Visiongain Publishes Military Exoskeleton Market Report 2021-2031

30 January 2021
Defence

Visiongain has published a new report on Military Exoskeleton Market Report 2021-2031: By Component (Actuators, Motors, Hydraulics, Armor) By Type (Active Exoskeleton, Passive Exoskeleton) By Type (Full body Exoskeleton, Partial Exoskeleton) and Leading Regional/ Country market analysis.

Global Military Exoskeleton market is estimated to be valued at US$ xx billion in 2021 and is projected to grow at a CAGR of xx% to reach a market value of US$ xx billion by 2031. Military exoskeleton market is currently under R&D stage and is expected to be commercialized in the mid 2030s. Countries such as Russia, US, India, China and Japan are some of the major spending countries in the development of military exoskeletons across the globe. Russia and US are first to start the designing and development of military exoskeleton for armed personnel. However, the complexities in the design and number of subsystems involved in the development of exoskeletons are some of the major factors for the long development time period. However, Russia has made announcement that they have tested military exoskeleton in the combat missions but did not release any further details. According to USSCOM, Exoskeletons will enter to into actual production for the purpose of military applications in mid 2020s. With the production of exoskeletons, the overall load on the soldier will be reduced by 40% and enables several advantages such as better mobility, enhanced situational awareness, and speed. These are some of the main factors driving the investments on the development of military exoskeletons.

Armed forces across the globe are focusing mainly on the reducing the weight of combat load o soldiers which helps in better mobility, efficiency and agility of soldier in the battlefield. However, it is one of the major challenges faced by the companies producing body armor with the help of existing technologies and armor materials. Advancements in armor materials such as Ultra-High-Molecular-Weight Polyethylene (UHMWPE), Carbon Nanotubes, 3D woven fabrics, and Super-elastic granular materials are expected to provide several growth opportunities in this market over the forecast period.

COVID-19 Impact on Military Exoskeleton Market
Defense budgets of many countries are expected to fall significantly over the next three to four years due to the affect of COVID-19 on the global economies negatively. Majority of the countries are expected to reduce their defense budget in coming years. Countries are expected to prioritize their spending on the procurement of most necessary military equipment than research & development activities. As a result, it is expected that spending R&D activities related military exoskeletons is anticipated to decline in coming years till the economic stability is achieved.

Competitive Landscape
Exoskeletons market is very concentrated with very small number of players carrying out research & development activities in this sector. Some of the major ongoing development programs include Onyx (Lockheed Martin), Exo-boot (Dephy), XOS2 (Joint development program of Raytheon Technologies and Sarcos Robotics company), TALOS (USSOCOM), and Wyss Exosuit (Joint program by Wyss Institute and DARPA) among many others. Some of the company’s profiled in this report include Rostec, Lockheed Martin, Dephy, Raytheon, Sarcos Robotics, Ekso Bionics Holdings Inc, USSOCOM, Wyss Institute, Defense Advanced Research Projects Agency and Defence Science and Technology Organization. .

• In March 2019, United States Special Operations Command (USSOCOM) has awarded a contract to Sarcos Robotics for delivering the Full-Body, Autonomously Powered Robotic Exoskeleton suitable for military operations. Under this contract, the company will develop its Guardian™ XO® exoskeleton, which is capable of lifting 200 pounds of payload, walk at a speed of three miles per hour and capable of working for 8 hours with single charge.

Notes for Editors
If you are interested in a more detailed overview of this report, please send an e-mail to sara.peerun@visiongain.com or call her on +44 (0) 20 7549 9987.

About Visiongain
Visiongain is one of the fastest-growing and most innovative independent media companies in Europe. Based in London, UK, Visiongain produces a host of business-to-business reports focusing on the automotive, aviation, chemicals, cyber, defence, energy, food & drink, materials, packaging, pharmaceutical and utilities sectors.

Visiongain publishes reports produced by analysts who are qualified experts in their field. Visiongain has firmly established itself as the first port of call for the business professional who needs independent, high-quality, original material to rely and depend on.

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