In contrast to an internal skeleton (endoskeleton), which is found, for instance, in a human, an exoskeleton is an exterior skeleton that supports and shields an animal's body. Growing demand for exoskeletons in the military and healthcare industries for rehabilitation, as well as increased investment in the development of exoskeleton technology, are driving the growth of the exoskeleton market. Exoskeletons, which can carry heavier armor while moving swiftly, are becoming more and more in demand in the military, which is why the industry is expanding. Exoskeletons also enable soldiers to traverse more ground and wear heavier armor while lowering the metabolic cost of the load, which is boosting demand for them in the military and, consequently, the market.
Over the course of the projected period, the worldwide Exoskeleton Market is anticipated to grow at a CAGR of 44.16%.
Key Companies in the Exoskeleton Industry:
Ekso Bionics
Ekso Bionics is a company that creates powered exoskeleton bionic devices that may be worn as wearable robots to improve the strength, mobility, and endurance of industrial workers and those who are paralyzed and have mobility problems as a result of brain injuries, strokes, or spinal cord injuries. It was founded in 2005 and headquartered in California, United States. It operates in over 30 countries. Ekso Bionics Holdings, Inc., a pioneer in the development of exoskeletons for medical and industrial applications, unveiled EksoNR, an improved version of EksoGT, the most popular robotic exoskeleton in clinical settings, in November 2019. EksoNR, an intelligent exoskeleton device created for neurorehabilitation, teaches individuals recovering from stroke or other diseases to walk more naturally. The device now includes new features and software enhancements to assist physical therapists and patients get the most out of each rehabilitation session.
ActiveLink (Panasonic Corporation)
ActiveLink (Panasonic Corporation) was founded in 1918 and headquartered in Osaka, Japan. It operates in worldwide.
Cyberdyne, Inc.
Cyberdyne, Inc. is a Japanese robotics and technology company most noted for the marketing and distribution of the HAL robotic exoskeleton suit. It was founded in 2004 and headquartered in Ibaraki, Japan. It operates in 19 countries and regions worldwide. Abdul Latif Jameel and Cyberdyne broaden their cooperation in the GCC region in October 2019. Abdul Latif Jameel and Cyberdyne Holding revealed at the Saudi-Japanese Vision 2030 Business Forum that they had reached an agreement to continue their existing partnership, which had started in March 2017 during King Salman bin Abdulaziz Al Saud's visit to Japan.