President Obama met with top engineers and Pentagon people last Tuesday and he publicly said: "Basically, I'm here to announce that we're building Iron Man [...] Not really. Maybe. It's classified." It may be funny, but it isn't a joke. They are building Iron Man. The first prototypes are coming this June.
Listen to his speech:
The U.S. Army's Iron Man suit is officially called Tactical Assault Light Operator Suit (TALOS). It won't be able to fly or have little missiles or repulsors, but its feature list is pretty impressive.
TALOS will have ballistic and shock protection, using an armor that will go from flexible soft surface to hard metal solid, which is capable of repelling ammo when applying an electric current. It is also fire-retardant and the suit will store and release energy to prevent injuries and increase performance.
Another feature for the suit is an optional attachable exoskeleton that
will provide with hydraulic mechanisms to improve both strength and
speed.