Albany, NY -- (SBWIRE) -- 05/12/2014 -- The Global Soldier Modernization Market 2014-2024” offers the reader detailed analysis of the global soldier modernization market over the next ten years, alongside potential market opportunities to enter the industry, using detailed market size forecasts.
The soldier modernization market is going through rapid technological developments with major innovations in the fields of networked soldier technology and future soldier outfit modernization. The defense procurement agencies of various countries are constantly updating the various manufacturers on potential future requirements in fields of lethality, survivability, C4ISR, sustainability and mobility.
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This makes it absolutely essential for the leading military nations of the world to routinely invest in science and technology as well as research and development in order to ensure they maintain their technological edge. Given these factors, the demand for soldier modernization solutions will be driven by the continual digitization of the modern battlefield where many nations are fielding infantry who are capable of utilizing tools such as advanced navigation, as well as communication and targeting equipment. Technological advances in the fields of powered exoskeletons and fuel cells will also drive the soldier modernization market as leading military nations search for ways to minimize costs while deploying these technologies on the battlefield.
“The Global Soldier Modernization Market 2014-2024” provides detailed analysis of the current industry size and growth expectations from 2014 to 2024, including highlights of key growth stimulators. It also benchmarks the industry against key global markets and provides detailed understanding of emerging opportunities in specific areas.
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Key Features and Benefits
The report provides detailed analysis of the market for soldier modernization systems during 2014-2024, including the factors that influence why countries are investing or cutting expenditure on soldier modernization. It provides detailed expectations of growth rates and projected total expenditure.
A significant number of countries are investing in the development of their domestic solider modernization industry by establishing strategic alliances and technology transfer agreements with established global manufacturers. In addition to improving the indigenous capabilities of a domestic firm, this provides the foreign company with an opportunity to cater to a new market. Partnerships between countries that possess an advanced defense industrial base, such as US and India, aid the mutual sharing of advanced technology.
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Key Market Issues
Followed by the recent US and Eurozone economic crisis, numerous countries around the world have implemented serious austerity measures on their defense budgets during the last two to three years. This has adversely affected the progress of many nations' soldier modernization programs which were underway as well as resulted in reconsiderations among countries with planned programs. The militaries have widely adopted troop downsizing as an immediate effort of cost cutting which is negatively affecting the economies of scale of the orders for new soldier kits as part of total soldier modernization programs. Troop downsizing can be observed among numerous major militaries including the US, the UK, France, Germany, Spain, Italy, and South Korea. Some of the major examples for defense ministries cutting down on their soldier modernization spending include the delays and scarcity of funds for the Land Warrior Program in the US and reduction of orders for soldier kits by France and the UK. France intended to procure 32000 FELIN kits for its troops which however were cut by 10000 kits and similarly the UK also had intentions to buy 35000 FIST kits which too are expected to be reduced considerably.
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