The battlefield management systems market is projected to grow from USD 9.5 billion in 2020 to USD 11.8 billion by 2025, at a CAGR of 4.3% from 2020 to 2025. The increasing modernization of armed forces to increase command and conrol capabilities throughenhanced situational awareness is the key factor that is expected to fuel the growth of the battlefield management systems market. However, lack of expertise that restrain the adoption of battlefield management systems hurdle the growth of this market.
The battlefield management systems market includes major players Lockheed Martin Corporation (US), Northrop Grumman Corporation (US), Thales Group (France), Collins Aerospace (US), Leonardo SPA (Italy), BAE Systems (UK), Atos SE (France), Saab AB (Sweden), Aselsan (Turkey), Elbit Systems (Israel) and L3Harris Technologies (US). These players have spread their business across various countries includes North America, Europe, Asia Pacific, Middle East and the Rest of the World. COVID-19 has impacted their businesses as well. Industry experts believe that COVID-19 could affect battlefield management systems by 5-10% globally in 2020.
“The hardware segment of the market is projected to grow at the highest CAGR from 2020 to 2025.”
Based on solution, the hardware segment is projected to grow at the highest CAGR during the forecast period. The growth of the hardware segment is driven by the increasing demand for various components in a battlefield management system, such as, communication devices and computing devices among others, to improve operational efficiency.
“Based on system, the computing system segment is projected to lead the battlefield management systems market across the forecast period”
Based on system, the computing system segment is projected to lead during the forecast period. The demand for sophisticated computing system to support decision making process by several defense organizations is driving the computing system segment growth globally.
“The North American region is estimated to account for the largest share of the battlefield management systems market in 2020”
The battlefield management systems market in the North American region is expected to witness substantial growth during the forecast period, owing to the high adoption of modernization of armed forces across the region.
The break-up of the profiles of primary participants in the battlefield management systems market is as follows:
- By Company Type: Tier 1 - 30%; Tier 2 - 40%; and Tier 3 - 30%
- By Designation: C Level Executives - 40%; Directors - 32%; and Others - 28%
- By Region: North America - 40%; Europe - 15%; Asia Pacific - 40%, Rest of the World - 5%
Major players in the battlefield management systems market are Lockheed Martin Corporation (US), Northrop Grumman Corporation (US), Thales Group (France), Collins Aerospace (US), Leonardo SPA (Italy), BAE Systems (UK), Atos SE (France), Saab AB (Sweden), Aselsan (Turkey), Elbit Systems (Israel) and L3Harris Technologies (US).
This market study covers the battlefield management systems market across various segments and subsegments. It aims at estimating the size and growth potential of this market across different segments based on end user, platform, component, system, and region. This study also includes an in-depth competitive analysis of the key players in the market, along with their company profiles, key observations related to their product and business offerings, recent developments undertaken by them, and key market strategies adopted by them.
Reasons To Buy this Report
- This report is expected to help market leaders/new entrants by providing them the closest approximations of the revenue numbers for the overall battlefield management systems market and its segments.
- This study is also expected to provide region-wise information about the applications wherein battlefield management system solutions are used.
- It also aims at helping the stakeholders understand the competitive landscape of the market, gain insights to improve the position of their businesses, and plan suitable go-to-market strategies.
- This report is also expected to help them understand the pulse of the market and provide them with information on key drivers, restraints, challenges, and opportunities influencing the growth of the battlefield management systems market.