Global Rugged Equipment Market 2018-2022
About Rugged Equipment
Rugged equipment includes those devices that are used in harsh conditions and extreme climatic conditions. These devices are ruggedized based on certain military standards that determine their resistance to dust, water, and vibration.
Technavio’s analysts forecast the global rugged equipment market will register a revenue close to USD 44 billion by 2022.
Covered in this report
The report covers the present scenario and the growth prospects of the global rugged equipment market for 2018-2022. To calculate the market size, the report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Rugged Equipment Market 2018-2022
Technavio recognizes the following companies as the key players in the global rugged equipment market: Curtiss-Wright Defense Solutions, Extreme Engineering Solutions, Harris, Leonardo DRS, Sparton Rugged Electronics, and WinMate.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is incorporation of Internet of things (IoT) in rugged equipment. Rugged equipment is soon supporting the internet of things (IoT). These rugged devices are used in harsh environments, especially in military and defense, and industrial settings. Emerging technologies are set to change the way these end-users operate over the next decade. IoT is one of them, leading the way in bringing about positive change in industries.”
According to the report, one driver in the market is global increase in military expenditure. The world's expenditure for military sector increased in 2016, particularly in the US and Europe; however, it declined in oil extracting countries. The expenditure increased by 0.4% in 2016 when compared with that of 2015. The military and defense expenses are determined based on the economic and political scenario of a country. The exhibit below displays the share of military expenditure in top five countries in 2016.
Further, the report states that one challenge in the market is high initial cost of procurement compared with non-rugged devices. Rugged equipment is nearly twice as expensive than commercial equipment regarding procurement. However, the total cost of ownership for rugged equipment is lesser. Consumer grade products may seem to be the more attractive for enterprises and businesses for their computing needs, owing to the initial low cost of acquisition.
Sparton Rugged Electronics