Published on : Apr 07, 2017
Albany, New York, April 07, 2017: The 152-page research publication, titled “The Global Soldier Modernization Market 2017-2027”, states that the market will exhibit a 4.0% CAGR over the course of the forecast period. The estimated opportunity in the market in 2017 stood at US$9.0 bn and is likely to rise to US$13.3 bn by 2027. The report predicts that the soldier modernization market will present a cumulative value of US$118.0 bn.
Analysts opine that there has been a rising demand for soldier modernization in the military forces and this is primarily on account of rapid technological developments in the field. Battlefield scenarios are constantly changing and this warrants the need for more evolved and effective solutions pertaining to survivability, mobility, sustainability, and lethality. The growing need for command, control, communications, computers, intelligence, surveillance, and reconnaissance (C4ISR) is also a major factor driving the soldier modernization market. Other factors likely to propel the market include rising need to enhance soldier effectiveness and an increase in counter insurgency campaigns.
The key segments covered in the soldier modernization market report are C4ISR, lethality, mobility, sustainability, and survivability. The findings of the research study state that C4ISR emerged as the dominant segment, accounting for an estimated 38.0% in the overall market. This is trailed by the lethality segment with a 28.0% share, followed by the survivability segment at 26.0%. From a regional perspective, North America is the leading segment with a 38.0% share. Asia Pacific comes in second with 28.0%, while Europe is a close third with a 23.0% share in the global soldier modernization market.
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The report is a comprehensive assessment of the current and projected dynamics of the global soldier modernization market and provides an analysis of the many factors that encourage and impact spending within the defense sector. Current industry practices, patterns of procurement and consolidation within the soldier modernization market, new processes and products inducted in the industry, innovations introduced by various participants, and the numerous hurdles affecting the growth of the market have been discussed at length in the publication.
There is a dedicated section on the key soldier modernization programs in various regions and countries for the period 2017 to 2027. This section entails a description of the many programs, the units, delivery period, and overall expenditure, the key companies involved, major services and products on offer, and recent contracts and alliances in the field. A review of the competitive landscape also sheds light on the net profit of major companies, their revenue, and their operating profit.
The study is designed to aid businessmen in formulating effective decisions based on accurate and detailed assessment of the overall soldier modernization market, the vendor landscape, and various solution providers. The in-depth trend evaluation provided in the report will help clients make strategic alliances and give them an understanding of where the market is headed over the current decade.
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