Move over Tony Stark the real Iron Man is here. It would seem that the U.S. Special Operations Command Chief Adm. William McRaven is heading up the creation of a special armored exoskeleton for military personnel. This new armor has been dubbed the Tactical Assult Light Operator Suit, or TALOS. It can ward off explosions, has integrated weapons, displays for power and health monitoring, and it would be a fluid body armor. The material can change from liquid to solid in a millisecond when exposed to the proper electrical current plus provide protection against ballistic weapons. It can also protect against extreme heat and cold and has night vision technology. It includes oxygen, advanced communications and sends out an alert if the soldier is injured, it will also spray a foam into the wounds that will stop bleading until a medical team arrives.
See the below video for a demonstration of this new suit.
There is actually another project in the works as well that was started before TALOS. Lockheed Martin have been working on the Human Universal Load Carrier (HULC), an exoskeleton-style system. The user can carry unusually heavy loads without fatigue. It uses titanium alloys along with a series of motors and microprocessors to provide lightweight strength. This exoskeleton actually inspired the body armor Matt Damon wore in the movie Elysium and they are ready to field test it on soldiers in Afghanistan.