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According to a new market research study titled ‘Military Augmented Reality Market to 2025 – Global Analysis and Forecasts by Components, Product Types, and Functions. The global military augmented reality market is calculated to account for US$ 1,797.5 Mn by 2025 as compared to US$ 511.8 Mn in 2017, growing at a CAGR of 17.4% during the forecast period from 2018 to 2025. The report highlights the trends prevalent in the global military augmented reality market and the factors driving the market along with those that act as deterrents to its growth.
Rising Demand for Situational Awareness Among Defense Forces Across the Globe is Fueling the Market for Military Augmented Reality Market
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The key players operating in the field of military augmented reality across the globe includes BAE Systems (United Kingdom), Google LLC (United States), Applied Research Association Inc. (United States), Osterhout Design Group (United States) and Six15 Technologies (United States).
The report segments the global military augmented reality market as follows: Global Military Augmented Reality Market – By Components: Lens, Display, Camera, Sensors, Memory & Processors/Controllers, Others.
Global Military Augmented Reality Market – By Product Types: Helmet Mounted Display (HMD), Heads-Up Display (HUD), Smart Glasses, Goggles.
Global Military Augmented Reality Market – By Functions: Night Vision, Situational Awareness, Navigation, Asset Management.
Global Military Augmented Reality Market – By Geography: North America: U.S., Canada, Mexico. Europe: France, Germany, Russia, U.K. Asia Pacific (APAC): China, India, Japan, South Korea. Middle East & Africa (MEA): Saudi Arabia, South Africa, UAE. South America (SAM): Brazil.
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The expansion of military augmented reality market is poised during the forecast period from 2018 to 2025, relating to various factors prevailing in the industry across the globe. The key factor fueling the market growth is the significant rise in demand for enhanced situational awareness technologies among the defense forces. This is due to the huge growth in terrorism and civil unrest activities across the globe. the augmented reality technology in battlefield facilitates the soldiers by projecting different imageries on the helmet mounted display or smart glass or goggles. These imageries contain various information such as the enemy location, friend location, civilian vehicle or enemy vehicle, position of the wearer and the translated texts of the enemy language among others. Moreover, the technology is equipped with night vision goggles, which reduces the weight of an extra night vision goggle (NVG), thus increasing the ease of maneuverability.
The augmented reality systems have numerous advantages in 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 procurement of augmented reality along with 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 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 majority of augmented reality systems are used for military training purpose; however, the benefits of the advanced technology are increasing the adoption rate among the defense forces to employ the dismounted soldiers with augmented reality in combat operations. The Advanced Information Technology of Naval Research Laboratory in collaboration with Columbia University is developing Battlefield Augmented Reality Systems (BARS) for armed forces during combat operation. The key aim of Battlefield Augmented Reality Systems (BARS) is to provide the armed forces in battleground with enhanced situational awareness and managing assets.
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