The report presents an in-depth assessment of the Military Exoskeleton including enabling technologies, key trends, market drivers, challenges, standardization, regulatory landscape, deployment models, operator case studies, opportunities, future roadmap, value chain, ecosystem player profiles and strategies. The report also presents forecasts for Military Exoskeleton investments from 2019 till 2024.
The military exoskeleton market is expected to register a CAGR of over 15% during the forecast period.
Rostec, Lockheed Martin Corporation, Sarcos Corp., SRI International, Safran SA are some of the major players in the market. The military exoskeleton market is still in its infancy stage, with many players developing new types of exoskeleton prototypes. In markets like these, technology transfer can be best achieved through strategic partnerships, and the players have realized this and are coming together to develop new types of exoskeletons to suit the purposes of the military customers.
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Scope of the Report
Active exoskeletons are powered and use an integrated power supply. They are used to enhance the activities of the personnel who wear them, while passive exoskeletons are simpler in structure and are used mostly to support the load on the joints and bones.
Key Market Trends
Passive Exoskeleton Segment has the Highest Share in the Market in 2018
As of 2018, passive exoskeleton segment has the highest share in the market. Development of passive exoskeletons is being done on a large scale currently. In August 2018, Russias Rostec showcased its third generation Ratnik infantry combat suite, a passive exoskeleton which increases the physical abilities of a soldier and protects joints and the spine. Also, the price of the passive exoskeletons was comparatively less than the active exoskeletons, which made the militaries to incline towards these in their purchase plans, although the amenities they offer are less compared to those of the active exoskeletons. But, during the forecast period, active exoskeleton segment is projected to grow with the highest CAGR. Increasing R&D investments in active exoskeleton technologies and the efforts to reduce their costs are the main factors supporting the expected high growth of the segment.
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Europe Expected to Register the Highest CAGR During the Forecast Period
Currently, North America has the highest market share in the military exoskeleton market, mainly due to the high purchasing capacity of the United States and the presence of many manufacturers in the country. The country is investing huge amounts in the research, development, and testing of the exoskeletons. The technology, which is in its nascent stage, is slowly hitting the mainstream. Europe region is projected to grow with the highest pace in the market during the forecast period. Russia is a major market for the exoskeletons in the region, whereas other countries like Spain, the United Kingdom, and France are also developing new exoskeleton models for their militaries. The ongoing developments in the market are projected to increase on a large scale, helping the market growth in the region.
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What are the market factors that are explained in the report?
–Key Strategic Developments: The study also includes the key strategic developments of the market, comprising R&D, new product launch, M&A, agreements, collaborations, partnerships, joint ventures, and regional growth of the leading competitors operating in the market on a global and regional scale.
–Key Market Features: The report evaluated key market features, including revenue, price, capacity, capacity utilization rate, gross, production, production rate, consumption, import/export, supply/demand, cost, market share, CAGR, and gross margin. In addition, the study offers a comprehensive study of the key market dynamics and their latest trends, along with pertinent market segments and sub-segments.
–Analytical Tools: Military Exoskeleton Market report includes the accurately studied and assessed data of the key industry players and their scope in the market by means of a number of analytical tools. The analytical tools such as Porter’s five forces analysis, feasibility study, and investment return analysis have been used to analyzed the growth of the key players operating in the market.
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