The soldier systems market is projected to grow from USD 9.78 billion in 2018 to USD 14.14 billion by 2023, at a CAGR of 7.65% during the forecast period from 2018 to 2023. Rheinmetall AG (Germany), General Dynamics (US), Elbit Systems (Israel), Thales Group (France), Saab AB (Sweden), Leonardo (Italy), and Rockwell Collins (US), among others, are the key players operating in the soldier systems market. These companies have manufacturing facilities, worldwide. These leading players of the market are focused on technological innovations for the development of high-quality soldier systems and devices. The soldier systems market is a highly competitive market, with a large number of global and local market players operating in it. These key players have adopted various strategies to expand their global presence and increase their market shares. Contracts and new product launches are the major strategies adopted by these market players to grow in the soldier systems market.
Top 2 players in the soldier systems market
Rheinmetall AG is the leading player in the soldier systems market, based on its revenue, products offered in the soldier systems market, and contracts received by it in recent years. In February 2018, the company was awarded a USD 211.0 million contract by the Government of Canada to supply integrated soldier systems for the Canadian Armed Forces.
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General Dynamics is the second-largest player in the soldier systems market. In 2016, the company received a contract worth USD 148.3 million from the UK Ministry of Defence for supplying improved Bowman tactical communications systems for the British Armed Forces. Besides supplying upgraded and enhanced Bowman tactical communications systems, the company is also expected to supply an updated version of the battle management system and approximately 12,000 new data terminals. General Dynamics also carries out R&D activities involving applied research for developing new products and systems. R&D investments remain the top priority of the company and hold the key to its competitiveness in the soldier systems market.
Elbit Systems, (Israel), Leonardo (Italy), Saab AB (Sweden), Rockwell Collins (US), FLIR Systems (US), Harris Corporation (US), and Thales Group (France) have made significant contributions to the soldier systems market. These companies, along with L-3 Warrior Sensor Systems (US), are expected to witness significant growth in the coming years, primarily owing to the long-term contracts and new product launches strategies adopted by them.
Soldier Systems Market by End User (Military, Homeland Security), Type (Personal Protection, Communication, Power and Transmission, Surveillance and Target Acquisition, Navigation and Health Monitoring, Vision), Region - Global Forecast to 2023
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