US President Barack Obama jokingly said at a press conference that he was there to announce the building of Iron Man, however, the statement should be taken in all its seriousness as the US military has already been working on such a project.
The US military has indeed been creating a suit, called the Tactical Assault Light Operator Suit (TALOS), designed to give its wearer superhuman strength and perception.
According to The Verge, the military announced working on TALOS in last May and hoped to have an initial suit within a year and potentially having the final product on the field within three years.
The hi-tech suit would give a wearer full-body bullet protection and include a built-in weapon of its own, apart from monitoring its wearer's vitals, including body and skin temperature, heart rate, and hydration.
The report said that the US military wants TALOS to use networking and an onboard computer to give its wearer an enhanced awareness of the situation and action around them, which would be helpful especially during wars.