; Military Exoskeleton Market Size, Share, Analysis, Forecast, 2031

Military Exoskeleton Market

Military Exoskeleton Market: By Type (Full Body Exoskeleton, Partial Body Exoskeleton), By Power (Active Exoskeleton, Passive Exoskeleton), By Body Part (Upper Body, Lower Body, Full Body), And Region - Global Analysis of Market Size, Share & Trends For 2019-2021 And Forecasts To 2031

Published on: May-2023
Report Code: FG A&D 01487
No. of Pages: 170-350
Report Format: PDF

Product Overview

Global Military Exoskeleton Market to surpass USD 4.9 billion by 2031 from USD 1.5 billion in 2021 at a CAGR of 12.9% in the coming years, i.e., 2021-2031.

Soldiers use exoskeletons or exo-suits over their regular uniforms to increase their strength. The equipment includes high-powered special technologies as well as artificial intelligence to improve a soldier's capabilities. They can be built of hard and brittle materials like metal and carbon fiber, or soft and pliable ones like rubber. An exo-suit fitted to a soldier should increase his additional load carrying capability by 100kg for a minimum of 8 hours of operational time, with a battery backup of 3-5 hours. Soldiers patrolling in high-altitude environments use leg gear that helps them walk in the snow. It also helps soldiers cope with weariness and exhaustion in low-oxygen environments. They release more than half of the load burden, which reduces the injury to the soldiers.

Market Highlights

Global Military Exoskeleton Market is predicted to witness a notable CAGR of 12.9% by 2031

Global Military Exoskeleton Market to surpass USD 4.9 billion by 2031 from USD 1.5 billion in 2021 at a CAGR of 12.9% in the coming years, i.e., 2021-2031. The military exoskeleton business is being propelled forward by technological breakthroughs in modern combat. Efforts are being made to improve the efficiency of military exoskeletons through the adoption of new technologies, which are projected to boost the market's growth in the coming years.

 

Global Military Exoskeleton Market: Segments

Partial Body Exoskeleton segment is expected to lead over the forecasted period

The market has been divided into two types: full-body exoskeleton systems and partial body exoskeleton systems. The worldwide military exoskeleton industry is projected to be dominated by partial body exoskeletons. This technology can assist soldiers and first responders go the extra mile while carrying mission-critical equipment by lowering the effort required for walking and climbing.

Active Exoskeleton segment is expected to witness maximum growth during 2021-31

An electromechanical robotic apparatus made up of electric motors, batteries, body structure, actuators, hydraulics, and joints are known as an active or powered exoskeleton. Active robotic exoskeletons are used to improve efficiency by enabling stroke or spinal cord injury rehabilitation, as well as increased strength and endurance, allowing military personnel in high-risk regions to be more productive.

 

Market Dynamics

Drivers

Growing advancements to reduce the weight of the Military Exoskeleton is driving the market

The addition of electronics (military exoskeletons) adds to the overall weight of the suits, making it harder for soldiers to move quickly. The development of lightweight exoskeletons will significantly lower the weight of soldiers while also improving their mobility. During the forecast period, these factors are projected to significantly boost demand for military exoskeletons.

Technological improvements to surge efficiency are boosting the market growth

The military exoskeleton market is primarily driven by technological improvements in modern combat. Efforts are being made to improve the efficiency of military exoskeletons through the adoption of new technologies, which are projected to move the market studied forward in the coming years.

Restraint

High cost associated with the Military Exoskeletons

The adoption of the suits is the biggest stumbling block in the global military exoskeleton business. The high buying costs of exoskeletons have slowed their acceptance. Efforts are now being undertaken to cut the cost of manufacturing these exoskeletons even more.

Global Military Exoskeleton Market:

Key Players

  • Bionic Power Inc.

Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis

  • Dephy Inc.
  • Ekso Bionics Holdings Inc.
  • Lockheed Martin Corporation
  • Raytheon Company
  • Revision Military LTD
  • Rostec
  • Safran S.A.
  • Sarcos Corporation
  • SpringActive
  • SRI International
  • Other Prominent Players

Global Military Exoskeleton Market: Regions

Global Military Exoskeleton Market is segmented based on regional analysis into five major regions: North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. Due to the United States' high purchasing power and the existence of many manufacturers in the country, the military exoskeleton market in North America is expected to grow at the fastest rate. The country is spending a lot of money on exoskeleton research, development, and testing. On the other side, Canada has been investing extensively in its Integrated Soldier System Project, which is aimed at modernizing its soldiers (ISSP). The project's main goal has been to deliver the best equipment and wearable products to its soldiers to prepare them for any type of combat.

 

Impact of COVID-19 on Global Military Exoskeleton Market

 

The influence of the COVID-19 pandemic on global economies was felt in a variety of markets around the world. However, the market for military exoskeletons was largely untouched, as were investments in new technology.

Global Military Exoskeleton Market is further segmented by region into:

  • North America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United States, Mexico, and Canada
  • Latin America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – Rest of Latin America
  • Europe Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United Kingdom, France, Germany, Russia, and Rest of Europe
  • Asia Pacific Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – India, China, South Korea, Japan, and Rest of Asia Pacific
  • Middle East and Africa Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – Africa and Rest of Middle East and Africa

The Global Military Exoskeleton Market report also contains an analysis on:

Global Military Exoskeleton Market Segments:

  • By Type

    • Full Body Exoskeleton
    • Partial Body Exoskeleton
  • By Power
    • Active Exoskeleton
    • Passive Exoskeleton
  • By Body Part
    • Upper Body
    • Lower Body
    • Full Body
  • Global Military Exoskeleton Market Dynamics
  • Global Military Exoskeleton Market Size
  • Supply & Demand
  • Current Trends/Issues/Challenges
  • Competition & Companies Involved in the Market
  • Value Chain of the Market
  • Market Drivers and Restraints

Global Military Exoskeleton Market Report Scope and Segmentation

Report Attribute

Details

Market size value in 2021

USD 1.5 billion

Revenue forecast in 2031

USD 4.9 billion

Growth Rate

CAGR of 12.9% from 2021 to 2031

Base year for estimation

2020

Quantitative units

Revenue in USD million and CAGR from 2021 to 2031

Report coverage

Revenue forecast, company ranking, competitive landscape, growth factors, and trends

Segments covered

 

Type, Power, Body Part, and  Region

Regional scope

North America, Europe, Asia Pacific, Latin America, Middle East & Africa (MEA)

Key companies profiled

Bionic Power Inc., Dephy Inc., Ekso Bionics Holdings Inc., Lockheed Martin Corporation, Raytheon Company, Revision Military LTD, Rostec, Safran S.A., Sarcos Corporation, SpringActive, and SRI International and Other Prominent Players.

 

Frequently Asked Questions (FAQ):

The Global Military Exoskeleton Market size was estimated at USD 1.5 billion in 2021 and is expected to reach USD 4.9 billion in 2031

The Military Exoskeletons are used for back support, since the user's motion, and send a signal to motors which manage the gears. The exoskeleton supports the shoulder, waist, and thigh, and assists movement for lifting and holding heavy items while lowering back stress.

The partial Body Exoskeleton segment accounted for the largest Global Military Exoskeleton Market share.

Key players profiled in the Global Military Exoskeleton Market include Bionic Power Inc., Dephy Inc., Ekso Bionics Holdings Inc., Lockheed Martin Corporation, Raytheon Company, Revision Military LTD, Rostec, Safran S.A., Sarcos Corporation, SpringActive, and SRI International.

Growing advancements to reduce the weight of the Military Exoskeleton along with technological improvements to surge efficiency are boosting the market growth.

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