Market Share of Soldier Modernization Industry
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.
Soldier Modernization Market Leaders
Thales Group
Elbit Systems Ltd
BAE Systems plc
L3Harris Technologies, Inc.
Leonardo S.p.A.
*Disclaimer: Major Players sorted in no particular order
