The military augmented reality market is estimated to account for US$ 1,797.5 Mn by the end of 2025, escalating at a CAGR of 17.4% during the forecast period from 2018 to 2025, from US$ 511.8 Mn in 2017. The growth of military augmented reality market is heavily driven by the significant increase in demand for situational awareness technologies among the defense forces across the globe and the need for hands-free navigation capabilities.
The augmented reality systems have numerous advantages on the battlefield, providing the wearer with vital information related to their surroundings, locating positions, and identifying friend or foe among others, thus saving lives.
Attributing to these advantages, the defense forces in the developed countries are investing substantial amounts in the procurement of augmented reality along with the development of advanced technology in the field. Moreover, the developing countries such as Mexico, India, Japan, Saudi Arabia, UAE and Brazil among others are also financing considerable amounts in the procurement of advanced technologies including augmented reality systems for combat operations. The U.S Department of Defense is heavily investing in augmented reality systems in order to equip the armed forces with an opportunity to navigate without any hand-held GPS locator, allowing the soldier to look in one direction while simultaneously viewing the weapons point of view. The Advanced Information Technology of Naval Research Laboratory in collaboration with Columbia University is developing Battlefield Augmented Reality Systems (BARS) for armed forces during a combat operation. The key aim of BARS is to provide the armed forces in a battleground with enhanced situational awareness and managing assets.
In 2017, North America led the market for military augmented reality, capturing almost 70% of the entire military augmented reality. The major factor boosting the market for augmented reality in North America is the significant investments from the United States Department of Defense in innovation, development, and manufacturing of robust technologies for its armed forces and international allies. The investments from the US is fueling the market for military augmented reality in the North America region. Moreover, Canada and Mexico, on the other hand, exhibits fair procurement strategies for various defense products, leading the region to grow over the years.
The technological giants and emerging companies in the United States such as Google, Honeywell International Inc., Applied Research Associates Inc., Six15 Technologies, and Oosterhout Design Group, among others, are investing substantial time and amounts for developing battlefield augmented reality in order to provide the soldiers with enhanced situational awareness and an opportunity to maneuver without carrying any hand-held GPS locator or night vision goggles. The United States Department of Defense works closely with these companies in order to design and manufacture products and technologies as per the requirements of the army, to strengthen the armed forces operating in a battlefield. Attributing to the above-mentioned factors, North American region is anticipated to exhibit prime growth rate over the forecast period from 2018 to 2025.
The market for military augmented reality consists of well-established companies as well as emerging companies namely; BAE Systems (United Kingdom), Google LLC (United States), Applied Research Association Inc. (United States), Oosterhout Design Group (United States) and Six15 Technologies (United States).
Browse Full Report: Global Military Augmented Reality (AR) Market and Forecast 2025
Apply for Customized Research Report – https://www.aarkstore.com/custom-research.php
Category: Technology Market Research Reports
For more inquiry contact our sales team at email@example.com