Market Size of Military Exoskeleton Industry
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 166.97 Million |
| Market Size (2029) | USD 315.62 Million |
| CAGR (2024 - 2029) | 13.58 % |
| Fastest Growing Market | North America |
| Largest Market | Europe |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Military Exoskeleton Market Analysis
The Military Exoskeleton Market size is estimated at USD 166.97 million in 2024, and is expected to reach USD 315.62 million by 2029, growing at a CAGR of 13.58% during the forecast period (2024-2029).
- 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 of 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.
