Wearable sensors are smart electronic devices worn on the body as accessories or implants which incorporate various features and functions. Wearable sensors comprise Internet of Things (IoT) such as software sensors, electronics, and connectivity that help objects to transfer data with the help of operator, manufacturer, and other related connected devices. Wearable sensors are now being heavily incorporated in the defense industry to cope up with the advancements in technology. Development of smarter, smaller, and cheaper sensors are likely to propel the demand for military wearable sensors over the forecast period. Increasing focus on the development of biosensors to analyze the mental health of a warrior is likely to be one of the crucial driving factors for the growth of the military wearable sensors market over the forecast period. Rise in need for military wearable sensors to monitor the psychological health of soldiers is also expected to fuel the market. These devices have the ability to integrate with other devices to transfer data at high accuracy and efficiency levels. U.S Army Research along with Defense Advanced Research Projects Agency (DARPA) has cooperated with Profusa to innovate and develop biosensors that are able to deliver real time health updates. Introduction and improvement of next generation sensors is likely to gain traction in this market. Rise in need for light weight and small size sensors which can be implanted in the skin is likely to drive the protection level of soldiers. This is likleyto facilitate the development of protection systems. Integration of IoT and AR technologies is likely to improve the growth potential of the military wearable sensors market over the forecast period.
By product type, the military wearable sensor market has been segmented into military device based sensors and military clothing based sensors. Military device based sensors comprise key chains, goggles, watches, and health tracking enabled wristbands. Military device based sensors held the dominant share of the military wearable sensors market in 2016 and the segment it is likely to retain its position over the forecast period. These devices contain global positioning systems to display and track the position of personnel and physical structures on the field. Moreover, the military based devices help to track the actual time data of soldiers in case of situational consciousness.
By geography, the military wearable sensors market is segregated into North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America. North America accounted for the dominant market share in 2016 and is likely to retain its dominance over the forecast period. Rise in demand from this region to improve military modernization efforts is expected to fuel the demand for military wearable sensors over the forecast period. Significant investment for the development and monitoring of solider health so as to develop the data security of military platforms is expected to drive the market in this region. Collaborations in order to develop the record and collection of data about soldiers is also expected to drive the military wearable sensors market in this region. Europe is predicted to be one of the most attractive markets in military wearable sensors owing to the huge spending on defense in this region. Germany, France, and the U.K. are likely to occupy significant shares of the military wearable sensors market over the forecast period. Asia-Pacific is an emerging region for the military wearable sensors market due to the adoption of IoT technologies for advancement of its defense industry.
The military wearable sensors market is highly fragmented and there is a large presence of numerous global vendors across the globe. Key players in the military wearable sensors market are Ledios, Boeing, Safran Group, TT Electronics, Lockheed Martin, Rheinmetall, Innova Design Solutions, Arralis, and Q-Track, among others.
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Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
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- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
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Below is a snapshot of these quadrants.
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The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
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10. What will be the barrier to entry for new players in the market?
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