C4ISR Market worth $147.1 billion by 2026 - Exclusive Report by MarketsandMarkets™
CHICAGO, Aug. 2, 2021 /PRNewswire/ -- According to a research report "C4ISR Market by Solution (Hardware, Application Software & Services), Platform (Airborne, Land, Naval, Space), Application, End User (Defence & Space, Homeland Security, Commercial), Installation, and Region - Forecast to 2026", published by MarketsandMarkets™, the C4ISR market is projected to grow from USD 119.9 billion in 2021 to USD 147.1 billion by 2026, at a CAGR of 4.2% from 2021 to 2026. The C4ISR market is growing at a significant rate across the world, and a similar trend is expected to be observed during the forecast period. The deployment of small, reliable, and sophisticated C4ISR systems in a wide range of applications has increased their demand across the globe. Advancements in ISR technologies and improvements in their manufacturing techniques have led to reduced costs of these systems. Enhanced defense and surveillance capabilities of armed forces and law enforcement are the key factors driving C4ISR market.
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Growing investments by several governments particularly in developed and developing economies such as the US, India, and China, among others. COVID-19 has affected the C4ISR market growth to some extent, and this varies from country to country. Industry experts believe that the pandemic has not affected the demand for C4ISR in applications.
"Based on application, the Intelligence, Surveillance & Reconnaissance (ISR) segment of application is expected to lead the C4ISR market from 2021 to 2026."
Over the past few years, there has been an explosion of activity in the advancement of ISR technology for mission critical data. In September 2020, Lockheed Martin develops signals intelligence capabilities for the Distributed Common Ground System, the Air Force's intelligence, surveillance, and reconnaissance (ISR) system by using agile development.
"Based on platform, the land segment is estimated to lead the C4ISR market from 2021 to 2026."
Based on platform, land segment is estimated to lead the C4ISR market from 2021 to 2026 and is projected to grow further due to the increasing need of multi-mission unmanned ground vehicles (UGV's) for reconnaissance and target acquisition, and increasing need of remote surveillance and piloting, global automation and data management. In January 2019, Canada's Government has awarded three contracts total worth USD 621.5 million to General Dynamics (GD) Mission Systems (Canada) to support of the Canadian Army's Land command, control, communications, computers, intelligence, surveillance and reconnaissance (C4ISR) system.
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"The North America region is estimated to account for the largest share of C4ISR market in 2021."
Based on region, North America is expected to lead the C4ISR market from 2021 to 2026. The US is the largest market share for C4ISR in North America. The increasing investment on C4ISR systems to enhance defense and surveillance capabilities of the armed forces, modernization existing military platforms, critical infrastructure and law enforcement agencies are increasingly using C4ISR systems are key factors expected to drive the C4ISR market in North America.
Contracts were the main strategy adopted by leading players to sustain their position in the C4ISR market, followed by new product developments with advanced technologies. Many companies also collaborated to set up special centers for the research & development of advanced C4ISR technologies.
The C4ISR market is dominated by a few globally established players such as Northrop Grumman (US), Lockheed Martin Corporation (US), BAE Systems (UK), Raytheon Technologies Corporation (US) and General Dynamics Corporation (US), among others.
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