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Global Soldier Modernization Market to Reach US$9.4 Billion by 2024

The Global Soldier Modernization market is worth US$6.7 billion in 2014 and is expected to value US$9.4 billion by 2024, representing a CAGR of 3.54% during the forecast period, according to Reportstack’s latest report on The Global Soldier Modernization Market 2014-2024. The constantly evolving nature of wars around the world and the militaries’ immediate requirement to be battle ready in situations ranging from low intensity conflicts to full scale wars or from civil unrest to counter-terrorism operations is driving the current soldier modernization market. This report offers detailed analysis of the Global Soldier Modernization systems market, with the identification of market drivers augmenting its provision of historic and forecast data for the next decade. Together with its investigation of the developments and challenges in the industry, analysis of key markets, major programs, and the competitive landscape, along with SWOT analysis of the industry as a whole.

Key Insights Include:

  • Followed by the recent US and Eurozone economic crisis, numerous countries around the world have implemented serious austerity measures on their defense budgets during the last two to three years. This has adversely affected the progress of many nations’ soldier modernization programs which were underway as well as resulted in reconsiderations among countries with planned programs. 

  • The militaries have widely adopted troop downsizing as an immediate effort of cost cutting which is negatively affecting the economies of scale of the orders for new soldier kits as part of total soldier modernization programs. 

  • Reducing the weight of soldier equipment without compromising protection and combat performance is a key challenge for the soldier modernization industry. Modernization of soldier systems to protect, mobilize and empower the soldier has resulted in an exponential increase in the total weight being carried. The combined weight of equipment prevents them from being agile, mobile and effective war fighters and lives of soldiers are being put at risk as heavy lifesaving equipment is often being left behind. 

  • Defense agencies worldwide are focusing on sourcing and integrating the most affordable, lightweight soldier equipment and technology to reduce the burden to personnel. For example, the US, through its Nett Warrior program, is making substantial progress in lightening the soldiers load while still delivering next generation capabilities.

In particular, it provides an in-depth analysis of: 

  • Global Soldier Modernization market size and drivers: detailed analysis of the Global Soldier Modernization market over the next ten years, alongside potential market opportunities to enter the industry, using detailed market size forecasts.

  • Recent development and industry challenges: Recent years have witnessed the spiraling importance of network-centric warfare (NCW), which utilizes digitized operational assets to leverage information supplied in times of war. Various technological and structural efforts aim to create an information-based army that is capable of responding to threats more quickly, thereby effectively fighting asymmetric enemies.

  • SWOT analysis of the Soldier Modernization systems market: a study of the Global Soldier Modernization systems industry’s characteristics, using SWOT analysis to determine its strengths, weakness, opportunities, and threats.

  • Global Soldier Modernization systems country analysis: analysis of the key market in each region, providing an analysis of the top three government biometric systems segments expected to be in demand in each region.

  • Major programs: details of the top three programs in each segment expected to be in demand in each region.

  • Competitive landscape and strategic insights: analysis of competitive landscape of the Global Soldier Modernization systems industry. It provides an overview of key defense companies, together with insights such as key alliances, strategic initiatives, and a brief financial analysis.

 This will facilitate: 

  • Clear identification of the market opportunities and entry strategies to gain or grow market share in the Global Soldier Modernization systems market.

  • A proper understanding of the competitive landscape of the Global Soldier Modernization systems market, including key domestic and foreign defense companies, key alliances and strategic initiatives.

  • A clear understanding of market drivers and actionable insight on forthcoming developments that will shape the landscape of opportunity for the foreseeable future. 

The companies mentioned in this report are Lockheed Martin Corporation, Boeing Defense, Space and Security, General Dynamics, Raytheon, Safron Group, BAE Systems, SAIC (Science Applications International Corporation), Elbit Systems, Rheinmetall Defence Electronics, Samsung Thales, Bren-Tronics, Exelis Inc., Vectronix, Harris Corporation, Flir Systems Inc.  Please visit Soldier Modernization Market report to know more details about the report.

Contact:

Debora White
Email: debora@reportstack.com
Ph: +1-888-789-6604
Report link: http://www.reportstack.com/product/151390/the-global-soldier-modernization-market-2014-2024.html