What is the current Soldier Modernization Market size?

The Soldier Modernization Market is projected to register a CAGR of greater than 3% during the forecast period (2024-2029) Read More

Who are the key players in Soldier Modernization Market?

Thales Group, Elbit Systems Ltd, BAE Systems plc, L3Harris Technologies, Inc. and Leonardo S.p.A. are the major companies operating in the Soldier Modernization Market. Read More

Which is the fastest growing region in Soldier Modernization Market?

Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029). Read More

Which region has the biggest share in Soldier Modernization Market?

In 2024, the North America accounts for the largest market share in Soldier Modernization Market. Read More

What years does this Soldier Modernization Market cover?

The report covers the Soldier Modernization Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Soldier Modernization Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029. Read More

Soldier Modernization Market - Size, Growth & Trends

Soldier Modernization Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

The Report Covers Soldier Modernization Market Analysis and it is segmented by Type (Weapons and Ammunition, Personal Protection, Communication, Surveillance and Target Acquisition, Exoskeleton, Training and Simulation, and Other Types), and Geography (North America, Europe, Asia-Pacific, Latin America, Middle East and Africa). The Market Size and Forecasts Are Provided in Terms of Value (USD Million) for All the Above Segments.

Soldier Modernization Industry Overview

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 S.p.A. 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 on the frontline have a tactical advantage over their rivals. The 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. For instance, in December 2021, Thales launched the XTRAIM weapon sight that provides day/night de camouflage capabilities, which can be equipped with all light machine guns (Minimi) and shoulder-fired assault rifles (HK416). Such breakthrough technologies are expected to help the companies gain new contracts and increase their market presence.