Battlefield Management Systems Market worth $11.8 billion by 2025 - Exclusive Report by MarketsandMarkets™
CHICAGO, Jan. 19, 2021 /PRNewswire/ -- According to the new market research report "Battlefield Management Systems Market by Solution (Hardware, Software) Platform (Armored Vehicles, Headquarter, and Command Centers, Soldier Systems), System, Component, Installation Type, End-User, Region - Global Forecast to 2025", published by MarketsandMarkets™, the 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. Some of the factors that are expected to fuel the growth of the battlefield management systems market include the increasing demand for enhanced situational awareness and rising budget allocations for military modernization programs.
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Based on solution, the hardware segment is projected to grow at the highest CAGR during the forecast period.
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 grow at the highest CAGR during forecast period.
Based on system, the computing system segment is projected to grow at the highest CAGR during 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.
Based on platform, the headquarter & command centers segment is projected to grow at the highest CAGR during forecast period.
Based on platform, the headquarter & command centers segment is projected to grow at the highest CAGR during forecast period. The growing demand for effective software modules to manage various functions of headquarter and command centers during real-world combat situations is projected to drive the growth of this segment.
Based on end user, the army segment is projected to grow at the highest CAGR during forecast period.
Based on end user, the army segment is projected to grow at the highest CAGR during forecast period. Increasing use of battlefield management systems for real-time intelligence distribution is projected to drive the growth of this segment.
Browse in-depth TOC on "Battlefield Management Systems Market"
290 – Tables
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278 – Pages
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The Battlefield Management Systems Market in Asia Pacific is projected to grow at the highest CAGR from 2020 to 2025.
The Asia Pacific battlefield management systems market is projected to grow at the highest CAGR during the forecast period. The growth of the Asia Pacific battlefield management systems market is primarily driven by increasing focus on modernization of existing military systems by major economies in this region. In addition, factors including increasing geopolitical tensions and increased defense related expenditure are expected to drive the demand for battlefield management systems in the region.
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).
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