Military Exoskeleton Market Scope
Growing Concern about safety will boost global military exoskeleton market. The military exoskeleton is an outer skeleton that protects the body from external attacks. It is made from hard materials that can bear the attacks as well as jerks and protects the human body from hurting. It is utilized for improved power with the help of which the soldiers are skilled in carrying heavy loads and maneuver easily along with the battleground and other places. Furthermore, the changing concept of war has led to the growth of biological weapons, which can be deadly to the human.
According to AMA, the Global Military Exoskeleton market is expected to see growth rate of 14.4%
The companies are exploring the market in new regions by adopting mergers & acquisitions, expansions, investments, new service launches and collaborations as their preferred strategies. Key players are exploring new geographies through expansions and acquisitions across the globe to avail a competitive advantage through combined synergies Research Analyst at AMA estimates that United States Players will contribute to the maximum growth of Global Military Exoskeleton market throughout the predicted period.
BAE Systems (United Kingdom), Raytheon Company (United States), General Dynamics Corporation (United States), Boeing (United States), Honeywell Aerospace (United States), Ekso Bionics Holdings (United States), Bionic Power (Canada), Safran S.A. (France), SpringActive, Inc. (United States) and Cyberdyne, Inc. (Japan) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research are ReWalk Robotics Ltd. (Israel) and Rex Bionics Plc (England).
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a
preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from total available market.
Segmentation Overview
The study have segmented the market of Global Military Exoskeleton market by Type (Full Body Exoskeleton and Partial Body Exoskeleton) and Region with country level break-up.
On the basis of geography, the market of Military Exoskeleton has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
Market Leaders and their expansionary development strategies
On 8th February 2019, The U.S. Army has awarded General Dynamics Land Systems a contract value up to 404 million dollars for Systems Technical Support (STS) for the Stryker Brigade Combat Team (SBCT).
Market Trend
- Growing Development of Lightweight Exoskeleton
- High Demand Of Advanced Communication Systems
Market Drivers
- Increasing Concern for Safety
- Rise Demand Due To It Can Avoid Direct Contact with Harmful Biological Elements Such As Gases
- Increasing Awareness on the Benefits of Using Exoskeleton Technology
Opportunities
- Technological Advancement in Military Exoskeleton
- Growing Number of FDA Approvals for Medical Exoskeletons
- Growing R&D in the Development of Exoskeletons for Industrial Use
Restraints
- High Cost Related With the Procuring Of the Exoskeletons
Key Target Audience
Manufacturing Companies, Traders, Distributors, and Suppliers, Governmental and Research Organizations, Associations and Industry Bodies, Technology Providers and Others