• 出版社/出版日：Mordor Intelligence / 2020年4月20日
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The soldier modernization market is projected to register a CAGR of more than 3% during the forecast period.
– The market studied is primarily driven by factors, such as the increased border conflicts, growth in terrorist and hostile groups, and the growing emphasis on increasing the defense expenditures.
– However, the slow progress in decision making at the government level has delayed many modernization programs in several developing countries over the years. The uncertainties, thus, created in terms of the program completion and associated timelines, are currently challenging the players in the market.
Key Market Trends
The Increasing Need to Improve the Soldier Effectiveness and Efficiency is Driving the Market
The changing battlefield scenarios are demanding the militaries to equip the soldiers with newer technologies that help them adapt to the changes. The soldier systems need to cater to five primary functional requirements, namely, lethality, survivability, command and control, sustainment, and mobility of the solider on the battlefield. In this regard, countries are investing in the research and development of advanced solider systems to enhance their effectiveness in the battlefield that helps them gain tactical advantage and decrease the overall troop casualties. The areas of interest range from lethality and protection to mobility, command and control (C2) technology, communication, support, and search and rescue systems across a wide-ranging cross-section of ground, airborne, and maritime environments. The US Army announced that it is investing USD 8.6 billion in modernization efforts in FY2020. In the upcoming five years, the country plans to invest as much as USD 57 billion into modernization programs, which is a 137% increase from the previous five-year plan. Thus, the growing need for soldier modernization is currently driving investments into the market.
Asia-Pacific is Projected to Exhibit the Highest Growth Rate in the Market
In terms of geography, Asia-Pacific is projected to register the highest CAGR during the forecast period. Countries in the Asia-Pacific region, such as China, India, and South Korea are some of the biggest defense spenders in the world. China’s indigenous technological and manufacturing capabilities give it a great edge in terms of innovation and the implementation of soldier modernization programs. The country has done both technical and organizational changes to modernize its army. The collaboration between the private and public sector has dramatically increased in the country in recent years, resulting in rapid growth in technology transfer and cost-effective R&D. China aims to build a technologically advanced, top-tier world-class force in the next thirty years. On the other hand, India, currently, has the largest ground force in the world, with approximately 1.4 million personnel at its disposal. The country is currently in the initial stages of building a leaner and technology-enabled modern force as envisioned in 2015. The Government of India plans to spend USD 130 billion during the forecast period to modernize its army, air force, and navy. This will include the procurement of infantry equipment, such as assault rifles and the deployment of various protection and C4ISR systems for the infantry. In March 2020, the Indian Ministry of Defence awarded a contract to the Israel Weapons Industries (IWI) to supply 16,479 modern, state-of-the-art, Negev 7.62X51 mm Light Machine Guns (LMGs) for USD 116.4 million. India has also recently procured 72,400 assault rifles and 93,895 carbines for modernizing its frontline troops under the Fast Track Procurement (FTP) route. Such developments are envisioned to further propel the region to dominate the market in the years to come.
The soldier modernization market is highly fragmented, with several players accounting for significant amounts of shares in the market. Some of the prominent companies in the soldier modernization market are Thales Group, Elbit Systems Ltd, BAE Systems PLC, L3Harris Technologies Inc., and Leonardo SpA. Several companies have formed long-term partnerships with the armed forces to upgrade and enhance the battlefield capabilities of infantry soldiers as well as for the development of future soldier modernization programs of the defense ministry. Companies are investing heavily in research and development for the innovation of new and advanced products and technologies that may help the soldiers in the frontline to have a tactical advantage over the rivals. Development of exoskeletons, versatile technology platforms in terms of connectivity, dual role weapon sights, and integration of VR technology for the training of soldiers are some of the innovations of the companies that received attention in recent times from various armed forces around the world. Such breakthrough technologies are expected to help the companies gain new contracts and increase their market presence.
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1.1 Study Assumptions
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Restraints
4.3 Porter’s Five Forces Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION
5.1.1 Weapons and Ammunition
5.1.2 Personal Protection
5.1.4 Surveillance and Target Acquisition
5.1.6 Training and Simulation
5.1.7 Other Types
5.2.1 North America
220.127.116.11 United States
18.104.22.168 United Kingdom
22.214.171.124 Rest of Europe
126.96.36.199 Rest of Asia-Pacific
5.2.4 Rest of the World
6 COMPETITIVE LANDSCAPE
6.1 Vendor Market Share
6.2 Company Profiles
6.2.1 BAE Systems PLC
6.2.2 Elbit Systems Ltd
6.2.3 Leonardo SpA
6.2.4 Thales Group
6.2.5 L3Harris Technologies Inc.
6.2.6 FLIR Systems Inc.
6.2.7 Ultra Electronics Holdings PLC
6.2.8 Rheinmetall AG
6.2.9 Safran SA
6.2.10 Saab AB
6.2.11 Northrop Grumman Corporation
6.2.12 Cobham PLC
7 MARKET OPPORTUNITIES AND FUTURE TRENDS