- The increasing emphasis on battlefield technology upgrade and extensive rise in investment in defense & foreign intelligence are major factors influencing the market growth.
- Market Size - USD 46.57 billion in 2019, Market Growth - CAGR of 4.8%, Market Trends - Higher usage of Artificial Intelligence in defense intelligence agencies
VANCOUVER, BC, Oct. 26, 2020 /PRNewswire/ -- The Global Ground Defense System Market is forecasted to be worth USD 68.28 billion by 2027, according to a current analysis by Emergen Research. The key factors influencing the market include increasing usage of battlefield intelligence, rising demand for cybersecurity in military & defense intelligence involving the data breaches from the confidential governing bodies, rising threats & tensions in asymmetric warfare, and growing investment in the defense bodies & foreign intelligence platforms, among others.
Besides, tremendous emphasis on the common operating picture (COP) of the ground defense & military operations, and higher capabilities of information dominance, battlefield awareness, and decision advantages of the next generation machinery & information technology pertaining to surveillance & reconnaissance, cybersecurity & data warfare especially, are the crucial reasons behind the enormous growth of this market.
The global landscape of the Ground Defense System market is expected to be highly competitive and fragmented, consisting of a number of both small start-ups & medium enterprises and large conglomerates. During the projected era, increasing demand for technological development and higher diversification in offered products ensure the enormous potential for innovative players.
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Key findings from the report suggest
In May 2020, BAE Systems announced the completion of the acquisition of the business of Airborne Tactical Radios of Raytheon Technologies Corporation. This acquisition will help deliver game-changing electronic mission and control solutions for their customers.
The Defense Intelligence is growing with the fastest CAGR of 6.3% throughout the projected period owing to its higher incorporation of intelligence protocols, including nextgen communication, surveillance, reconnaissance, information fusion & data analytics, electronic welfare & spectrum dominance, and cyber control systems, among others.
The regions in the Asia Pacific, led by China, India, Japan, and South & North Korea, are allotting a considerable budget for their defense grooming purposes. Besides, the growing incidences of interpersonal stand-offs, and asymmetric welfare, along with higher economic development and enhancement in the technological industry, substantially help propel the ground defense market enforcement.
Key players in the market are The Boeing Company, BAE Systems, Lockheed Martin, Rockwell Collins, Elbit Systems, Northrop Grumman, Thales Group, Leonardo S.p.A., Raytheon Company, and General Dynamics, among others.
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For the purpose of this report, Emergen Research has segmented the Global Ground Defense System Market based on Application, End-User, Component, Technology, and Region:
Application Outlook (Revenue: USD Billion; 2017-2027)
End-User Outlook (Revenue: USD Billion; 2017-2027)
Component Outlook (Revenue: USD Billion; 2017-2027)
Technology Outlook (Revenue: USD Billion; 2017-2027)
Regional Outlook (Revenue: USD Billion; 2017-2027)
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