Battlefield Management Systems - Global Market Outlook (2018-2027)
According to Stratistics MRC, the Battlefield Management Systems Market is accounted for $14.20 billion in 2018 and is expected to reach $26.32 billion by 2027 growing at a CAGR of 7.1% during the forecast period. Military modernization programs, enhanced situational awareness, increasing defense budgets of countries worldwide, border disputes, and rising tensions between Middle Eastern countries are some of the factors driving the battlefield management system market. However, the significant expenses required for implementation of battlefield management systems is hampering the market.
Battlefield management systems provide precise real-time data to military unit for effective decision making. These systems integrate information acquisition and processing to improve control and command of a military unit. Battlefield management systems (BMS) enable absolute situational awareness by effectively displaying fundamental information to the field commander. This system offers incorporated COP (common operating picture) with the assistance of collaborative planning tools. This encourages tactical commanders to take information based and responsive decisions and execute exceptionally highly efficient control over operations in fluid and dynamic battlefield.
In terms of platform, the vehicle segment is likely to have a huge demand in the forecast period. The modernization of military operations as well as the increasing demand for connected vehicles need for network-centric battlefield programs, availability of small and robust electronic components, and the rising need for accuracy in navigation & control systems deployed in military land vehicles are the elements driving the growth of this segment.
Based on geography, North America is estimated to have a lucrative growth due to due to the increasing defense expenditure and growing adoption of battlefield management systems (BMS) by government and defense bodies.
Some of the key players in Battlefield Management Systems market include Raytheon Company, Elbit Systems Ltd., General Dynamics Corporation, Saab AB, Rockwell Collins, Inc., Harris Corporation, BAE Systems PLC, ATOS SE, Indra Sistemas, S.A., Cobham PLC, Aselsan A.S., Rolta India Limited, Leonardo S.P.A., Thales Group, Rheinmetall AG, Israel Aerospace Industries Limited, Kongsberg Gruppen Asa, Ruag Holding AG, and Systematic A/S.
• Imaging Devices
• Computer Hardware Devices
• Tracking Devices
• Wireless Communication Devices
• Wired Communication Devices
• Display Devices
• Night Vision Devices
• Computer Software
• Identification Friend Or Foe (IFF)
• Dismounted Soldier Systems
• Commander Systems
• Other Types
• Computing System
• Navigation & Imaging System
• Communication & Networking System
• Tracked and Armored Vehicles
• Commander Systems and BMS software
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
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