Ok so I google searched "Power Armor" for shits and giggles and find a wiki article and I vaguely remember seeing something about it on the Discovery Channel a few years back. Anyhow it seems the U.S Army is working on a practical version of Power Armor (they seriously call it that) for use in the Military, construction, rescue operations etc...
There are actually working versions but a power source is difficult and they are big and bulky, difficult to operate. So far they are working on the idea of power cell batteries much like in fallout because motors are noisy, bulky, heavy and need constant refuelling and a mini-nuclear reactor like in Halo is a really bad idea for obvious reasons. So far cells can last a couple hours but they are hoping to make them last for a longer period of time in the future so our soldiers can hulk out Fallout Style and be bullet proof, super strong, faster etc...
Oh ya and Magnum no worries your gear is scheduled for 2020 if all goes right.
Only that works by sending electrical stimulation or some witch craft to the soldiers muscles to make them hulk out naturally when the suit detects that the user is in deep shit. (Anyone else think that soldier is flipping me off?)