Technavio, a tech-focused market research firm, has published a new report on the global military load carriage systems market, which is expected to experience steady growth with a CAGR of more than 3% during the forecast period.
This latest report by Technavio covers the market outlook and growth prospects of the global military load carriage systems market for 2016-2020, considering 2015 as the base year. In addition, an overview of the market, key leading countries, vendor landscape, and a detailed analysis of the top vendors operating in this market are covered in the report.
Based on geographical division, Technavio market researchers segment the global military load carriage systems market into the following key regions: The Americas, EMEA, and APAC.
Geographical segmentation of the global military load carriage market for 2015 (market share %)
|
Americas |
36.65% |
|
EMEA |
35.34% |
|
APAC |
28.01% |
Source: Technavio
The Americas: largest revenue generating region for military load carriage systems
During 205, the Americas accounted for almost 37% of overall revenue generated in the global market for military load carriage systems. The market is flourishing in this region primarily owing to the high demand for military load carriage systems from North America. North America leads the pack with respect to military expenditure and technological advancements. The US is one of the major countries, which supports the UN in peacekeeping missions.
According to Abhay Kumar Singh, a lead analyst at Technavio, specializing in research on defense, “The US Army has been deploying their armed troops in vulnerable regions such as Cyprus, Iraq, Libya, Nigeria, Somalia, Syria, and Vietnam since the early 1970s to ensure the prevention of any attacks. US Army soldiers are being equipped with backpacks and load carriage systems for immediate action in case of emergency situations in response to the increasing extremist activities by the Islamic State (IS) since 2014. The US Army’s increase involvement in UN peacekeeping missions is the primary mode of revenue generation in the military load carriage systems in the Americas.”
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Military load carriage systems market in EMEA
The security situation on many fronts is pretty severe in Europe at present. The economic and political crisis in European countries such as Portugal, Greece, Ireland, Cyprus, and Ukraine, and violence in the Middle East and North African countries present several challenges for the militaries. Furthermore, the growing influx of illegal immigration from countries such as Syria, Iraq, and Libya into the European countries is contributing to the escalation of the risk of internal insurgency and extremist attacks.
The UN is launching several peacekeeping missions in the Middle East in collaboration with many European countries to keep the situation under control. Such initiatives are propelling the demand for military load carriage systems in markets across several European countries. The military load carriage systems market in EMEA is anticipated to register growth at a CAGR of more than 4% during the forecast period.
Military load carriage systems market in APAC
Recent extremist and insurgent threats, as well as territorial disputes in Asia, is resulting in the deployment of large battalions to various regions across the India-Pakistan border and India-China border along the Himalayas to counter the rise in cross-border activities. To ensure adequate combat capabilities, communication, and efficiency among the armed troops and their operations, they are being equipped with load carriage systems. Furthermore, the changing nature of conventional and urban warfare is prompting many APAC countries to work on the development of mission-specific load carriage systems for their armed forces. By 2020, the military load carriage systems market in APAC is expected to grow at a CAGR of almost 4%.
The top leading vendors operating in the global military load carriage systems market are:
- Aegis Engineering
- BAE Systems
- Boston Dynamics
- CQC
- Lockheed Martin
Other prominent vendors in the market include ADS, Australian Defence Apparel, Honeywell, Pivotal Defense Solutions, and Sarkar Defence Solutions.
A more detailed analysis is available in the Technavio report titled, ‘Global Military Load Carriage Systems Market 2016-2020’. Technavio also customizes reports by other regions and specific segments upon request.
Other related reports:
- Global Military Infrastructure and Logistics Market 2016-2020
- Global Military Mobile Computing Systems Market 2016-2020
- Global Military Support Vehicles Market 2015-2019
- Global Military Electro-optical and Infrared Systems Market 2015-2019
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