The integration of the Internet of Things (IoT) in the military has advanced rapidly in the modern age, contributing to the emergence of a new research area called the Internet of Military Things (IoMT). The capability of making important deliberations that will yield beneficial results in the operations of the military sector is enhanced, but this also gives rise to challenges such as the security threats comprising Man-in-the-middle (MitM), side channel, and Denial of service (DoS). This paper discusses core security standards, notably confidentiality and authentication, that are vital for maintaining safety on the battlefield and the challenges that affect the secure data exchange among the IoMT components. This study further provides an analysis of security solutions in the existing literature that aids in a better understanding of intensifying the secure functioning of IoMT systems. Incorporating energy-efficient frameworks, scalable protocols, and intelligent systems are discussed as cutting-edge opportunities for researchers in the context of IoMT.