The global market for soldier systems is getting traction from the defense sector and is slated for a substantial rise during the forecast period covering 2018 to 2023. Market Research Future (MRFR) discussed several factors and dynamics that may have a crucial impact on market growth.
Factors like the growing expenditure in the defense sector to boost the security system, hike in demand to reduce the fatality count during the war, boosting the situational awareness of soldiers to make their efforts effective, better assessment of situations including terrorist attacks and others are expected to boost the global market.
But the difficulties in procurement instruments may hinder the soldier systems market growth.
The global market for soldier systems has been segmented by the expert analysts of MRFR on the basis of type and end user. These segments have inputs and insights that can simplify the strategy-making process. These insights have been backed by various factors and their studies with figures and charts to make the claims more reliable.
By type, the global market report on the soldier systems has been segmented on the basis of protection systems, communication systems, surveillance & target acquisition systems, navigation & health monitoring systems, vision systems, power & data transmission systems, and others. The communication systems segment leads to the global market.
By end user, the study on the soldier systems market has been segmented on the basis of national defenses and public security. The national defense segment is leading the global market.
North America has the opportunity to lead the global market as the region has some of the biggest defense market spenders like the US and Canada. Most of the companies are also from the US, owing to which the market has strong growth pockets. On the other hand, these companies are also some of the biggest suppliers of technologies. Hike in investment for innovations is also expected to boost the market.
The global market for soldier systems is benefiting from the advancements of companies like Elbit Systems Ltd. (Israel), Aselsan AS (Turkey), BAE Systems plc (UK)Leonardo S.p.A (Italy), General Dynamics Corporation (US), Harris Corporation (US), Thales SA (France), Rheinmetall AG (Germany), Saab AB (Sweden), and United Technologies Corporation (US). These companies are contributing to the growth of the global market by spurring the demand for advanced technologies, increasing investment in the research and development sector, better merger and acquisition deals, joint ventures, innovations, launching of new products, and others. The competition to edge out each other on the basis of these strategies is benefiting the global market. MRFR, in an attempt to reach closer to the market, records the latest moves initiated by these companies and, in the process, simplified the decision-making process.
In May 2020, FLIR started supplying its Black Hornet 3 to the US Army. FLIR Systems, Inc. announced that it received an additional $20.6 million contract from the U.S. Army that has its focus on FLIR Black Hornet® 3 Personal Reconnaissance Systems (PRS). The technology can be described as the advanced nano-unmanned aerial vehicles (UAVs) that can support platoon- and small unit level surveillance and reconnaissance capabilities. These are part of the Army’s Soldier Borne Sensor (SBS) program.
The original contract was signed in January 2019, where the signing amount was USD 39.7 million. The company has recently started delivering all the systems to the US Army spread across the country.
Soldier Systems Market: Information by Type (Protection, Communication, Power & Data Transmission, Surveillance & Target Acquisition, Navigation and Other Systems), by End-User (National defense and Public Security), and by Region — Global Forecast till 2023 @ https://www.marketresearchfuture.com/reports/soldier-systems-market-7157