(EMAILWIRE.COM, March 12, 2020 ) The soldier system market was valued at USD 9.78 billion in 2018 and is projected to reach USD 14.14 billion by 2023, at a CAGR of 7.65% during the forecast period from 2018 to 2023. This report forecasts the market and provides information on its dynamics for the next 5 years. It also recognizes the application gaps for soldier systems, recent developments in the market, and high potential markets for soldier systems. Rising incidences of asymmetric warfare, increasing number of soldier modernization programs being carried out by different countries across the globe are the key factor driving the demand for soldier system market.

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Driver: Increasing number of soldier modernization programs being carried out by different countries across the globe

Traditional ground soldier systems included uniforms, weapons, helmets, and bedrolls. However, the emergence of asymmetric warfare and the continuous advancements in weapons have led to the increased demand for technologically advanced soldier systems. As such, a number of countries across the globe are carrying out soldier modernization programs to incorporate new and advanced technologies in their soldier systems to improve interoperability of these systems. Innovations in the fields of networked soldier technologies and future soldier outfits have led to the development of new and advanced soldier systems to enhance battlefield capabilities of soldiers

Modernization of the armed forces to adapt to the digital battlefield is expected to drive the demand for military segment

Soldier System Market based on end user, the two segments considered for this analysis are military, which includes infantry and special forces; and homeland security, which includes police and paramilitary forces. growth can be attributed to the increasing military expenditures by major economies as well as military modernization programs. This high growth can be attributed to the increasing military expenditures by major economies of the region, along with the rising number of conflicts, wars, and cross-border disputes in the Asia Pacific region.

The Asia Pacific soldier systems market is projected to grow at the highest CAGR during the forecast period.

The Asia Pacific soldier systems market is projected to grow at the highest CAGR from 2018 to 2023. The rapid growth of the soldier systems market in the Asia Pacific region can be attributed to the innovations being carried out in emerging economies such as China and India for the development of advanced soldier systems. The countries in the Asia Pacific region are conducting military modernization programs for their ground troops by domestically developing various types of soldier subsystems, equipment, and gears.

China is expected to account for the largest share of the Asia Pacific soldier systems market in 2018. The growth of the China soldier systems market can be attributed to the ongoing R&D activities in the country for the development of advanced technologies and solutions for soldier systems.

Major players in the soldier systems market are Rheinmetall AG (Germany), General Dynamics (US), Elbit Systems (Israel), Leonardo (Italy), Saab AB (Sweden), Rockwell Collins (US), FLIR Systems (US), Harris Corporation (US), and Thales Group (France), among others.

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