Over the years, several nations have allotted a significant volume of their GDPs for defense spending. Rising defense budgets is one of the major drivers for the defense agencies to procure and modernize the military arsenal.
In addition, technology is shaping how battles would be fought and borders would be shielded. Increasing adoption of progressive military concepts, technology, and methods in the traditional domains of sea, land, and air emphasize how combatants must modernize to reserve their battlefield worthiness. Contemporary warfare integrates armed forces with advanced munitions to enhance their lethality and survivability on the battlefield.
Further, the integration of advanced technologies is expected to offer a unique opportunity for efficiency enhancements, usability, safety, and cost savings. Advanced wearable technologies have proven to be significantly beneficial for soldiers. Wearable technologies have the ability to augment the sensing sensitivity, enable artificial intelligence (AI) based solutions, and augment reality (AR) and cognitive abilities. At strategic and operational levels, such technologies are expected to have a wider impact on war fields.
Check out the BIS Research Studies Covering the Military Technologies and Ammunitions:
- Advanced Rocket and Missile Propulsion Systems Market: The global advanced rocket and missile propulsion systems market report by BIS Research shows significant growth in the market. The advanced rocket and missile propulsion systems market is anticipated to grow at a CAGR of 9.65% based on market value during the forecast period 2020-2025. However, the demand for advanced rocket and missile propulsion systems by value is expected to grow due to the growing number of satellite launches and rising research and development activities to develop cost-efficient propulsion technologies. Additionally, the growing demand for missile and ballistic missile defense systems is propelling the demand for advanced rocket and missile propulsion systems.
- Global Military Ammunition Market: The global military ammunition market is a mature market that has been witnessing the production of an increased number of munitions over the years for various platforms in armed forces such as the navy, air force, and army. The outbreak of COVID-19 mildly affected the global military ammunition market in 2020 and 2021. The global military ammunition market is expected to witness substantial growth over the forecast period 2020-2025. The market is expected to witness a significant growth in the missile industry mainly due to the increasing procurement of missiles for enhancing the offensive and defensive strength of the armed forces. According to BIS Research analysis, the global military ammunition market generated $57.89 billion in 2019 and is estimated to grow at a CAGR of 5.40% during 2020-2025.
- Global Super Soldier Wearable Technology Market: The global super soldier wearable technology market is an emerging market that has been witnessing the production of an increased number of wearables over the years for various platforms in armed forces such as infantry, special forces, and air force. The market has experienced a major transformation in the innovation of wearable technology and has witnessed the development of different product types for military applications. The high demand for military wearables in emerging countries, such as Asia-Pacific, Middle East, and Africa, is expected to create opportunities for soldier wearable technology players across different end users such as infantry, special force, and air force.
- Global 3D & 4D Military Radars Market: The 3D and 4D military radars industry analysis by BIS Research projects the market to grow at a significant CAGR of 3.51% on the basis of value during the forecast period from 2020 to 2025. North America dominated the global 3D and 4D military radars market, with a share of 31.02% in 2019. The global 3D and 4D military radars market has gained widespread importance owing to the increase in transnational disputes like India-China, India-Pakistan, Iran-Iraq, Lebanon-Syria, and Iran-Saudi Arabia, which is one of the major driving forces for countries to either develop indigenous radar systems or procure them from other countries through foreign military sales (FMS) in order to strengthen the radar market growth.