Home » Aerospace & defense » North America Soldier Modernization Market

North America Soldier Modernization Market By System (Weapon Systems, Communication Systems, Protection Systems, Power Systems, Others); By Platform (Airborne, Naval, Land); By Geography – Growth, Share, Opportunities & Competitive Analysis, 2024 – 2032

Summary
Table Of Content

REPORT ATTRIBUTE	DETAILS
Historical Period	2019-2022
Base Year	2023
Forecast Period	2024-2032
North America Soldier Modernization Market Size 2024	USD 537.70 million
North America Soldier Modernization Market, CAGR	5.92%
North America Soldier Modernization Market Size 2032	USD 852.05 million

Market Overview

The North America Soldier Modernization market is expected to grow from USD 537.70 million in 2024 to USD 852.05 million by 2032, at a CAGR of 5.92%.

The North America Soldier Modernization market is driven by increasing defense budgets and the growing need for enhanced soldier safety and operational efficiency. Governments are prioritizing the integration of advanced technologies, such as wearable systems, augmented reality, and improved communication tools, to ensure military personnel have access to real-time data, better protection, and superior performance on the battlefield. Additionally, the rising adoption of autonomous systems and advanced weaponry is propelling the market forward. Trends indicate a shift towards multi-functional, lightweight, and energy-efficient equipment, designed to improve soldier endurance and operational readiness. The focus on upgrading legacy systems and replacing outdated equipment with next-generation solutions is fueling market growth. Furthermore, ongoing investments in research and development for developing cutting-edge technologies like exoskeletons and cyber defense capabilities are expected to further accelerate the modernization efforts, ensuring that North American forces maintain a technological edge.

The North America Soldier Modernization market is primarily driven by advancements in the U.S., Canada, and Mexico, with the U.S. leading the charge due to its robust defense budget and ongoing military modernization programs. The region focuses on integrating cutting-edge technologies such as wearable devices, advanced weapon systems, and communication solutions to enhance soldier efficiency, safety, and operational capabilities. Key players in the market include BAE Systems, Lockheed Martin Corporation, Raytheon Technologies Corporation, Northrop Grumman Corporation, General Dynamics Corporation, L3Harris Technologies, Boeing Defense, Space & Security, and Oshkosh Defense, among others. These companies play a pivotal role in developing and supplying innovative solutions tailored to the unique needs of military forces across North America. The ongoing collaboration between the U.S. and Canada, along with growing defense investments in Mexico, positions the region for sustained growth in soldier modernization efforts.

Access crucial information at unmatched prices!

Request your sample report today & start making informed decisions powered by Credence Research!

Download Sample

Market Insights

The North America Soldier Modernization market is projected to grow from USD 537.70 million in 2024 to USD 852.05 million by 2032, at a CAGR of 5.92%.
Increasing defense budgets in the U.S. and Canada are driving the demand for advanced soldier systems.
Rising focus on soldier safety and operational efficiency is pushing the adoption of wearable devices and autonomous systems.
Communication systems and protection technologies are key growth areas, with innovations in real-time data sharing and enhanced safety solutions.
The market is highly competitive, with major players including BAE Systems, Lockheed Martin, and Raytheon Technologies leading the development of cutting-edge soldier modernization technologies.
Budget constraints and high development costs remain significant challenges, impacting the pace of implementation.
The U.S. dominates the market, followed by Canada, while Mexico shows potential for gradual growth as security needs evolve.

Market Drivers

Increasing Defense Budgets

One of the primary drivers of the North America Soldier Modernization market is the significant increase in defense spending. As global security threats evolve, governments are allocating larger portions of their budgets to enhance military capabilities. For instance, the U.S. Department of Defense’s budget for 2024 includes a record $145 billion for research and development to maintain technological superiority. The U.S. and Canada, in particular, are investing heavily in modernizing their armed forces to maintain superior technological advantages. This surge in defense budgets directly supports the procurement of advanced soldier modernization systems, ranging from communication technologies to protective gear, fostering market growth.

Advancements in Technology

Rapid technological advancements are another key driver behind soldier modernization efforts. Innovations in areas such as wearable technologies, augmented reality (AR), and unmanned systems are being integrated into soldier gear. For instance, the U.S. Army has dramatically increased its budget for robotics, reflecting the growing emphasis on AI and autonomous systems. These advancements provide soldiers with real-time data, improve situational awareness, and enhance overall mission effectiveness. The development of lightweight, energy-efficient systems has made it possible to equip soldiers with cutting-edge tools without compromising mobility or endurance, further driving the demand for modernization solutions in the defense sector.

Enhanced Soldier Safety and Performance

The growing emphasis on enhancing soldier safety and operational performance is a major factor fueling the market. Modernization efforts focus on providing soldiers with better protection through advanced body armor, health monitoring systems, and improved communication devices. These technologies help reduce risks on the battlefield by providing soldiers with critical information, enabling quicker decision-making and faster response times. By ensuring that soldiers are more protected and capable, defense agencies are fostering increased adoption of soldier modernization systems.

Geopolitical Instability and Evolving Threats

Geopolitical instability and the rise of non-traditional security threats are pushing nations to modernize their armed forces. The need to counter cyber warfare, terrorism, and unconventional threats requires enhanced soldier capabilities. For instance, the U.S. Government Accountability Office (GAO) has identified emerging threats such as cyber warfare and terrorism as key drivers for military modernization. North America is focusing on upgrading its forces with modern equipment that enables better adaptability in diverse combat scenarios. This focus on future-proofing the military through soldier modernization systems is driving both investment and innovation in the sector.

Market Trends

Integration of Wearable Technologies

A prominent trend in the North America Soldier Modernization market is the integration of wearable technologies into soldier gear. These systems, including smart helmets, body sensors, and exoskeletons, are designed to enhance a soldier’s situational awareness and physical capabilities. For instance, the U.S. Department of Homeland Security has funded the development of wearable solutions to mitigate heat-related injuries, equipped with advanced sensors to monitor core body temperature and issue real-time alerts. Wearable devices provide soldiers with real-time data on their environment, health status, and mission progress. This technology allows for greater operational efficiency and improved decision-making, pushing the trend towards smarter, more connected soldiers. The ongoing development and adoption of these technologies are a major driver of market growth.

Adoption of Augmented Reality (AR) Systems

Augmented reality (AR) is rapidly becoming a key trend in soldier modernization. AR systems, such as heads-up displays and integrated optical technologies, are being employed to provide soldiers with an enhanced view of their surroundings. These systems offer critical mission data, visualizations of threats, and tactical maps directly in the soldier’s field of vision. This helps improve situational awareness, reduce reaction times, and support decision-making in complex environments. The increasing reliance on AR is driving demand for advanced soldier modernization solutions across North America.

Focus on Autonomous Systems

Another trend shaping the North America Soldier Modernization market is the focus on autonomous systems. These systems, including drones and robotic ground vehicles, are being integrated into military operations to assist soldiers in reconnaissance, logistics, and combat situations. By automating certain tasks, these systems reduce the physical burden on soldiers, improve operational efficiency, and enhance mission success rates. The increasing integration of autonomous technologies into soldier operations aligns with efforts to modernize and optimize military forces, making it a critical trend within the market.

Enhanced Mobility and Energy Efficiency

A key trend in soldier modernization is the focus on enhancing mobility and energy efficiency. Advanced materials and lightweight, durable technologies are being incorporated into soldier gear to reduce weight without sacrificing strength or functionality. This shift toward more energy-efficient systems allows soldiers to carry less equipment while maintaining optimal performance. The development of next-generation power sources, such as portable energy solutions and battery advancements, is further driving this trend, ensuring that soldiers can remain operational for extended periods in challenging environments.

Market Challenges Analysis

High Costs of Development and Procurement

One of the primary challenges in the North America Soldier Modernization market is the high costs associated with developing and procuring advanced technologies. The integration of cutting-edge systems such as wearable devices, augmented reality, and autonomous platforms requires significant investment in research, development, and production. For instance, the U.S. Department of Defense has reported that the development of the Integrated Visual Augmentation System (IVAS) has faced budget overruns and delays due to the complexity and cost of integrating advanced AR technologies. These costs often lead to delays in procurement and budget constraints, limiting the speed at which modernization programs can be fully implemented. Additionally, maintaining and upgrading existing systems can further strain military budgets, creating financial pressures that may slow the adoption of newer technologies. This challenge requires defense agencies to balance modernization needs with financial constraints while ensuring that the technologies are both effective and sustainable.

Integration and Interoperability Issues

Another key challenge facing the soldier modernization efforts is the difficulty in ensuring interoperability and seamless integration of various systems. As military forces adopt a wide array of advanced technologies, from communication devices to robotic systems, ensuring that all components work together efficiently remains a complex task. The lack of standardization among different technologies can result in compatibility issues, leading to operational inefficiencies and potential system failures. Moreover, integrating new technologies with legacy systems may create additional challenges, slowing down the pace of modernization. Overcoming these integration and interoperability issues is essential to maximizing the potential benefits of soldier modernization initiatives, requiring careful planning and coordination across multiple military branches and technology providers.

Market Opportunities

Rising Demand for Advanced Soldier Systems

The North America Soldier Modernization market presents significant opportunities driven by the growing demand for advanced soldier systems. As defense agencies prioritize technological advancements to enhance soldier performance, the integration of cutting-edge solutions like wearable technologies, augmented reality (AR), and autonomous systems is becoming a top focus. These systems are increasingly being adopted to improve situational awareness, safety, and operational efficiency. The demand for advanced communication devices, body armor, and health monitoring systems presents a lucrative opportunity for manufacturers to develop innovative solutions that address the evolving needs of modern soldiers. As military agencies continue to invest in these systems, companies involved in developing and supplying these technologies stand to benefit from increased procurement and long-term partnerships.

Potential for International Collaborations and Expansions

Another key opportunity lies in the potential for international collaborations and market expansions. As North America continues to modernize its military forces, there is an opportunity for defense contractors and technology providers to expand their operations into global markets. Collaborations with allied nations to share and implement best practices for soldier modernization can enhance operational capabilities while increasing the reach of North American defense technology. Furthermore, strategic partnerships with defense organizations in other regions can provide access to new markets and open avenues for cross-border technology development and joint ventures. This global growth potential, combined with the increasing emphasis on soldier modernization worldwide, offers ample opportunities for businesses to strengthen their position in the global defense technology sector.

Market Segmentation Analysis:

By System:

The North America Soldier Modernization market can be segmented by system into five key categories: Weapon Systems, Communication Systems, Protection Systems, Power Systems, and Others. Weapon systems are a critical component, incorporating advanced firearms, ammunition, and precision-guided munitions designed to enhance operational effectiveness on the battlefield. Communication systems play a vital role in ensuring seamless connectivity between soldiers and command centers, enabling real-time data sharing and situational awareness. Protection systems, including body armor, helmets, and countermeasure technologies, are designed to increase soldier safety in combat environments. Power systems, such as portable energy solutions and advanced battery technologies, are increasingly vital for ensuring that soldiers can operate effectively for extended periods without compromising mobility. The “Others” category encompasses various supporting systems like health monitoring devices, medical kits, and environmental sensors, contributing to the holistic approach to soldier modernization. Each of these segments addresses specific needs to enhance soldier efficiency and safety, driving the overall market’s growth.

By Platform:

The market is also segmented based on platform, including Airborne, Naval, and Land platforms. The airborne segment focuses on soldier modernization in aviation and unmanned aerial systems (UAS), where soldiers require specialized systems for enhanced mobility, communication, and situational awareness in the sky. In the naval segment, modernization efforts include systems that support soldiers in maritime environments, such as wearable tech, communication upgrades, and protection systems designed for naval missions. The land platform segment represents the largest portion of the market, as modernization efforts primarily target ground-based soldiers, equipping them with advanced weaponry, communication systems, and personal protection gear for land-based operations. These platform-specific segments are essential for tailoring modernization technologies to the unique demands of each environment, ensuring that soldiers can effectively perform in diverse operational conditions.

Segments:

Based on System:

Weapon Systems
Communication Systems
Protection Systems
Power Systems
Others

Based on Platform:

Airborne
Naval
Land

Based on the Geography:

US.
Canada
Mexico

Regional Analysis

U.S.

The United States dominates the North America Soldier Modernization market, holding a market share of approximately 70%. This leadership is driven by the U.S. Department of Defense’s vast budget and its focus on enhancing military capabilities through technological advancements. With an ongoing commitment to soldier safety, mobility, and operational effectiveness, the U.S. has been at the forefront of adopting cutting-edge technologies such as wearable systems, advanced communication devices, and autonomous platforms. The U.S. government’s substantial investment in these areas ensures that its military remains technologically superior, maintaining a dominant share in the soldier modernization sector. The market in the U.S. is expected to continue its growth trajectory, driven by increased defense spending and the integration of next-generation solutions like augmented reality and exoskeletons.

Canada

Canada holds around 15% of the North America Soldier Modernization market. Although smaller in comparison to the U.S., Canada is increasingly investing in upgrading its military capabilities, focusing on soldier-specific systems such as enhanced communication networks, protection gear, and wearable health monitoring devices. The Canadian government has committed to expanding its defense budget and has prioritized military modernization as part of its national security strategy. The Canadian market’s growth is supported by close defense collaboration with the U.S., which facilitates access to advanced technologies and innovations in soldier modernization. As defense budgets rise and security concerns evolve, Canada’s market share is expected to grow steadily over the next several years.

Mexico

Mexico’s market share in the North America Soldier Modernization market is approximately 5%. While smaller than the U.S. and Canada, Mexico has been gradually increasing investments in defense modernization to address internal security challenges, particularly related to organized crime and drug cartels. Although the country has a smaller defense budget, there is a growing emphasis on upgrading soldier systems, such as communication tools, protective gear, and surveillance technology, in order to enhance the capabilities of the military and law enforcement. Mexico’s market share is anticipated to experience slow but steady growth as it continues to modernize its armed forces and enhance security operations.

Shape Your Report to Specific Countries or Regions & Enjoy 30% Off!

Customize Now

Key Player Analysis

BAE Systems
Lockheed Martin Corporation
Raytheon Technologies Corporation
Northrop Grumman Corporation
General Dynamics Corporation
L3Harris Technologies, Inc.
BAE Systems, Inc. (U.S. subsidiary of BAE Systems)
Boeing Defense, Space & Security
Textron Inc.
Honeywell International Inc.
Oshkosh Defense, LLC

Competitive Analysis

The North America Soldier Modernization market is highly competitive, with several key players driving technological advancements. Leading companies such as BAE Systems, Lockheed Martin Corporation, Raytheon Technologies Corporation, Northrop Grumman Corporation, General Dynamics Corporation, L3Harris Technologies, Boeing Defense, Space & Security, Textron Inc., Honeywell International Inc., and Oshkosh Defense, LLC dominate the sector. These companies are focused on developing innovative solutions to enhance soldier performance, safety, and efficiency. The competition centers around the development of advanced weapon systems, next-generation communication technologies, and protective gear designed to enhance soldiers’ capabilities on the battlefield. Additionally, there is an increasing emphasis on wearable technologies, autonomous systems, and real-time data sharing, which are becoming integral to soldier modernization efforts. The market is characterized by significant R&D investments and partnerships between companies and military organizations to create and deploy these advanced systems. Companies with strong R&D capabilities and specialized expertise are at a competitive advantage, as they can develop tailored solutions that meet the diverse needs of modern soldiers. For instance, Thales Group focuses on R&D investments to incorporate cutting-edge technologies like Artificial Intelligence (AI) into soldier systems. Furthermore, strategic collaborations and joint ventures play a critical role in expanding market share and enhancing product offerings. Despite the high competition, companies are well-positioned to benefit from growing defense budgets and increasing demand for soldier-specific technologies across North America. The competitive landscape is expected to remain dynamic as these companies continue to push the boundaries of innovation to meet evolving military requirements.

Recent Developments

In October 2024, General Dynamics was selected to continue development for the Next Generation Survival Radio (NGSR) for the U.S. Air Force, with plans to deliver prototypes by December 2025, emphasizing advanced communication capabilities for search and rescue operations.
In September 2024, Thales Defense & Security Inc. was awarded a contract for 2,705 additional AN/PRC-148F radios as part of the Army’s HMS tactical radio program, demonstrating ongoing confidence in Thales’ technology solutions for military communications.
In May 2024, Lockheed Martin received a $451 million contract from the U.S. Army to upgrade additional M270 systems, which includes overhauls with new engines and improved armored cabs. This contract aims to enhance the operational readiness and interoperability of these systems with NATO forces.
In April 2024, Raytheon secured a $344 million contract for the modernization of missile electronics units, specifically for the SM-2 Block IIICU and SM-6 variants. This upgrade enhances production efficiency and capability for both U.S. and allied forces.

Market Concentration & Characteristics

The North America Soldier Modernization market exhibits a moderate to high level of market concentration, with a few dominant players leading the development of advanced technologies. These key players have established strong positions due to their substantial investments in research and development, extensive product portfolios, and long-standing relationships with military organizations. While a few large defense contractors capture a significant share of the market, the sector also features a growing number of specialized companies that focus on specific technologies, such as wearable devices, communication systems, and protection gear. This combination of large industry leaders and niche players creates a competitive yet collaborative environment, with partnerships playing a crucial role in driving innovation.

The market is characterized by a high level of technological innovation and continuous evolution. Companies are constantly working to enhance the performance, mobility, and safety of soldiers by developing integrated systems that can operate seamlessly in diverse combat environments. Additionally, the market is influenced by significant defense budgets in the U.S. and Canada, which ensure a steady demand for modernization technologies. With increasing investments and advancements in areas such as autonomous systems, artificial intelligence, and real-time data sharing, the market is expected to experience sustained growth, attracting further competition and innovation from both established and emerging players.

Report Coverage

The research report offers an in-depth analysis based on System, Platform, and Geography. It details leading market players, providing an overview of their business, product offerings, investments, revenue streams, and key applications. Additionally, the report includes insights into the competitive environment, SWOT analysis, current market trends, as well as the primary drivers and constraints. Furthermore, it discusses various factors that have driven market expansion in recent years. The report also explores market dynamics, regulatory scenarios, and technological advancements that are shaping the industry. It assesses the impact of external factors and global economic changes on market growth. Lastly, it provides strategic recommendations for new entrants and established companies to navigate the complexities of the market.

Future Outlook

The North America Soldier Modernization market is expected to continue growing, driven by increasing defense budgets and demand for advanced technologies.
Wearable technologies, such as health-monitoring systems and exoskeletons, will become integral to soldier modernization efforts.
Communication systems will evolve to enable real-time data sharing and improved coordination among soldiers on the battlefield.
Protection systems will advance, focusing on enhancing soldier safety through better armor and defensive technologies.
Autonomous systems and drones will play a larger role in improving operational efficiency and providing soldiers with additional tactical advantages.
Integration of artificial intelligence will enable smarter decision-making and more effective mission planning.
The adoption of augmented reality and virtual reality systems will enhance training and simulation capabilities.
Collaboration between the U.S. and Canada will continue to drive joint defense initiatives and the sharing of advanced soldier modernization technologies.
The market will see increased investments in developing and upgrading soldier systems to counter emerging threats, such as cyber-attacks and hybrid warfare.
Smaller defense contractors specializing in niche technologies will see growth opportunities as demand for specialized solutions rises.

CHAPTER NO. 1: INTRODUCTION 20

1.1.1. Report Description 20

Purpose of the Report 20

USP & Key Offerings 20

1.1.2. Key Benefits for Stakeholders 20

1.1.3. Target Audience 21

1.1.4. Report Scope 21

CHAPTER NO. 2 : EXECUTIVE SUMMARY 22

2.1. Soldier Modernization Market Snapshot 22

2.1.1. North America Soldier Modernization Market, 2018 – 2032 (USD Million) 23

CHAPTER NO. 3 : GEOPOLITICAL CRISIS IMPACT ANALYSIS 24

3.1. Russia-Ukraine and Israel-Palestine War Impacts 24

CHAPTER NO. 4 : SOLDIER MODERNIZATION MARKET – INDUSTRY ANALYSIS 25

4.1. Introduction 25

4.2. Market Drivers 26

4.2.1. Rising adoption of advanced soldier technologies by military forces globally 26

4.2.2. Increasing geopolitical tensions and defense modernization initiatives 27

4.3. Market Restraints 28

4.3.1. High costs associated with advanced soldier modernization programs 28

4.4. Market Opportunities 29

4.4.1. Growing demand for AI and robotics in military applications 29

4.5. Porter’s Five Forces Analysis 30

4.6. Buying Criteria 31

CHAPTER NO. 5 : IMPORT EXPORT ANALYSIS 32

5.1. Import Analysis by North America 32

5.1.1. North America Soldier Modernization Market Import Volume/Revenue, By North America, 2018 – 2023 32

5.2. Export Analysis by North America 33

5.2.1. North America Soldier Modernization Market Export Volume/Revenue, By North America, 2018 – 2023 33

CHAPTER NO. 6 : DEMAND SUPPLY ANALYSIS 34

6.1. Demand Analysis by North America 34

6.1.1. North America Soldier Modernization Market Demand Volume/Revenue, By North America, 2018 – 2023 34

6.2. Supply Analysis by North America 35

6.2.1. North America Soldier Modernization Market Supply Volume/Revenue, By North America, 2018 – 2023 35

CHAPTER NO. 7 : PRODUCTION ANALYSIS 36

7.1. Production Analysis by North America 36

7.1.1. North America Soldier Modernization Market Production Volume/Revenue, By North America, 2018 – 2023 36

CHAPTER NO. 8 : PRICE ANALYSIS 37

8.1. Price Analysis by System 37

8.1.1. North America Soldier Modernization Market Price, By System, 2018 – 2023 37

8.1.2. North America System Market Price, By System, 2018 – 2023 37

CHAPTER NO. 9 : RAW MATERIALS ANALYSIS 38

9.1. Key Raw Materials and Suppliers 38

9.2. Key Raw Materials Price Trend 38

CHAPTER NO. 10 : MANUFACTURING COST ANALYSIS 39

10.1. Manufacturing Cost Analysis 39

10.2. Manufacturing Process 39

CHAPTER NO. 11 : ANALYSIS COMPETITIVE LANDSCAPE 40

11.1. Company Market Share Analysis – 2023 40

11.2. Value Chain Analysis 40

11.2.1. North America Soldier Modernization Market: Company Market Share, by Volume, 2023 41

11.2.2. North America Soldier Modernization Market: Company Market Share, by Revenue, 2023 42

11.2.3. North America Soldier Modernization Market: Top 6 Company Market Share, by Revenue, 2023 42

11.2.4. North America Soldier Modernization Market: Top 3 Company Market Share, by Revenue, 2023 43

11.3. North America Soldier Modernization Market Company Volume Market Share, 2023 44

11.4. North America Soldier Modernization Market Company Revenue Market Share, 2023 45

11.5. Company Assessment Metrics, 2023 45

11.5.1. Stars 45

11.5.2. Emerging Leaders 45

11.5.3. Pervasive Players 45

11.5.4. Participants 45

11.6. Start-ups /SMEs Assessment Metrics, 2023 45

11.6.1. Progressive Companies 45

11.6.2. Responsive Companies 46

11.6.3. Dynamic Companies 46

11.6.4. Starting Blocks 46

11.7. Strategic Developments 47

11.7.1. Acquisitions & Mergers 47

New Product Launch 47

North America Expansion 47

11.8. Key Players Product Matrix 48

CHAPTER NO. 12 : PESTEL & ADJACENT MARKET ANALYSIS 49

12.1. PESTEL 49

12.1.1. Political Factors 49

12.1.2. Economic Factors 49

12.1.3. Social Factors 49

12.1.4. Technological Factors 49

12.1.5. Environmental Factors 49

12.1.6. Legal Factors 49

12.2. Adjacent Market Analysis 49

CHAPTER NO. 13 : SOLDIER MODERNIZATION MARKET – BY SYSTEM SEGMENT ANALYSIS 50

13.1. Soldier Modernization Market Overview, by System Segment 50

13.1.1. Soldier Modernization Market Revenue Share, By System, 2023 & 2032 51

13.1.2. Soldier Modernization Market Attractiveness Analysis, By System 52

13.1.3. Incremental Revenue Growth Opportunity, by System, 2024 – 2032 52

13.1.4. Soldier Modernization Market Revenue, By System, 2018, 2023, 2027 & 2032 53

13.2. Weapon Systems 54

13.3. Communication Systems 55

13.4. Protection Systems 56

13.5. Power Systems 57

13.6. Others 58

CHAPTER NO. 14 : SOLDIER MODERNIZATION MARKET – BY PLATFORM SEGMENT ANALYSIS 59

14.1. Soldier Modernization Market Overview, by Platform Segment 59

14.1.1. Soldier Modernization Market Revenue Share, By Platform, 2023 & 2032 60

14.1.2. Soldier Modernization Market Attractiveness Analysis, By Platform 61

14.1.3. Incremental Revenue Growth Opportunity, by Platform, 2024 – 2032 61

14.1.4. Soldier Modernization Market Revenue, By Platform, 2018, 2023, 2027 & 2032 62

14.2. Airborne 63

14.3. Naval 64

14.4. Land 65

CHAPTER NO. 15 : SOLDIER MODERNIZATION MARKET – NORTH AMERICA ANALYSIS 66

15.1. System 66

15.1.1. North America Soldier Modernization Market Revenue, By System, 2018 – 2023 (USD Million) 66

15.2. North America Soldier Modernization Market Revenue, By System, 2024 – 2032 (USD Million) 66

15.3. Platform 67

15.3.1. North America Soldier Modernization Market Revenue, By Platform, 2018 – 2023 (USD Million) 67

15.3.2. North America Soldier Modernization Market Revenue, By Platform, 2024 – 2032 (USD Million) 67

CHAPTER NO. 16 : COMPANY PROFILES 68

16.1. BAE Systems 68

16.1.1. Company Overview 68

16.1.2. Product Portfolio 68

16.1.3. Swot Analysis 68

16.1.4. Business Strategy 69

16.1.5. Financial Overview 69

16.2. Lockheed Martin Corporation 70

16.3. Raytheon Technologies Corporation 70

16.4. Northrop Grumman Corporation 70

16.5. General Dynamics Corporation 70

16.6. L3Harris Technologies, Inc. 70

16.7. BAE Systems, Inc. (U.S. subsidiary of BAE Systems) 70

16.8. Boeing Defense, Space & Security 70

16.9. Textron Inc. 70

16.10. Honeywell International Inc. 70

16.11. Oshkosh Defense, LLC 70

List of Figures

FIG NO. 1. North America Soldier Modernization Market Revenue, 2018 – 2032 (USD Million) 22

FIG NO. 2. Porter’s Five Forces Analysis for North America Soldier Modernization Market 29

FIG NO. 3. North America Soldier Modernization Market Import Volume/Revenue, By North America, 2018 – 2023 31

FIG NO. 4. North America Soldier Modernization Market Export Volume/Revenue, By North America, 2018 – 2023 32

FIG NO. 5. North America Soldier Modernization Market Demand Volume/Revenue, By North America, 2018 – 2023 33

FIG NO. 6. North America Soldier Modernization Market Supply Volume/Revenue, By North America, 2018 – 2023 34

FIG NO. 7. North America Soldier Modernization Market Production Volume/Revenue, By North America, 2018 – 2023 35

FIG NO. 8. North America Soldier Modernization Market Price, By System, 2018 – 2023 36

FIG NO. 9. Raw Materials Price Trend Analysis, 2018 – 2023 37

FIG NO. 10. Manufacturing Cost Analysis 38

FIG NO. 11. Manufacturing Process 38

FIG NO. 12. Value Chain Analysis for North America Soldier Modernization Market 39

FIG NO. 13. Company Share Analysis, 2023 40

FIG NO. 14. Company Share Analysis, 2023 41

FIG NO. 15. Company Share Analysis, 2023 41

FIG NO. 16. Company Share Analysis, 2023 42

FIG NO. 17. Soldier Modernization Market – Company Volume Market Share, 2023 43

FIG NO. 18. Soldier Modernization Market – Company Revenue Market Share, 2023 44

FIG NO. 19. Soldier Modernization Market Revenue Share, By System, 2023 & 2032 50

FIG NO. 20. Market Attractiveness Analysis, By System 51

FIG NO. 21. Incremental Revenue Growth Opportunity by System, 2024 – 2032 51

FIG NO. 22. Soldier Modernization Market Revenue, By System, 2018, 2023, 2027 & 2032 52

FIG NO. 23. North America Soldier Modernization Market for Weapon Systems, Revenue (USD Million) 2018 – 2032 53

FIG NO. 24. North America Soldier Modernization Market for Communication Systems, Revenue (USD Million) 2018 – 2032 54

FIG NO. 25. North America Soldier Modernization Market for Protection Systems, Revenue (USD Million) 2018 – 2032 55

FIG NO. 26. North America Soldier Modernization Market for Power Systems, Revenue (USD Million) 2018 – 2032 56

FIG NO. 27. North America Soldier Modernization Market for Others, Revenue (USD Million) 2018 – 2032 57

FIG NO. 28. Soldier Modernization Market Revenue Share, By Platform, 2023 & 2032 59

FIG NO. 29. Market Attractiveness Analysis, By Platform 60

FIG NO. 30. Incremental Revenue Growth Opportunity by Platform, 2024 – 2032 60

FIG NO. 31. Soldier Modernization Market Revenue, By Platform, 2018, 2023, 2027 & 2032 61

FIG NO. 32. North America Soldier Modernization Market for Airborne, Revenue (USD Million) 2018 – 2032 62

FIG NO. 33. North America Soldier Modernization Market for Naval, Revenue (USD Million) 2018 – 2032 63

FIG NO. 34. North America Soldier Modernization Market for Land, Revenue (USD Million) 2018 – 2032 64\

List of Tables

TABLE NO. 1. : North America Soldier Modernization Market: Snapshot 21

TABLE NO. 2. : Drivers for the Soldier Modernization Market: Impact Analysis 25

TABLE NO. 3. : Restraints for the Soldier Modernization Market: Impact Analysis 27

TABLE NO. 4. : North America Soldier Modernization Market Revenue, By System, 2018 – 2023 36

TABLE NO. 5. : Key Raw Materials & Suppliers 37

TABLE NO. 6. : North America Soldier Modernization Market Revenue, By System, 2018 – 2023 (USD Million) 65

TABLE NO. 7. : North America Soldier Modernization Market Revenue, By System, 2024 – 2032 (USD Million) 65

TABLE NO. 8. : North America Soldier Modernization Market Revenue, By Platform, 2018 – 2023 (USD Million) 66

TABLE NO. 9. : North America Soldier Modernization Market Revenue, By Platform, 2024 – 2032 (USD Million) 66

Frequently Asked Questions:

What is the current size of the North America Soldier Modernization Market?

The North America Soldier Modernization market is projected to grow from USD 537.70 million in 2024 to USD 852.05 million by 2032, reflecting a compound annual growth rate (CAGR) of 5.92%.

What factors are driving the growth of the North America Soldier Modernization Market?

The market is driven by increasing defense budgets in the U.S. and Canada, advancements in wearable technologies, augmented reality, and autonomous systems, and the rising focus on soldier safety and operational efficiency. Geopolitical instability and evolving threats, such as cyber warfare and terrorism, further accelerate the demand for modernization initiatives.

What are the key segments within the North America Soldier Modernization Market?

The market is segmented by system into weapon systems, communication systems, protection systems, power systems, and others. Additionally, it is categorized by platform into land, naval, and airborne segments. The U.S., Canada, and Mexico are the key geographical regions driving the market.

Who are the major players in the North America Soldier Modernization Market?

Prominent players include BAE Systems, Lockheed Martin Corporation, Raytheon Technologies Corporation, Northrop Grumman Corporation, General Dynamics Corporation, L3Harris Technologies, Boeing Defense, Space & Security, Textron Inc., Honeywell International Inc., and Oshkosh Defense, LLC. These companies lead in developing innovative solutions tailored to enhance soldier performance, safety, and operational capabilities.

Purchase Options

Single User

$3699

Multi User

$4699

Custom Report

$6699

Let us help you

MIKE, North America

+1 304 308 1216

KEITH PHILLIPS, Europe

+44 7809 866 263

EMAIL US

Request Sample

Report delivery within 24 to 48 hours

– Other Info –

–What people say?-

I am very impressed with the information in this report. The author clearly did their research when they came up with this product and it has already given me a lot of ideas.

Jana Schmidt
CEDAR CX Technologies

– Connect with us –