Market Research Report
The Global Soldier Modernization Market 2017-2027
|Published by||Strategic Defence Intelligence||Product code||297177|
|Published||Content info||152 Pages
Global Soldier Modernization market is expected to value US$9.0 Billion in 2017, and will grow at a CAGR of 4.00%, to value US$13.3 Billion by 2027. The cumulative market for global expenditure on soldier modernization will reach US$118.0 Billion over the forecast period.
The C4ISR segment is expected to be the largest soldier modernization market during the forecast period. The fast paced technological advancement in this domain has led to the growing demand of C4ISR based soldier modernization systems rendering earlier equipment obsolete. Driven by large scale procurement as well as upgrade programs that are being undertaken by several nations across the world, the C4ISR based systems are expected to account for the largest share of 36% in the global market over the forecast period.
The global soldier modernization market is expected to be dominated by North America. Despite the defense budget sequestration, the region is expected to record a CAGR of 3.67% between 2017 and 2027. Overall, North America is projected to spend US$45.4 Billion on soldier modernization over the forecast period. In 2017, regional expenditure is expected to value US$3.7 Billion and increase to US$5.4 Billion by 2027.
By establishing partnerships for R&D with global soldier modernization system manufacturers, a significant number of countries are investing in the development of their domestic soldier modernization system development capabilities. These ventures are expected to help countries whose domestic defense industry is not so developed, by allowing technology transfers. In addition, partnerships between defense firms have also increased. One such joint venture (JVs) is the collaboration between two major communication devices experts, Harris Corporation and ITT Corporation, to accelerate the fielding of the Soldier Radio Waveform, part of the US DoD's networked digital battlefield.
The report "Global Soldier Modernization Market 2017-2027" offers detailed analysis of the Global Soldier Modernization Market over the next ten years, and provides market size forecasts. Furthermore, it covers key technological and market trends in the industry, and analyzes factors influencing demand for soldier modernization.
In particular, it provides an in-depth analysis of the following -
The global soldier modernization market, valued at US$9.0 billion in 2017, is projected to grow at a CAGR of 4.00% over the forecast period, to reach US$13.3 billion by 2027 and cumulatively value US$118.0 billion.
The market consists of five categories: C4ISR, survivability, sustainability, mobility and lethality.
The market is expected to be dominated by C4ISR segment, which will account for 38% of the market, followed by Lethality and Survivability with shares of 28% and 26% respectively.
North America is forecasted to dominate the sector with a share of 38%, followed by Asia Pacific and Europe, with shares of 28% and 23% respectively.