C5ISR Market to Reach USD 152.51 Billion in 2028; High
Pune, India, August 10, 2021 (GLOBE NEWSWIRE) – The Global C5ISR market size is expected to receive a boost from the growing need for battlefield management systems for effective ground operations. It is able to provide decision-making tools, unique sensors and weapon platforms to soldiers or a single commander. Raytheon Technologies Corporation, for example, signed a $ 350 million contract with the US Air Force in June 2020 to develop state-of-the-art battlefield management systems.
According to a report by Fortune Business Insights ™ entitled “C5ISR Market size, share and impact analysis of COVID-19, by type (land, naval, airborne, space), by application (electronic warfare, surveillance and intelligence, intelligence, command and control), by decision (product and Services) and Regional Forecast, 2021-2028The market size was USD 120.35 billion in 2020. It is expected to increase from USD 123.63 billion in 2021 to USD 152.51 billion in 2028 with a CAGR of 3.04% in forecast period.
The COVID-19 pandemic: Increasing opportunities in different countries to support growth
The outbreak of the COVID-19 pandemic has had a positive impact on this industry worldwide. Most of the companies present in the industry seek to improve their capabilities by carrying out extensive research and development activities. In 2021, for example, China increased its defense budget by 6.8% to improve its military. We offer in-depth research reports to help you get a clear idea of the current market scenario in the context of the pandemic.
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The market research report provides in-depth information on value chain optimization, recent developments, import and export analysis, market share, production analysis, trade regulations, strategic growth analysis, impact of local and localized organizations, application niches, geographical expansions, emerging revenue pockets, technological innovation, product approvals and market growth categories.
Drivers and restrictions:
The growing need for real-time database access will favor growth
The high demand for situation awareness in order to analyze, identify and process critical systems for obtaining information on battlefield operations will stimulate the growth of the C5ISR market. This cutting-edge technology helps offer marine, ground and air solutions and provides real-time access to the database. The battlefield decision-making process requires video control, high-bandwidth sensors, and secure network routers. At the same time, these systems help generate vital information about the sensor, the flight and the mission to improve the efficiency of the decision-making process. However, C5ISR systems are very expensive due to the inclusion of various unique components. This can hinder growth.
The presence of Northrop Grumman and General Dynamics to help North America dominate
Geographically, North America has provided $ 50.86 billion in 2020 in terms of revenue. It is expected to remain at the forefront in the near future due to the presence of many reputable C5ISR suppliers, such as Lockheed Martin Corporation, General Dynamics Corporation, L3Harris Technologies Inc. and Northrop Grumman Corporation. On the other hand, Europe will show significant growth due to higher defense spending than Russia, France and Germany. In the Asia-Pacific region, South Korea, India and China are likely to make a major contribution to growth, supported by rising military spending.
Naval The segment gained a 42.66% share in 2020: Fortune Business Insights ™
By type, the market is divided into space, air, sea and land. Of these, the maritime segment generated 42.66% of C5ISR’s market share in 2020. Several countries, such as the United States, India and China, are investing huge sums in fleet modernization programs. It is set to stimulate the growth of this segment.
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The main players are focusing on creating new contracts to strengthen their positions
The market contains a large number of prominent producers who are persistently striving to win new contracts from government agencies. This strategy helps them to strengthen their position on the world market.
Fortune Business Insights describes some of the prominent companies operating in the C5ISR market. They are as follows:
- BAE Systems (United Kingdom)
- CACI International Inc. (USA)
- Collins Aerospace (USA)
- Elbit Systems Ltd. (Israel)
- General Dynamics Corporation (USA)
- L3Harris Technologies Inc. (USA)
- Lockheed Martin Corporation (USA)
- Northrop Grumman Corporation (USA)
- SAAB AB (Sweden)
- Thales Group (France)
KEY DEVELOPMENTS OF INDUSTRY:
- February 2020: BAE Systems receives a four-year contract from the US Navy worth $ 42.5 million. This would allow the company to provide support services for integrated shore-based landing systems (LSI) for tool landing systems and tool carriers.
- February 2020: Leonardo DRS, Inc. received a contract to provide a package of electronic products worth $ 808 million. These products will be used to connect C5ISR equipment to combat vehicles. This would help federal agencies meet the interconnection requirements.
- Scope of research
- Market segmentation
- research methodology
- Definitions and assumptions
- Market dynamics
- Market drivers
- Market restrictions
- Market opportunities
- Key Insights
- Key industrial developments – mergers, acquisitions and partnerships
- The latest technological advances
- Carriers of five forces analysis
- Supply chain analysis
- Quantitative information – Impact of the COVID-19 pandemic on the C5ISR market
- Impact of COVID-19 on the global C5ISR market
- Steps taken by industry / companies / governments to overcome the impact
- Key developments in the industry in response to the COVID-19 pandemic
- Potential opportunities due to the COVID-19 epidemic
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