Market Snapshot
| Study Period: | 2018-2027 |
| Base Year: | 2021 |
| Fastest Growing Market: | North America |
| Largest Market: | Europe |
| CAGR: | >15 % |
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Market Overview
The military exoskeleton market is expected to register a CAGR of over 15% during the forecast period (2022-2027).
Despite the impact of the COVID-19 pandemic on global economies, the market for military exoskeletons was negligibly impacted as the investments in emerging technologies remained unaffected.
Technological advancements in modern warfare are the major driving factors for the military exoskeleton market. Efforts are being made to further increase the efficiency of military exoskeletons through the incorporation of new technologies, which are expected to further propel the growth of the market in the years to come.
The focus on increasing the safety and efficiency of dismounted soldiers has led to the military investing in these technologies, as exoskeletons reduce the fatigue on soldiers while also giving them an extra layer of protection from the outside.
Despite all the advantages that exoskeletons offer, the main hindrance to their adoption is the high purchase costs involved. Efforts are now being made to further reduce the manufacturing costs of these exoskeletons.
Scope of the Report
An exoskeleton is an external frame worn to support the body, either to help a person overcome an injury or to enhance their biological capacities. It is powered by a system of electric motors, and the frame gives limbs extra movement, strength, and endurance. Exoskeletons are used in the military sector in various combat and non-combat roles. The military exoskeleton market is segmented into full-body exoskeleton and partial-body exoskeleton. The market is also segmented based on active exoskeleton and passive exoskeleton. Active exoskeletons are electrically powered and are used as an integrated power supply. They are used to enhance the activities of the personnel who wear them, while passive exoskeletons are simpler in structure and are mostly used to support the load on joints and bones. The report covers the market sizes and forecasts for the military exoskeleton market in major countries across different regions. For each segment, the market sizing and forecast have been represented by value (USD million).
| Type | |
| Full-body Exoskeleton | |
| Partial-body Exoskeleton |
| Power | |
| Active Exoskeleton | |
| Passive Exoskeleton |
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| Rest of the World |
Key Market Trends
The Active Exoskeleton Segment is Expected to Witness the Highest Growth During the Forecast Period
An active or powered exoskeleton is an electromechanical robotic device composed of electric motors, batteries, body structure, actuators, hydraulics, and joints, among others. Active robotic exoskeletons are utilized for improving efficiency by providing rehabilitation of stroke or spinal cord injury, improved strength, and endurance, thereby increasing the productivity of military people in high-risk areas. Currently, active robotic exoskeletons have limitations such as the inefficient source of power supply, high cost of designing the skeleton (body structure), the inefficiency of actuators, and lesser flexibility. Active robotic exoskeletons do not support much special movement, making it difficult to exactly match the body part motions. Also, most actuators utilized in powered robotic exoskeletons are standard hydraulic cylinders, which are precise and powerful but very heavy and expensive. Thus, there is a need for a lightweight and flexible actuator design. Many prominent players in the market have been involved in the launches and developments of new active or powered exoskeletons. For instance, Bionik Laboratories Corporation, Hocoma AG, Myomo Inc, and ATOUN Inc. launched and enhanced their products in the active wearable exoskeleton market in the recent past. Such robust investments in the development of active exoskeletons are anticipated to accelerate the growth of this segment during the forecast period.
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North America is Anticipated to Register the Highest CAGR During the Forecast Period
The North American region is anticipated to witness the highest growth in the military exoskeleton market due to the high purchasing capacity of the United States and the presence of many manufacturers in the country. The country is investing huge amounts in the research, development, and testing of exoskeletons. As of mid-2021, the US Army was testing out a pair of powered exoskeleton boots called the Dephy ExoBoot, which could soon allow soldiers to carry heavily loaded rucksacks with ease over long distances. Similarly, Lockheed Martin’s ONYX, a powered lower-body exoskeleton, has demonstrated its ability to increase mobility and reduce the fatigue of military personnel in the trials conducted by the US military. These exoskeletons are also expected to be inducted in large quantities during the forecast period. On the other hand, Canada has been heavily investing in its soldier modernization program, the Integrated Soldier System Project (ISSP). The project's focus has been to provide the best equipment and wearables to its soldiers for all kinds of warfare. Canadian soldiers used Trojan Ballistics Suit of Armour, which is believed to be the first ballistics exoskeleton body suit of armor. Such investments in the modernization of military equipment for dismounted soldiers are expected to drive the growth of the market in the coming years.
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Competitive Landscape
The military exoskeleton market is fragmented, with many global and regional players (OEMs, Tier 1 suppliers, and R&D centers) providing full-body and partial-body exoskeletons to the armed forces and government agencies. Some of the prominent players in the market are Lockheed Martin Corporation, SRI International, Sarcos Technology and Robotics Corporation, Aselsan AS, and Dephy Inc. To enhance their sales and geographical presence, the companies are partnering with regional defense manufacturers and governments. In this regard, in February 2021, Sarcos Robotics and the Paramount Group signed a Memorandum of Understanding (MoU) to expand Sarcos' sales of defense exoskeleton technology to government and industrial customers in the Middle-East and Africa. The companies are also investing robustly in new-generation, lightweight exoskeletons integrated with advanced sensors to enhance the overall situational awareness of dismounted soldiers. Such investments are expected to help the companies enhance their footprints in the market in the coming years.
Recent Developments
- In October 2021, Taiwan unveiled a locally made powered exoskeleton suit, which is a mechanized wearable system designed to be used in wartime or during post-disaster rescue and relief missions. According to the Taiwan military, the 10 kg lower-body exoskeleton, which is designed to boost the strength and endurance of its users, can move at 6 kph.
- In June 2021, the Defence Research and Development Organisation of India reported testing an active exoskeleton capable of assisting soldiers in carrying loads up to 100 kg with an operational time of up to 8 hours.
- In May 2021, the US Air Force Life Cycle Management Center (AFLCMC) and Air Mobility Command (AMC) and Arizona State University (ASU) announced their partnership for the development of Aerial Port Exoskeleton. The new exoskeleton equipment is designed to reduce the strain experienced by aerial porters when lifting various items while increasing safety. The Travis Air Force Base acts as the test base for the new exoskeleton equipment.
Table of Contents
1. INTRODUCTION
1.1 Study Assumptions
1.2 Scope of the Study
1.3 Currency Conversion Rates for USD
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
3.1 Market Size and Forecast, Global, 2018 - 2027
3.2 Market Share by Type, 2021
3.3 Market Share by Power, 2021
3.4 Market Share by Geography, 2021
3.5 Structure of the Market and Key Participants
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.3 Market Restraints
4.4 Porter's Five Forces Analysis
4.4.1 Bargaining Power of Buyers/Consumers
4.4.2 Bargaining Power of Suppliers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION (Market Size and Forecast by Value - USD million, 2018 - 2027)
5.1 Type
5.1.1 Full-body Exoskeleton
5.1.2 Partial-body Exoskeleton
5.2 Power
5.2.1 Active Exoskeleton
5.2.2 Passive Exoskeleton
5.3 Geography
5.3.1 North America
5.3.1.1 United States
5.3.1.2 Canada
5.3.2 Europe
5.3.2.1 Germany
5.3.2.2 United Kingdom
5.3.2.3 Russia
5.3.2.4 Spain
5.3.2.5 Rest of Europe
5.3.3 Asia-Pacific
5.3.3.1 China
5.3.3.2 Japan
5.3.3.3 South Korea
5.3.3.4 Rest of Asia-Pacific
5.3.4 Rest of the World
6. COMPETITIVE LANDSCAPE
6.1 Vendor Market Share
6.2 Company Profiles
6.2.1 Lockheed Martin Corporation
6.2.2 Sarcos Technology and Robotics Corporation
6.2.3 Rostec
6.2.4 Safran SA
6.2.5 BAE Systems PLC
6.2.6 Dephy Inc.
6.2.7 Aselsan AS
6.2.8 Bionic Power Inc.
6.2.9 Mawashi Science & Technology
6.2.10 SRI International
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
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Frequently Asked Questions
What is the study period of this market?
The Military Exoskeleton Market market is studied from 2018 - 2027.
What is the growth rate of Military Exoskeleton Market?
The Military Exoskeleton Market is growing at a CAGR of >15% over the next 5 years.
Which region has highest growth rate in Military Exoskeleton Market?
North America is growing at the highest CAGR over 2021- 2026.
Which region has largest share in Military Exoskeleton Market?
Europe holds highest share in 2021.
Who are the key players in Military Exoskeleton Market?
Lockheed Martin Corporation, SRI International, Sarcos Technology and Robotics Corporation, Aselsan AS, Dephy Inc. are the major companies operating in Military Exoskeleton Market.
