Military Augmented Reality (MAR) Technologies market is projected to grow at a CAGR of 17.7% by 2034: Visiongain
Visiongain has published a new report entitled Military Augmented Reality (MAR) Technologies Market Report 2024-2034: Forecasts by Component (Hardware, Software), by Software (Augmented Reality (AR) Software Platforms, AR Content Management Systems, AR Development Kits and Tools), by Hardware (Head-Mounted Displays (HMDs), Smart Glasses, Augmented Reality (AR) Sensors and Cameras, Wearable Computing Devices), by Platform (Dismounted Soldier, Land Vehicle, Naval Vessel, Aircraft, Other), by Application (Tactical Decision Support, Training and Simulation, Situational Awareness, Maintenance and Repair, Navigation, Other) AND Regional and Leading National Market Analysis PLUS Analysis of Leading Companies AND COVID-19 Impact and Recovery Pattern Analysis.
The global military augmented reality (MAR) technologies market was valued at US$1,132.4 million in 2023 and is projected to grow at a CAGR of 17.7% during the forecast period 2024-2034.
Augmented Navigation Systems: Precision in Action
The precision and accuracy of navigation systems are significantly improved through augmented reality technologies. AR overlays on heads-up displays or smart glasses provide military personnel with enhanced navigation assistance, highlighting critical information such as waypoints, navigation points, and potential obstacles. Soldiers equipped with AR-enabled navigation systems experience more accurate and intuitive navigation, particularly in unfamiliar terrains. This precision in navigation contributes to the success of military missions, reducing the risk of getting lost and enabling seamless movement across diverse landscapes. AR technologies act as force multipliers, enhancing operational effectiveness through advanced navigation capabilities.
Soldier Health Monitoring: Vital Insights in Real Time
AR technologies contribute to soldier health monitoring by providing real-time data on physiological conditions. Smart AR wearables, integrated into helmets or uniforms, continuously monitor vital signs such as heart rate, body temperature, and fatigue levels. For instance, AR-enabled smart helmets can track and analyze a soldier’s health metrics, providing alerts in case of anomalies. This proactive health monitoring ensures the well-being of soldiers during missions, allowing for timely interventions and preventing potential health issues. AR-based health monitoring systems contribute to the overall readiness and effectiveness of military personnel in the field.
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How has COVID-19 had a significant negative impact on the Military Augmented Reality (MAR) Technologies Market?
The pandemic disrupted global supply chains, affecting the production and delivery of MAR technology components. Many MAR technology providers faced delays and shortages in critical components, leading to production slowdowns and increased costs. These disruptions hampered the timely delivery of MAR systems to military organizations, impacting project timelines and contractual obligations.
The pandemic imposed operational challenges on military forces worldwide. Lockdowns, travel restrictions, and social distancing measures limited the ability to conduct traditional training exercises and on-site maintenance. In response, there was a growing need for remote training and support solutions enabled by MAR technologies. This created new opportunities for MAR providers to offer remote training and maintenance services, addressing immediate military needs.
How will this Report Benefit you?
Visiongain’s 430-page report provides 134 tables and 206 charts/graphs. Our new study is suitable for anyone requiring commercial, in-depth analyses for the global military augmented reality (MAR) technologies market, along with detailed segment analysis in the market. Our new study will help you evaluate the overall global and regional market for Military Augmented Reality (MAR) Technologies. Get financial analysis of the overall market and different segments including component, software, hardware, platform, and application and capture higher market share. We believe that there are strong opportunities in this fast-growing military augmented reality (MAR) technologies market. See how to use the existing and upcoming opportunities in this market to gain revenue benefits in the near future. Moreover, the report will help you to improve your strategic decision-making, allowing you to frame growth strategies, reinforce the analysis of other market players, and maximise the productivity of the company.
What are the Current Market Drivers?
Rising Research and Development in this Domain to Open Up New Avenues
The increasing focus on research and development (R&D) activities in the field of military augmented reality is poised to unlock new avenues for market growth. Governments, defence contractors, and technology firms are investing heavily in R&D to push the boundaries of what MAR technologies can achieve. These efforts encompass the development of more sophisticated hardware, software platforms, and content management systems tailored to the unique needs of the military. Additionally, substantial R&D is directed towards creating specialized MAR applications for various military domains, including tactical decision support, training and simulation, and maintenance and repair. As a result of these investments, we can anticipate the emergence of innovative MAR solutions that offer enhanced performance, reliability, and security, thus expanding the market’s potential.
Growing Government Spending on the Military is Driving the Market Growth
Government spending on the military has been a primary driver of market growth in the defence and security sector. With geopolitical tensions and security concerns persisting around the world, many nations have increased their defence budgets to ensure national security and strategic deterrence. This heightened military spending has created a conducive environment for the development and adoption of advanced technologies, including military augmented reality (MAR) systems. As governments allocate larger portions of their budgets to defence, they are increasingly investing in MAR technology to equip their armed forces with cutting-edge tools for training, situational awareness, and operational efficiency. The result has been a significant boost in demand for MAR hardware and software solutions, propelling market growth.
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Where are the Market Opportunities?
The Scope for Software Innovation in Military Augmented Reality (MAR) Technologies
There is a significant scope for software innovation in military computers, particularly in the context of MAR technologies. As MAR systems become more integrated into military operations, software plays a pivotal role in enhancing functionality and effectiveness. Innovations in software can lead to more immersive training simulations, better situational awareness applications, and advanced decision support tools for military personnel. These innovations can be tailored to meet specific military needs, whether it’s for navigation assistance, maintenance and repair guidance, or real-time intelligence analysis.
Real-Time Military Training with MAR Technologies
Real-time military training with MAR technologies offers a cost-effective alternative to traditional training methods, such as live exercises and field simulations. These conventional training approaches can be expensive due to the need for physical equipment, personnel, and logistical support. MAR technology allows for virtual training scenarios that significantly reduce costs related to travel, equipment maintenance, and resource allocation. This cost-efficiency presents a significant opportunity for military organizations to maximize their training budgets while maintaining high-quality, immersive training experiences.
The major players operating in the military augmented reality (MAR) technologies market are Atheer Inc., BAE Systems PLC, Collins Aerospace, Elbit Systems Ltd, Intel Corporation, Lenovo Group Limited, Lockheed Martin Corporation, Magic Leap, Inc., Microsoft Corporation, Qualcomm Incorporated, RealWear, Inc., Sony Group Corporation, Thales Group, Trimble Inc., Vuzix Corporation, . These major players operating in this market have adopted various strategies comprising M&A, investment in R&D, collaborations, partnerships, regional business expansion, and new product launch.
- 20 Sept 2023, BAE Systems launched its new AR Display, a wearable augmented reality (AR) display that provides users with real-time information about their surroundings. The AR Display is designed to be used by soldiers and other military personnel to improve their situational awareness and decision-making.
- 01 April 2023, Microsoft was awarded a $21.9 billion contract from the US Army to provide IVAS headsets and support services. This contract is a major win for Microsoft and a validation of its MAR Technologies capabilities.
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To find more Visiongain research reports on the defence sector, click on the following links:
- Military Communications & COTS Market Report 2023-2033
- C4ISR Market Report 2023-2033
- Military Electro-Optical and Infrared (EO/IR) Systems Market Report 2022-2032
- Military ADS-B Receiver Market Report 2022-2032
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