Digital Battlefield Market to Reach $156.8 Billion, Globally, by 2031 at 15.7% CAGR: Allied Market Research

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Jan 09, 2023, 10:03 ET

PORTLAND, Ore., Jan. 9, 2023 /PRNewswire/ -- Allied Market Research published a report, titled, "Digital Battlefield Market by Solution (Hardware, Software, Services), by Technology (Artificial Intelligence, Internet of Things (IoT), Robotic Process Automation, Cloud Computing and Master Data Management, 5G, Others), by Application (Warfare Platform, Cyber Security, Surveillance and Situational Awareness, Command and Control, Mobile Communication, Simulation and Training, Design and Manufacturing, Electronic Warfare, Others), by Platform (Land, Naval, Aircraft, Space): Global Opportunity Analysis and Industry Forecast, 2021-2031." According to the report, the global digital battlefield industry generated $38.0 billion in 2021, and is estimated to reach $156.8 by 2031, witnessing a CAGR of 15.7% from 2022 to 2031. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chain, regional landscape, and competitive scenario.

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Drivers, Restraints, and Opportunities

Increase in adoption of 5G network for high-speed data collection, rapid developments in robotics technologies, big data analytics and artificial intelligence, and strong budget for military and defense drive the growth of the global digital battlefield market. However, huge investment required in early phase of digitization, concerns over possibility of errors in complex warfare situations hamper the global market growth. On the other hand, rise in need for digital battlefield devices in defense and introduction of new generation missile & air defense system are likely to create potential opportunities for growth of the global market in the coming years.

Covid-19 Scenario

The global digital battlefield industry was expected to grow between 3% to 4% in 2020. However, the outbreak of the Covid-19 pandemic caused the market to decline, owing to restrictions arising in the global trade and disturbance in the global supply chain.
The lockdown imposed by governments worldwide had its monetary toll, which ceased the service/production cycle and affected inventories, thus creating a situation of apprehension and uncertainty due to interruptions in inventory management, payments, wage bills, and cash flows.

The land segment to dominate in terms of revenue during the forecast period

Based on platform, the land segment was the largest market in 2021, contributing to more than one-third of the global digital battlefield market share, and is expected to maintain its leadership status during the forecast period. This is due to the growing investments in land platform for military which has become extremely important for the defense sector worldwide. On the other hand, the naval segment is projected to witness the fastest CAGR of 20.2% from 2022 to 2031, due to the rising globalization & commercialization, increase in spending capacity of governments with rise in disposable income, and demand for high-end leisure models in the maturing economies.

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The hardware segment to maintain its dominance during the forecast period

Based on solution, the hardware segment held the largest market share of more than three-fifths of the global digital battlefield market in 2021 and is expected to maintain its dominance during the forecast period. This is due to the rise in political tensions and terrorist activities over boundary issues and safety and security concerns leading to a huge demand for military hardware devices across the defense and military industry. The software segment, however, is projected to witness the largest CAGR of 19.2% from 2022 to 2031. This is due to the implementation of defense and military software systems which deliver high assimilation between sensors, communication devices, and control devices.

North America to maintain its leadership in terms of revenue by 2031

Based on region, North America was the largest market in 2021, capturing nearly three-fifths of the global digital battlefield market share and lead in terms of revenue during the forecast period. The growth in the region can be attributed to the extensive adoption of advanced digital battlefields and growth in army demand for warfare products. However, the digital battlefield market in Asia-Pacific is expected to manifest the fastest CAGR of 22.1% during the forecast period, owing to the high adoption of digital battlefield solutions in the region.

Leading Market Players

Lockheed Martin Corporation
Rheinmetall AG
Teledyne FLIR LLC
Northrop Grumman Corporation
L3Harris Technologies, Inc.
Leonardo S.P.A.
Elbit Systems Ltd.
Booz Allen Hamilton Inc.
Raytheon Technologies Corporation
Atos SE

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The report analyzes these key players of the global digital battlefield market. These players have adopted various strategies such as expansion, new product launches, partnerships, and others to increase their market penetration and strengthen their position in the industry. The report is helpful in determining the business performance, operating segments, product portfolio, and developments by every market player.

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