Military Augmented Reality Market Size, Trends and Growth Prospects: Technological advancements, Innovative Trends Forecast To 2027
The global military augmented reality market accounted to US$ 511.8 Mn in 2017 and is expected to grow at a CAGR of 17.4% during the forecast period 2018 – 2025, to account to US$ 1,797.5 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. 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. Moreover, the traditional or hand-held GPS systems required location to be geo-registered for identifying the location, which makes the systems slower. The AR technology is much faster as the technology doesn’t require any geo-registration to locate the position of the soldier. This helps the bearer to move from one place to another with ease and hands free.
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Some of The Leading Players Global Market:
1. BAE Systems
2. Applied Research Associates, Inc.
3. Google LLC
4. Osterhout Design Group
5. Six15 Technologies
The growth of military augmented reality market is promising during the forecast period from 2018 to 2025, pertaining significant investments being made to innovate and design robust technologies for soldiers in battlefield. Moreover, continuous technological advancements in the field of augmented reality is anticipated to boost the market for the same in defense sector. The Communications-Electronics Research, Development and Engineering Centre (CERDEC) has recently developed and demonstrated advanced augmented reality for the dismounted soldiers in battlefield. This advancement in AR technology is expected to boost the wearer’s capability in understanding the surrounding. The product is known as Tactical Augmented Reality (T.A.R.), that incorporates helmet mounted eyepiece, a wirelessly connected computer system worn on the wrist, and a thermal sight on the weapon. The major advantage of Tactical Augmented Reality developed by CERDEC is that it allows the soldier to be hands free of GPS locator, as the technology is integrated into the computer system. Moreover, the single eyepiece offers the soldier with the opportunity to view the real world and simultaneously an overlay broadcast of the battlefield on the eyepiece
The global military augmented reality market has been segmented on basis of various parameters such as components, product types, functions and geography. Based on components, the market for military augmented reality is segmented as lens, display, cameras, sensors, memory & processor/controllers and others. The product type segment include helmet mounted display (HMD), heads-up display (HUD), smart glasses and goggles. The military augmented reality market is categorized on basis of functions as night vision, situational awareness, navigation and asset management. The market is further analyzed by categorizing the market on basis of five strategic regions across the globe as North America, Europe, Asia Pacific, Middle East and Africa, and South America. The research study on military augmented reality market also showcases the different companies across the globe operating in the field.
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