Military wearables market worth as much as $3.4 billion by 2027, study saysNews
August 09, 2022
NORTHBROOK, Ill. The market for military wearables -- defined as smart electronic devices and equipment incorporated into a soldier’s clothing or worn on the body as implants or accessories -- is projected to grow from $3.1 billion in 2022 to $3.4 billion by 2027, at a combined annual growth rate (CAGR) of 1.8%, according to a new report by MarketsandMarkets, "Military Wearables Market."
The study authors found that the military wearables market is spurred by the modernization initiatives undertaken by the defense agencies of several countries to achieve better battlefield situational awareness while also monitoring the critical vitals of deployed personnel to better assess a path for achieving tactical superiority. With these factors in mind, the study reports that a number of countries are taking advantage of newer technologies like advanced head-mounted displays, body diagnostics sensors, advanced personal clothing, improved navigation and communication devices, and other types of military wearables in an effort to increase the level of protection for their soldiers.
Based on technology, the video and surveillance segment is projected to lead the military wearables market during the forecast period, with the study finding major demand for augmented reality (AR) and virtual reality (VR) technology-based product. Moreover, advances in night-vision headwear technologies is also boosting demand and driving the market upward.
For additional information visit the MarketsandMarkets website.