Soldier Modernization Market is mainly driven by Increasing demand for C4ISR; U.S. is expected to dominate the soldier modernization market
Albany, NY -- (SBWIRE) -- 07/18/2017 -- Soldier modernization refers to an integrated system that addresses all operational requirements such as advanced combat helmet among others. The combat gear is designed in such a manner that it is more comfortable, light, and strong. The other advantages of the combat gear include modular ballistic protection and fire resistance. Some of the major factors boosting the market for soldier modernization includes increase in security threats globally, growth of technology, and increasing research & development in the defense sector. However, decreasing defense budgets in several developed countries such as the U.S. and the U.K. is likely to restrain the market during the forecast period.
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Based on types, the market is segmented into lethality, C4ISR, sustainability, survivability, mobility and others. In 2016, the C4ISR segment dominated the market followed by the sustainability segment and is anticipated to remain dominant in the coming years. Increasing demand for mobile command systems, frequent terror attacks, and increasing demand for border security are some of the major factors fueling the growth of the C4ISR segment globally. In addition, increase in the demand for C4ISR in several countries such as Brazil, Saudi Arabia, Israel, and India is expected to boost the market for soldier modernization. Moreover, increase in demand for exoskeletons and advanced powering systems are some of the other major factors expected to fuel the growth of the soldier modernization market during the forecast period 2017 – 2025.
The geographical split of the market includes North America, Asia Pacific, Europe, Latin America, and Middle East and Africa. In 2016, North America is the largest market followed by Asia Pacific. However, in 2025, Asia Pacific is anticipated to be the major market followed by North America. In 2016, the U.S. is the major market in North America. Despite budget cuts and limited military budget growth, the U.S. is expected to dominate the soldier modernization market. Increasing demand for C4ISR in the U.S. is one of the major factors driving demand. Asia Pacific is one of the most attractive regions for the soldier modernization market. In addition, Asia Pacific is also expected to be the major market by the end of the forecast period. Rising defense budgets in several countries such as India and China is a major driving factor for the market in the Asia Pacific region. China is expected to be the major market in Asia Pacific.
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Technological innovation and rapidly developing battlefield scenarios are some of the key factors boosting the growth of the market in the region. Rise in demand for C4ISR in China is driving the market in Asia Pacific. The market in Europe is anticipated to grow at a sluggish rate during the forecast period. Increase in capital expenditure is expected to be the major driver for the market in Europe. The U.K. is expected to be the major market in the European region. Increasing soldier modernization programs is one of the major factors boosting the demand for soldier modernization programs during the forecast period. The Middle East and Africa region is expected to grow at a healthy rate during the forecast period. Increase in defense budgets is the major factor boosting the soldier modernization market in the Middle East and Africa region. Modernization programs are expected to fuel the defense expenditure in Latin America during the forecast period. Moreover, Brazil is expected to invest significantly in C4ISR system which in turn is expected to drive the market for soldier modernization.
The major players in the soldier modernization market are General Dynamics Corporation (United States), BAE Systems Plc (United Kingdom), Safran Group (France), Lockheed Martin (United States), Raytheon (United States), Elbit Systems (Israel), Israel Weapons Industries (Israel), Boeing (United States), Glock (Austria) and Exelis Inc (United States) among others.