The global Military Exoskeleton Market is experiencing significant growth, with projections indicating a rise to USD 749.27 million by 2030, expanding at a CAGR of 26.2% from 2024. This surge is driven by advancements in wearable robotics, increasing defense budgets, and the need for enhanced soldier performance and safety.

Top 5 Companies Holding the Largest Market Share

According to Maximize Market Research, the leading companies in the military exoskeleton market include:

1. Lockheed Martin Corporation: A global aerospace and defense company, Lockheed Martin has been at the forefront of developing advanced exoskeleton technologies, including the ONYX exoskeleton designed to enhance soldier mobility and reduce fatigue.

2. B-Temia Inc.: A Canadian robotics company specializing in human augmentation systems, B-Temia has partnered with Lockheed Martin to integrate its Dermoskeleton technology into military applications, aiming to improve soldier performance.

3. Sarcos Technology and Robotics Corporation: Sarcos is known for its development of the Guardian XO, a full-body, battery-powered industrial exoskeleton designed to increase human strength and endurance.

4. Ekso Bionics Holdings, Inc.: Ekso Bionics focuses on developing wearable exoskeletons to enhance human mobility and strength, with applications extending to military and industrial sectors.

5. ReWalk Robotics Ltd.: Specializing in wearable robotic exoskeletons, ReWalk Robotics develops systems aimed at enabling individuals with lower limb disabilities to walk again, with potential applications in military rehabilitation programs.

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Latest Mergers and Acquisitions

Strategic mergers and acquisitions are shaping the military exoskeleton market:

• In April 2022, Sarcos Technology and Robotics Corporation acquired RE2, Inc. for $100 million. This acquisition aimed to enhance Sarcos' product line by incorporating RE2's robotic arms and exoskeleton technology, including the Guardian XO full-body industrial exoskeleton. 

Recent Developments in the Market

Technological advancements and research initiatives are driving the military exoskeleton market:

• The U.S. Army continues to explore the use of powered exoskeletons, focusing on augmenting soldier performance. Recently, soldiers at Fort Sill, Oklahoma, evaluated commercial exoskeletons for usability in field operations, supervised by the Army's Combat Capabilities Development Command (DEVCOM). 

• The integration of active exoskeletons, equipped with actuators and hydraulics, is gaining traction due to their ability to provide extra strength and survival capabilities to soldiers during combat. These systems are expected to dominate the global market during the forecast period.

New Funding and Investments

While specific new funding rounds in the military exoskeleton sector are not detailed in the available information, the industry is attracting investments aimed at research and development. Companies are allocating resources to innovate and develop advanced exoskeleton technologies to meet the evolving demands of modern warfare and soldier safety.

Conclusion

The military exoskeleton market is on a robust growth trajectory, propelled by technological innovations, strategic partnerships, and increasing defense investments. Leading companies are focusing on enhancing soldier capabilities through advanced wearable robotics, aiming to improve mobility, strength, and endurance on the battlefield. As the demand for enhanced soldier performance continues to rise, the military exoskeleton industry is poised to play a pivotal role in the future of defense operations.