Rugged Equipment Market size to grow by USD 13.49 billion from 2023 to 2028; Growth Driven by growth of industrial end-users- Technavio

NEW YORK, Nov. 8, 2023 /PRNewswire/ — The rugged equipment market by end-user (government military and defense, aerospace, and industrial and commercial), product (communication equipment, computer system, and display), and geography (North America, Europe, APAC, South America, and Middle East and Africa) – Forecast and Analysis 2024-2028 report has been added to Technavio’s offering. With ISO 9001:2015 certification, Technavio has proudly partnered with more than 100 Fortune 500 companies for over 16 years. The potential growth difference for the rugged equipment market between 2023 and 2028 is USD 13.49 billion. Get deeper insights into the market size, current market scenario, future growth opportunities, major growth driving factors, the latest trends, and more. Buy the full report here

The growth of industrial end-users is a key factor driving market growth. Rugged equipment is used for a wide range of applications, for example, in the energy sector, mining, and aviation industries. Consequently, substantial market growth is generated by the development of these end-user industries. Several market actors, especially in the oil and gas sector as well as mining sectors, are developing tough equipment that can withstand extreme conditions, such as explosions. 

Market Challenge

The high initial cost of procurement compared with non-rugged devices is a significant challenge restricting market growth. The price of rugged equipment compared with commercial equipment for purchasing is almost twice as high. Furthermore, because of the first low acquisition costs, it is likely that consumer-grade products are more appealing to businesses and enterprises for their computing needs. According to estimates, the purchase price of rugged equipment is high even though its yearly TOC is less than that of nonrugged equipment.

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The rugged equipment market is segmented by end-user (government military and defense, aerospace, and industrial and commercial), product (communication equipment, computer system, and display), and geography (North America, Europe, APAC, South America, and Middle East and Africa). 

The government military and defense segment is estimated to witness significant growth during the forecast period. Only military expenditure by countries plays a key role in the market of rugged equipment for Government, Military, and Defense. Additionally, governments around the world are investing in the installation of powerful devices, which will boost market growth. Annual military budget increases help modernize robust military IT systems and protect them against security threats.North America is estimated to contribute 35% to the growth of the global market during the forecast period. 

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Key Companies in the rugged equipment market:

AMETEK Inc., Curtiss Wright Corp., Dell Technologies Inc., Ecrin Systems, Extreme Engineering Solutions Inc., General Dynamics Corp., Getac Technology Corp., Honeywell International Inc., Kontron AG, L3Harris Technologies Inc., Leonardo DRS Inc., Panasonic Holdings Corp., Raytheon Technologies Corp., Siemens AG, Trimble Inc., Zebra Technologies Corp., MilDef Group AB, Sparton Rugged Electronics, Systel Inc., and Winmate Inc.

Related Reports:

The Rugged Handheld Devices Market size is estimated to grow at a CAGR of 7.79% between 2023 and 2028. The market size is forecast to increase by USD 2.48 billion. 

The computer-integrated manufacturing market size is estimated to grow at a CAGR of 7.96% between 2023 and 2028. The market size is forecast to increase by USD 10,255.89 million.

Executive Summary

Market Landscape

Market Sizing

Historic Market Sizes

Five Forces Analysis

Market Segmentation by End-User

Market Segmentation by Product

Market Segmentation by Geography

Customer Landscape

Geographic Landscape

Drivers, Challenges, & Trends

Company Landscape

Company Analysis

Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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SOURCE Technavio