Yahoo Finance C4ISR Market to reach USD 150 Bn by 2032, Says Global Market Insights inc.
C4ISR Industry size is expected to register 4% CAGR between 2023 and 2032 propelled by the government investments in the modernization of military & defense.
Selbyville, Delaware, May 22, 2024 (GLOBE NEWSWIRE) -- C4ISR Market size may reach USD 150 billion in revenue by 2032, as per a recent study by Global Market Insights Inc.
The growing need to improve intelligence and decision-making capabilities in military and defense operations will drive the industry growth. Modern warfare requires the collection, processing, and dissemination of real time data for effective command and control, making C4ISR systems essential. Governments around the world are working hard to improve their capabilities to protect against terrorism, including cyber-attacks, terrorism, and border wars. Incorporating new technologies, such as AI, ML, and advanced sensors into C4ISR systems is increasing the capabilities and providing soldiers with an intelligence and operational advantage.
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With rising geopolitical tensions and security concerns, the demand for monitoring and surveillance systems to monitor and protect borders is increasing. To cite an instance, in April 2023, Raytheon Technologies introduced RAIVEN to provide military pilots with improved threat identification capabilities. Modernization of existing military infrastructure and use of space-based warfare strategies and the increasing use of C4ISR technology in the commercial sector for critical infrastructure protection and disaster control will also contribute to the market growth.
Rising usage of airborne system
The airborne system type segment in the C4ISR market may exhibit a decent CAGR over 2023-2032. The growth is attributed to their real-time intelligence, monitoring, and surveillance capabilities from a high-level location. Airborne systems, including drones, aircraft, and satellites, provide extensive reach, rapid deployment, and the ability to operate in a variety of challenging environments. They are also essential in modern military operations as they enable continuous surveillance, precise targeting, and actionable information about critical areas. The growing use of unmanned aerial vehicles (UAVs) in a variety of military and civilian applications is also reflecting the rising importance of aerial systems for strategic and tactical advantages.
Homeland security to record high demand
C4ISR market from the homeland security end use industry segment will register noteworthy growth from 2023 to 2032. This is driven by the growing need for advanced surveillance, intelligence, and communications systems to counter a wide range of security threats, including terrorism, cyber-attacks and natural disasters. As these threats increase in sophistication, C4ISR capabilities must be enhanced to ensure rapid response, better coordination, and better situational awareness. Governments and security agencies are working hard to modernize the national security infrastructure with cutting-edge C4ISR technologies to protect critical infrastructure, manage border security and handle emergency response operations.
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Asia Pacific to witness lucrative growth
Asia Pacific C4ISR market will register decent growth rate from 2023 to 2032. With the increasing security concerns and emerging regional conflicts, countries are striving to strengthen their governance, management, communication and intelligence, inspection, and inspection capabilities. The growing adoption of advanced technologies, such as unmanned aerial vehicles (UAVs), satellite communication systems, and space-based warfare solutions is further driving the regional market growth.
C4ISR Market Participants
Some of the leading C4ISR companies are BAE Systems PLC, Lockheed Martin Corporation, Elbit Systems, Thales Group, Raytheon Technologies¸ L3Harris Technologies and Northrop Grumman Corporation. These firms are focusing on product development & launches, mergers & acquisitions and collaborations to expand their product portfolio. To illustrate, in February 2024, Elbit Systems introduced a new advanced Hermes family UAS with exceptional endurance and versatility for land, air, and sea missions.
About Global Market Insights
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
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