Jay Clemens
A Research and Markets report predicts the global soldier modernization market will hit $12.8 billion by 2025 from $8.3 billion in 2015.
The report analyzed drivers, spending pattern, modernization trends and growth stimulators for the soldier modernization market in a span of 10 years, Research and Markets said Tuesday.
It set the compound annual growth rate at 4.38 percent, with technological innovations and the rapid evolution of battlefield scenarios among growth drivers during the forecast period.
The report also indicated an increase in market size for C4ISR (4.40%), lethality (5.26%) and sustainability-based (6.36%) soldier modernization systems through 2025.
