The global Military Exoskeleton Market (군용 외골격 시장) stands at US$ 1.1 billion in 2023. Sales of military exoskeletons are projected to grow at a robust CAGR of 14.5% from 2023 to 2033. This growth is driven by the increasing adoption of exoskeletons in the healthcare sector and rising investments in advanced military exoskeleton technology, creating opportunities for market players.
The introduction of various types of soft actuators in military exoskeletons is positively transforming the market. Additionally, the growing adoption of diverse human augmentation equipment in both military and industrial sectors is paving the way for military exoskeleton suppliers to enhance their profits. Exoskeletons are popular external frames that are worn to offer support to the human body. They are used to enhance an individual’s biological capabilities or to assist a person overcome injuries. Military exoskeletons are powered by electric motors, and their frame offers endurance, strength, and mobility to limbs. They are used in the military for multiple combat as well as non-combat roles.
Want Full Report? Enquire Here-https://www.factmr.com/report/military-exoskeleton-market
Key Takeaways from Market Study
The global military exoskeleton market is valued at US$ 1.1 billion in 2023, with worldwide demand expected to grow at a CAGR of 14.5% through 2033. This robust growth trajectory is anticipated to elevate the market to a valuation of US$ 4.27 billion by the end of 2033. In 2022, military exoskeletons designed for lower body parts constituted 42.8% of the global market revenue, highlighting the significant focus on enhancing soldier mobility and endurance. Additionally, sales of passive military exoskeletons are expected to increase rapidly, projected to grow at a CAGR of 16.4% from 2023 to 2033. This segment's growth is driven by the simplicity, reliability, and cost-effectiveness of passive systems compared to their active counterparts.
Moreover, the global demand for partial-body military exoskeletons is forecasted to accelerate at a CAGR of 17% through 2033, reflecting a growing trend towards specialized augmentation tailored to specific combat and support roles. The Asia Pacific region, particularly India and China, emerges as a prominent market for military exoskeletons, driven by significant investments in defense modernization and technological advancements. The increasing focus on enhancing soldier performance and reducing injury risk in these regions is expected to fuel market growth, presenting lucrative opportunities for suppliers and manufacturers in the military exoskeleton industry.
List of Key Companies Profiled in The Report
BAE Systems
Lockheed Martin Corporation
General Atomics
Raytheon Company
Bionic Power Inc.
Safran
Ekso Bionics
SpringActive
Revision Military
Others
Military Exoskeleton Market Growth
The growth trajectory of the military exoskeleton market is propelled by a combination of factors, including advancements in materials science, increased defense spending, and a growing emphasis on soldier welfare. The demand for lightweight, durable, and versatile exoskeleton systems is driving manufacturers to push the boundaries of innovation. The market growth is not limited to traditional military applications but extends to areas such as search and rescue operations, disaster response, and even rehabilitation.
As governments and defense organizations recognize the transformative impact of exoskeleton technology, collaborations between military entities and private-sector innovators are on the rise. This synergy is fostering an environment conducive to accelerated research, development, and deployment of military exoskeletons, contributing to the overall growth and maturation of the market.
Military Exoskeleton Market Opportunities
Amidst the challenges posed by evolving geopolitical landscapes and budget constraints, the military exoskeleton market presents unique opportunities for stakeholders. Manufacturers and developers can explore opportunities for collaboration with defense organizations, leveraging public-private partnerships to drive innovation and secure contracts for large-scale production.
Additionally, the civilian market offers avenues for diversification, with applications in industries such as healthcare, construction, and logistics. The adaptability of exoskeleton technology opens doors to a range of opportunities beyond the military sphere, creating a potential dual-use scenario that benefits both defense and civilian sectors.
Military Exoskeleton Market Notable Developments
The military exoskeleton market has witnessed notable developments that underscore its rapid evolution. Recent advancements include the integration of artificial intelligence for real-time adaptive control, enhancing the responsiveness and effectiveness of exoskeleton systems. Collaborations between defense contractors, technology firms, and research institutions have led to breakthroughs in energy-efficient designs and ergonomic solutions, addressing key challenges in prolonged use.
Competitive Landscape
On the global stage, businesses are strategically investing to achieve diverse objectives, including maintaining product standards, ensuring quality control, and strengthening supply chain management systems.
Manufacturers in the military exoskeleton sector are heavily investing in Research and Development (R&D) for innovative product advancements, aiming to expand their global presence. Strategic initiatives such as contractual agreements and product launches are key aspects of their approach.
An example of this is India's Defence Research and Development Organization (DRDO), which, in June 2021, successfully tested an active exoskeleton capable of assisting soldiers in carrying loads up to 100 kg for an operational time of 8 hours.
In the United States, the Air Force Life Cycle Management Center (AFLCMC), Arizona State University (ASU), and Air Mobility Command (AMC) joined forces to develop an Aerial Port Exoskeleton. This equipment is specifically designed to alleviate strain on aerial porters when lifting multiple items, enhancing safety and efficiency in their operations.