Market Size of Man Portable Military Electronics Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | > 4.50 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Man Portable Military Electronics Market Analysis
The man-portable military electronics market is expected to register a CAGR of over 4.5% during the forecast period (2022-2027).
The outbreak of COVID-19 and the subsequent shutdowns have affected the defense manufacturing sector in several countries. The negative impacts of the pandemic are clearly visible in the global defense supply chains, as several programs rely upon a unique global network of part suppliers. Though governments and defense companies have been trying their best to avoid disruptions by allowing industrial production to work, the increasing scale of the pandemic may affect the industry.
Growing territorial surveillance and increasing military spending by nations across the world have been enabling the respective armies to procure advanced man-portable military electronic systems for enhancing their land-based warfare capabilities. These trends are expected to help the market during the forecast period.
The emphasis on the modernization of soldiers has been growing in various countries. As a part of enhancing the soldier systems, the countries are collaborating with defense manufacturers to develop exoskeleton technologies. In addition to exoskeleton technologies, the armed forces are also testing military textiles that are embedded with advanced flexible integrated circuits and sensors for the transfer of data with command centers. Such advancements in micro-electronics technology are anticipated to provide growth opportunities for the market in the years to come.
