15 November 2019
Visiongain has published a new defence report entitled Military Augmented Reality (MAR) Technologies Market 2019-2029.
In essence, augmented reality (AR) is a technology based on superimposing computer-generated constructs or digital information onto a real-world scene. Today, AR is typically developed to enhance a user’s sight, but soon, it could easily be used to feed several senses, such as touch, smell, taste or balance.
The MAR Technologies industry is estimated to be worth USD 1.59 billion in 2019 and Visiongain expects it to witness a Compound Annual Growth Rate (CAGR) of 14.4 per cent over the next 10 years.
This growth can be attributed to the several advantages of using augmented reality technology in the defence sector. For example, AR systems can provide commanders with an inexpensive training platform; they are still relatively immature which means that there are plentiful opportunities for further development; there is a fervent fanbase for their use in military strategy and threat detection.
As a result of all these pluses, Visiongain anticipates that global investment and consolidation will be robust over the next decade. In recent years, the US Navy, Royal Australian Air Force and Ukraine’s armed forces have all either been acquiring or testing AR technology solutions for deployment in training or combat scenarios.
Leading companies such as BAE Systems, Collins Aerospace and Thales Group, among others, are active in this multi-billion-dollar industry.
The senior defence analyst said: "The Global Military MAR Technologies market is expected to generate sales of USD 1.59 billion in 2019.
"The defence sector has a history of leading the way when it comes to innovating augmented reality technologies. Germany was the first nation to utilise infrared-sensitive electronic cameras, for instance, and by the end of World War II, its forces had designed a system that could amplify existing light by about 1,000 times.
"Night vision is the oldest form of AR technology, but today, there are several other applications which are used on the battlefield. Examples include personalised augmentation devices for soldiers on the ground, radar- and microwave-absorbing fabrics and materials and, of course, head-up displays.
"And still, despite all these recent advancements in the area of augmented reality, the military continues to extend the boundaries of what is possible and lead the way on innovating new technologies for its improvement.
"This drive for further development and research is having a profound, positive effect on the market and is why Visiongain expects it to surpass the five-billion-dollar mark by 2029, achieving a total sales figure of USD 6.09 billion.
"Having said this, there are one or two threats to the future success of MAR technologies, which could slightly restrain the acceleration of the industry. The most challenging issues surround augmented reality’s security and notable deficiencies in accuracy, robustness and real-time performance."
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Visiongain is a leading business intelligence provider, publishing market reports for the automotive, aviation, chemicals, construction, cyber, defence, electronics, energy, food & drink, IT, maritime, materials, packaging, pharmaceutical, renewable energy, telecoms and utilities sectors.
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