Military wearables are smart electronics devices and equipment that are incorporated into a soldiers uniform or attached to the body as implants or accessories. The military wearables market size is projected to grow from USD 3.1 Billion in 2022 to USD 3.4 Billion by 2027, at a CAGR of 1.8% from 2022 to 2027. Armed forces from various nations around the world have been working to empower their soldiers with cutting-edge technologies like advanced head mounted displays, body diagnostics sensors, advanced personal clothing, improved navigation & communication devices, and other types of military wearables in an effort to increase the level of protection for their soldiers.
Contracts, partnerships, agreements new product & service launches, mergers and acquisitions are among some of the key strategies adopted by the leading market players to strengthen and sustain their position in the military wearables market.
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Major players operating in the Simulators market include BAE Systems PLC (UK), Elbit Systems Ltd. (Israel), Rheinmetall AG (Germany), Thales Group (France), Saab AB (Sweden), Aselsan A.S (Turkey), General Dynamic Corporation (US), Teledyne FLIR LLC (US), Bionic Power (Canada), L3Harris Technologies Inc. (US), Leonardo S.p.A. (Italy), Lockheed Martin Corporation (US) and many more. These key players offer Military Wearables market across different industries and have well-equipped and strong distribution networks across the North American, European, Asia Pacific, Middle East, and Rest of the World regions.
Elbit Systems Ltd
Elbit Systems Ltd, is a world leader in military wearables market. It designs and manufactures a variety of airborne, naval, and ground systems & equipment for commercial aviation, defense, and homeland security. Elbit Systems have operational facilities in US, Europe, Brazil, and Australia. Elbit Systems Ltd. has a strong presence in the military wearables market. The company has become a significant player in the field of airborne, land commercial, and military products and solution.
Rheinmetall AG is a leader in defense technologies. The company focuses on strategies such as contracts and new product developments to expand its customer base and product portfolio. The company offers a wide range of products through vehicle systems, weapon & ammunition, and electronics solutions. The company allocates on an average of 5.1% of its annual return to its R&D centre. Rheinmetall AG is the major supplier to the Germany.
Thales Group is another major player in the military wearables market. It has a strong military wearables portfolio to cater to the needs of the defense sector. The company is majorly focused on R&D to develop new products, and to have a competitive advantage over its competitors. The company is also focusing on securing contracts to enhance its customer base and market share across the globe. The company has operating units in 68 countries around the globe.
Saab AB is another major player in the military wearables market that is focused on strengthening its presence in key markets by developing innovative solutions and making key acquisitions in prioritized areas. The company strategizes to develop the right combination of products and solutions to address the evolving needs of the customers, which enables Saab to become more efficient and more focused on project execution, marketing, and sales. The company operates in over 30 countries and has sales of its products in over 100 countries globally.
BAE Systems PLC
BAE Systems plc is an international defense, aerospace, and security company delivering a full range of products and services for air, land, and naval forces. The company also offers advanced electronics, security, information technology solutions, and customer support services. Besides, the company is also active in the design, development, and manufacturing of a wide range of electronic systems and subsystems for both military and commercial applications, specialized security and protection products, while also offering service support of armored combat vehicles, artillery systems, and munitions.
Military Wearables Market by End User (Army, Navy, Air Force), Technology, Wearable Type (Headwear, Eyewear, Wristwear, Hearables and Bodywear) and Region (North America, Europe, Asia Pacific, Middle East, Rest of the World) - Global Forecast to 2027
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