Global Military Wearable Sensors Market: COVID-19 Business Continuity Plan | Evolving Opportunities with Analog Devices Inc. and Arm Ltd.
LONDON–(BUSINESS WIRE)–Sep 8, 2020–
The global military wearable sensors market size is expected to grow by USD 147.29 million as per Technavio. This marks a significant market growth compared to the 2019 growth estimates due to the impact of the COVID-19 pandemic in the first half of 2020. Moreover, steady growth is expected to continue throughout the forecast period, and the market is expected to grow at a CAGR of 6%. Request Free Sample Report on COVID-19 Impacts
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Technavio has announced its latest market research report titled Global Military Wearable Sensors Market 2020-2024 (Graphic: Business Wire)
Read the 120-page report with TOC on “Military Wearable Sensors Market Analysis Report by Type (Device-based sensors and Clothing-based sensors) and Geography (North America, Europe, APAC, MEA, and South America), and the Segment Forecasts, 2020-2024”.
The market is driven by the increased spending on military modernization programs. In addition, the development of next-generation sensors is anticipated to boost the growth of the Military Wearable Sensors Market.
The increased spending on military modernization programs is expected to drive the military wearable sensors market growth. Modernization of the military is a complex process, as it includes fundamental changes in technological capacities to strengthen military capabilities and accomplish all strategic objectives. The modernization of the military focuses on several important areas, such as the control and command systems, wearable devices for the protection of troops, equipment and systems for the self-support of troops. Countries across the globe are investing in modernization programs by adopting military wearable sensors to strengthen their military capabilities. For instance, in May 2020, the US Army requested bids for a USD 25 million contract for wearable sensors to detect early symptoms of COVID-19. Such initiatives are also undertaken by the military to counter terrorism, which will increase the demand for military wearable sensors during the forecast period.
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Major Five Military Wearable Sensors Companies:
Analog Devices Inc.
Analog Devices Inc. has business operations under four segments: industrial, communications, automotive, and consumer. The company offers MEMS accelerometer for soldier-worn sensor.
Arm Ltd. operates its business through two segments: products and solutions. The company offers wearable devices and embedded systems for military and aerospace industry.
BAE Systems Plc
BAE Systems Plc has business operations under various segments: electronic systems, cyber & intelligence, platforms & services (US), air, and maritime. The company offers AR glasses, communication devices and other wearable devices for military and commercial customers
DuPont de Nemours Inc.
DuPont de Nemours Inc. operates its business through various segments: electronics & imaging, nutrition & biosciences, transportation & industrial, safety & construction, and non-core. The company offers ceramic hybrid sensor technologies for military applications.
Honeywell International Inc.
Honeywell International Inc. has business operations under various segments, such as aerospace, honeywell building technologies, performance materials and technologies, and safety and productivity solutions. The company offers BioHarness and wearable devices.
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Military Wearable Sensors Market Type Outlook (Revenue, USD mn, 2020-2024)
- Device-based sensors – size and forecast 2019-2024
- Clothing-based sensors – size and forecast 2019-2024
Military Wearable Sensors Market Regional Outlook (Revenue, USD mn, 2020-2024)
- North America – size and forecast 2019-2024
- Europe – size and forecast 2019-2024
- APAC – size and forecast 2019-2024
- MEA – size and forecast 2019-2024
- South America – size and forecast 2019-2024
Technavio’s sample reports are free of charge and contain multiple sections of the report, such as the market size and forecast, drivers, challenges, trends, and more.
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PUB: 09/08/2020 07:30 PM/DISC: 09/08/2020 07:30 PM