the U.S. army and Lockheed Martin agreed on a 7.5 million USD deal in November 2019 to improve exoskeletons.
The proclaimed lockdowns and governmental limitations on public gatherings have slowed the production rate of military wearables businesses worldwide. Canceling training activities like Pitch Black 2020, Milan 2020, and others owing to the COVID-19 problem may affect the purchase of military wearables. After COVID-19, the need for military wearables will significantly increase as combat training will resume. Due to the COVID-19 epidemic, governments' expenditure is shifting toward economic recovery, which might cause manufacturers to get fewer orders for military wearables.
The market for military wearables is expanding due to causes such as rising asymmetric warfare, purported geopolitical crises, and plans for troop modernization. However, it is anticipated that the market development would be hampered by emerging economies purchasing conventional combat equipment rather than cutting-edge military wearables. On the other hand, the exoskeleton, smart textiles, power and energy management, and communication and computing present opportunities for the market for military wearables to expand in the future.
Defense agencies' priority has been ensuring the safety of their troops, particularly in light of the ongoing conflicts in places like Yemen, Syria, and Iraq. Military wearables keep tabs on the soldiers' movements and give the military office real-time situational knowledge, which enhances the soldiers' teamwork. Military wearables also help with troop training. Military wearables will thus continue to be in demand due to the increased necessity for army coordination and training.
Emergency economies are increasingly characterized by financial instability, a severe obstacle to market expansion. Due to high inflation and low GDP, developing nations like South Africa, Sudan, and the Philippines, among others, are compelled to spend less money on cutting-edge military technology and more money on traditional weapons systems. Due to rising economic concerns, these countries have dramatically reduced their defence investment and expenditure. This prevents many countries' defense ministries from making investments to improve the capabilities of their army systems, which is restricting the growth of the market for military equipment.
Most countries now lack clarity on their fighting needs due to the rapidly evolving nature of the battle. The expected performance of technologies and their availability are also at odds with one another. The current system-based efforts for upgrading soldiers are hampered by this lack of technological preparation from continuing forward as planned. Additionally, the ambiguity surrounding the long-term military requirements of many countries and the incapacity of technology to deliver to expectations. Governments like India, South Korea, and Brazil have chosen the incremental approach, which modernizes military wearables in stages, to ensure sustained procurements and avoid protracted delays. These governments have recognized the challenges faced by the soldier modernization program pioneers.
Several investments/guidelines in the industry have been directed in recent years, which would boost the overall market. Some of them are:
- Global producers of military wearables are always working to offer a variety of cutting-edge technology in the fields of communication and intelligence to support troops' tactical and rapid combat actions. In order to solve shortcomings in lethality, mobility, survivability, sustainability, and C4I, companies developing contemporary military wearables place a heavy focus on developing integrated modular military wearables. Defense agencies from several countries are developing and manufacturing better or even ballistic materials. Modern technologies are helpful when injured soldiers are unable to send a message for assistance. Smart clothing responds to these circumstances by identifying the issues and sending the relevant information using radio communication devices..
Segment Analysis
Based on the technology, the market is segmented into communication & computing, network and connectivity management, navigation, vision & surveillance, exoskeleton, monitoring, power, and energy source.
Based on wearable type, the hat sector is anticipated to dominate the military wearables market during the anticipated period. The wearables market is driven by a significant demand for headgear incorporating cutting-edge technology, including augmented reality (AR) and virtual reality (VR). A fire control computer, an integrated camera, and a display with improved low-light performance are all features of contemporary military wearables. For instance, Surface Optics Corporation created a multispectral 3D camera technology that collects the data necessary to produce entire multispectral cubes with each focus plane exposure.
In terms of regions, North America is likely to maintain its supremacy in the military wearables market throughout the forecast period. In terms of market share for portable military sensors in 2020, North America is expected to continue to lead the sector. The growth of military platform data security is predicted to fuel the need for portable military sensors in the next years due to the increased requirement for better military modernization efforts and large investments to monitor and develop the military's health.
Concurrently, Asia Pacific is expected to witness the fastest growth in the military wearables market during the forecast period. Most nations in the area aim to make infantry soldiers more deadly, resilient, and mobile while also transforming them into independent fighting units. The expansion of the military wearables market in the area is also driven by increased defence spending and expenditures in upgrading various law enforcement organizations in these nations.
Research Methodology
This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact book, press release, journals, investor presentation, white papers, patents, and articles have been leveraged to gather the data. We conducted more than 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both the qualitative and quantitative insights.
