A promising industry for exoskeleton wearable robots and extensions that can hold an array of handy tools, firepower, locomotive devices and sturdy armor is bringing the Iron Man fiction closer to reality while revolutionizing robot wrestling to what can lead to a Transformers-like era with heroes taking down bad guys in Pacific Rim style. 

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Until recently in human history, exoskeletons were merely referred to the chitinous outer protective layer in insects. Now, thanks to a Bionics revolution, exoskeletons, which have long been used for noble causes such as enabling disabled people to walk or teaching babies to crawl, could finally be used to recreate superhero robots.

With a custom built exoskeleton suit with rocket boosters, tracking missiles and some kickass firepower, many of us could play Iron Man in the real world or take down bad guys in Transformers style. 

Among the super-human abilities that everyone secretly wishes they had is the ability to lift heavy objects effortlessly. This has been the focus of most studies on wearable robotics.

In recent years, defense contractors like Raytheon and Sarcos and government agencies like DARPA have developed armored suits such as HULC (Human Universal Load Carrier). Like its 1960's predecessor Hardiman, developed by US Military, HULC enables the wearer to lift weights up to three times their size.

There are other companies like suitX which develop medical exoskeletons to aid locomotion of physically impaired people.

The latest advances in creating an ultimate customizable iron-man like suit come from a Japanese firm, Suidobashi, which has developed the armored Kuratas that is waiting to be tested in real life combat.

Until now armored suits were seen as a thing for billionaires, but with technological advancement, the cost of wearable robots is expected to decline steeply. Earlier this month, an Indian student, Vimal Govind, from MES College Kerala designed a low-cost wearable robot that costs just $750 USD. With such exoskeletons being manufactured at a larger scale, Robo-wrestling could become a craze with a RealSteal-like twist.

Considering the growing rate of crime and terrorism in the world, these armored suits could find application within the next few years as demands for more durable and hardcore "heroes" is on the rise.

Russia's wearable 'future soldier', a radio communication enabled fighting machine lazed with firearms, might take the lead in that regard.