The new report by Expert Market Research titled, ‘Global Military Sensors Market Size, Share, Price, Trends, Growth, Report and Forecast 2021-2026’, gives an in-depth analysis of the global military sensors market, assessing the market based on its segments like component, platform, end-uses and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
Note 1: For a snapshot of the primary and secondary data of the market (2016-2026), along with business strategies and detailed market segmentation, please click on request sample report. The sample report shall be delivered to you within 24 hours.
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The key highlights of the report include:
Market Overview (2016-2026)
• Historical Market Size (2021): USD 23.8 billion.
• Forecast CAGR (2021-2026): 5.4%
The military sensors market is expected to witness rapid growth on account of research & development in defence systems and modernisation in various countries across the globe. The increasing demand for real-time processing, machine learning and AI is anticipated to drive the military sensors market, in the software segment. The land segment growth is often ascribed to the improved demand for unmanned ground vehicles within the defence sector.
Industry Definition and Major Segments
Military sensors are used to collect and save information crucial to the safety and security of a nation. These are segmented on the basis of components, platform, end-uses and region.
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On the basis of components, the industry is divided into:
On the basis of platform, the industry is divided into:
o Fighter Aircraft
o Combat Support Aircraft
o Unmanned Aerial Vehicles
o Armoured Ground Vehicles
o Combat Support Vehicles
o Unmanned Ground Vehicles (UGVS)
o Operating Bases
o Combat Ships
o Combat Support Ships
o Unmanned Marine Vehicles (UMVS)
o Rockets & Missiles
o Guided Ammunition
o Artillery Systems
On the basis of end use, the industry is divided into:
• Intelligence & Reconnaissance
• Communication & Navigation
• Combat Operations
• Electronic Warfare
• Target Recognition
• Surveillance & Monitoring
• Artillery Systems
• Command & Control
The regional markets for military sensors include:
• North America
• Asia Pacific
• Latin America
• Middle East and Africa
The global military sensors market is expected to be driven by the increasing need for high tech surveillance on account of increasing instances of espionage and other passive warfare techniques. Leading nations are actively increasing their spending capacity for military and defense establishments. Thus, ensuring advanced technology-based warfare being available at hand as and when required. The United States, China, Saudi Arabia, and India are among the leading nations with highest military spending ranging from USD 750 billion to USD 61 billion as of 2021. There is also increasing need for real-time data processing and analysis through machine learning and artificial intelligence, which is further expected to increase the demand for military sensors in the forecast period.
Key Market Players
The major players in the market are Honeywell International Inc., TE Connectivity Ltd., Raytheon Company, Lockheed Martin Corporation, Thales SA, Kongsberg Gruppen, Ultra Electronics, Esterline Technologies Corporation, General Electric Company, BAE Systems PLC, Microflown Avisa B.V., Vectornav Technologies, LLC among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments, and mergers and acquisitions, among other latest developments of these market players.
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Note 2: As the novel coronavirus (COVID-19) continues to spread across the world, our analysts are constantly tracking the impact of this rapidly evolving situation on the markets and the consumer purchase behaviours. Thus, our latest estimates and analysis about the current market trends and forecast will exhaustively reflect the effects of this emerging pandemic.
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