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(IT-NEWSWIRE.COM, April 25, 2018 ) Augmented Reality application in military is rapidly spreading in all three areas- ground, naval as well as military aircrafts, with rising demand of complex battlefields technology in order to enhance safety and effectiveness of war militants. Forward-looking soldier programs have been under research and development for years, experiencing various alterations over that time frame, with theories often utilizing augmented reality technologies delivered through different HMD devices.
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Initially, technologies such as night vision and navigation were the most essential technologies, however, significant increase in demand for enhanced situational awareness and rising need for hands free navigation in battlefield, thereby driving AR adoption in military. The AR market in military is further flourish in future due to the rising investments in augmented reality for combat operations.
In our study, we have segmented the military augmented reality market by components, product types and functions. The various components of military augmented reality includes lens, display, cameras, sensors, memory & processors/controllers and others. On basis of product types, the market for military augmented reality is segmented as helmet mounted display (HMD), heads-up display (HUD), smart glasses, and goggles.
The functions of military augmented reality considered in the research study includes night vision, situational awareness, navigation and asset management. Geographically, the market for military augmented reality is categorized into five strategic regions namely; North America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA) and South America (SAM)
The military augmented reality systems market is estimated to grow at a CAGR of 17.4% during the forecast period from 2018 to 2025. The market for military augmented reality is estimated to reach US$ 1,795.5 Mn by 2025. The global military augmented reality market is experiencing a steady growth in the current scenario and is anticipated to rise in the coming years.
The market for military augmented reality consists of well-established players across the globe, which invests huge amounts in order to deliver the most advanced technology to the military departments. Some of the major software companies is strengthening augmented reality market grip in military application. The augmented reality is expected to replace various tools and devices currently used by the forces, resulting in reduction in weight of equipment mounted on soldiers.
The new technology facilitates the soldiers by mapping their location and identifying friend or foe location. Hence, the increased demand for situational awareness, is a prominent driving factor bolstering the growth of augmented reality among the defense forces in a combat operation
North America in military augmented reality market is the most dominating region across the globe. North America includes countries namely; the United States, Canada and Mexico. The region shared the largest market share in 2017 and is anticipated to surge over the forecast period to generate a significant market share by the end of 2025. The region is also anticipated to exhibit maximum growth rate during the forecast period from 2018 to 2025.
The dominance over the market and the prime growth rate is attributed to the significant investments from the United States Department of Defense, in order to innovate and develop robust situational awareness systems for the dismounted troops on the battlefield. In addition, Canada and Mexico are the prime customers of advanced technologies of the United States, which procures enhanced system to modernize and strengthen their armed forces, air forces and naval forces.
This factor is also acting as a catalyzing factor for the military augmented reality in the North American region during the forecast period. Moreover, technological giants such as Honeywell International Inc., Google LLC are investing huge amounts and time in innovation, designing, developing, and testing of battlefield augmented reality.
Furthermore, various other players such as Six15 Technologies, Applied Research Associates Inc., and Osterhout Design Group also engaging themselves in manufacturing of technologically enriched augmented reality for the military troops on the battlefield in order to enhance their situational awareness and to offer the opportunity to navigate hands-free.
The major players operating in the field of military augmented reality includes BAE Systems, Applied Research Associates Inc., Google LLC, Osterhout Design Group and Six15 Technologies.
3 Key Takeaways 13
4 Market Landscape 15
4.1 Market Overview 15
4.2 Premium Insights 16
4.2.1 Tactical Augmented Reality Overview 16
4.3 Market Segmentation 17
4.4 Global Military Augmented Reality Market – By Components 18
4.5 Global Military Augmented Reality Market – By Product Types 19
4.6 Global Military Augmented Reality Market – By Functions 19
4.7 Global Military Augmented Reality Market – By Geography 19
4.8 PEST Analysis 20
4.8.1 North America PEST Analysis 20
4.8.2 Europe PEST Analysis 22
4.8.3 Asia Pacific PEST Analysis 24
4.8.4 Middle East & Africa PEST Analysis 26
4.8.5 South America PEST Analysis 28
5 Global Military Augmented Reality Market – Key Market Dynamics 30
5.1 Key Market Drivers 30
5.1.1 Increase in Demand for Enhanced Situational Awareness 30
5.1.2 Rising Need for Hands Free Navigation 30
5.2 Key Market Restraints 31
5.2.1 Vulnerable to Cyber Attacks 31
5.3 Key Market Opporunities 32
5.3.1 Rising Investments in Augmented Reality for Combat Operations 32
5.4 Future Trends 33
5.4.1 Technological Advancement is Anticipated to Influence the Growth of Combat Augmented Reality among the Defense Forces 33
5.5 Impact Analysis of Drivers and Restraints 34
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