Market Size of Military Biometrics Industry
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 52.83 Billion |
| Market Size (2029) | USD 73.17 Billion |
| CAGR (2024 - 2029) | 6.73 % |
| Fastest Growing Market | North America |
| Largest Market | Asia Pacific |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Military Biometrics Market Analysis
The Military Biometrics Market size is estimated at USD 52.83 billion in 2024, and is expected to reach USD 73.17 billion by 2029, growing at a CAGR of 6.73% during the forecast period (2024-2029).
The military biometrics market witnessed unprecedented challenges due to the COVID-19 pandemic. The advent of the pandemic led to various governments worldwide initiating lockdowns as well as closing down of borders. It led to an effect on the logistics as well as the supply of various raw materials that are required for the production of biometric systems for the military. In addition, the decline in the orders from defense forces owing to a fall in the defense budget coupled with layoffs by various defense companies ultimately affected the production and development of advanced biometric technologies for the military.
The market showcased a strong recovery post-COVID due to the opening up of borders and removing lockdowns, thereby enabling key raw materials to reach the manufacturers. Also, various defense companies started increasing their investments in researching new technologies, and this is expected to lead to market growth in the future.
The global war on terrorism brought an increased focus on biometric technology as a security solution for identifying and tracking suspected terrorists. It may drive the growth of the biometrics market in the coming years. Technological advancements, such as the development of binocular-shaped biometric cameras for iris recognition, may prove to be opportunities for the military for quick individual identification. Advancements in computer and related technologies led to biometric recognition being a highly automated process that drives market growth in coming years.
