Battlefield Management Systems Market is expected to grow from US$ 15.97 billion in 2019 to US$ 26.25 billion by 2027; it is estimated to grow at a CAGR of 6.4% from 2020 to 2027.
New York, Nov. 30, 2022 (GLOBE NEWSWIRE) — The Insight Partners published latest research study on The battlefield management systems market, various factors are driving the market such as need for enhanced situational awareness technologies; situational awareness empowers to keep track of the soldier while combating. Due to penetration of digitization in in evolving technologies, the military sector is investing in advanced technologies to keep track on the enemies all the time. The military battle is going high-tech as technologies such as the Internet of Things (IoT) for battle gear embedded with a biometric wearable are deployed to help soldiers identify the enemy and perform better in battle.
The IoT has robust military applications in a cohesive network that surge situational awareness. In addition, IoT is a strong edge architecture, by using environmental sensors, biometrics, and other connected devices to send and receive data rapidly, it enables military personnel to respond during potentially dangerous situations on the battlefield. Furthermore, BMS allows absolute situational awareness by efficiently displaying crucial data to the field commander.
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Global Battlefield Management Systems Market Report Scope, Segmentations, Regional & Country Scope:
|Market Size Value in||US$ 15.97 Billion in 2019|
|Market Size Value by||US$ 26.25 Billion by 2027|
|Growth rate||CAGR of 6.4 % from 2020 to 2027.|
|Forecast Period||2020- 2027|
|No. of Pages||164|
|Historical data available||Yes|
|No. of chart and figures||69|
|Segments covered||Component; System: Application|
|Regional scope||North America; Europe; Asia Pacific; Latin America; MEA|
|Country scope||US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina|
|Report coverage||Revenue forecast, company ranking, competitive landscape, growth factors, and trends|
|Key Research Capabilities||Global Market Assessment, Business Development Strategies, Competitive Landscape, Opportunity Analysis, Regional and Country Level Market Analysis, Market Entry Strategies, Market Dynamics, Risk and Return Assessments, Pricing Analysis, Market Size and Forecasting, Company Profiling, Value Chain Analysis, Expansion Strategies, SWOT Analysis, New Product Development|
|Purchase Options||Request customized purchase options to meet your research needs.|
Battlefield Management Systems Market: Competitive Landscape and Key Developments
BAE Systems PLC, Elbit Systems Ltd., General Dynamics Corporation, L3 Harris Technologies, Inc., Leonardo S.P.A., Raytheon Company, Rheinmetall AG, Collins Aerospace, SAAB AB, and Thales Group. Several other players are also operating in the battlefield management system market and are supplying technologically advanced BMS to different military forces, which is ultimately fostering the growth of battlefield management system market.
The Report Insights and Findings
- Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the global battlefield management systems market
- Highlights key business priorities in order to assist companies to realign their business strategies
- The key findings and recommendations highlight crucial progressive industry trends in the global battlefield management systems market, thereby allowing players across the value chain to develop effective long-term strategies
- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
- Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it
- Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution
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APAC encompasses countries such as India, China, Japan, and Rest of APAC. The tensions between countries in various regions, such as that between the US and China, is a major factor boosting military spending by governments. China, India, Japan, South Korea, and Australia are among the top five military spenders in the world. The spending by China alone accounted for 49% of total spending on the defense sector in APAC in 2018. Apart from these mentioned countries, Afghanistan is also focused on increasing its military spending. For instance, in 2017, military expenditure in Afghanistan had dropped by 26%; however, in 2018, it was increased by 6.7% to US$ 198 Mn. The growth in the military power of China, along with its focus on investments in high-end technologies such as BMS, is likely to propel the overall growth of the region in the coming years, and these developments are driving the battlefield management system market in APAC.
With the growing technological advancement, military sector across the globe are aiming to improve their land, airborne, and naval capabilities. The rising cross border activities and unavoidable situation across the borders demand advanced technical systems. Artificial intelligence (AI), when integrated with the weapons, drones, and other products is playing a major role in military sector. AI research is ongoing in the fields of intelligence collection and analysis, command and control, and in a variety of vehicles, and it has been incorporated into military operations in Syria and Iraq. China is betting on AI to optimize its defense capabilities and is predicted to become the world leader in AI field by 2030. Currently, they are focused on using AI to make well-informed and faster decisions and on building variety of autonomous military vehicles. Russia is also active in the development of AI for the military sector, with a significant focus on robotics.
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The DoD is pursuing new technology development, operational concepts, and organizational constructs to maintain the military’s technological superiority. The region is highly focused on adopting advanced technologies to integrate with BMS and efficiently use it in the battlefield. The government is engaged in robust R&D activities of the military technologies to handle dangerous situations on the battlefield. North America is a potential region in terms of technology, and the region invests heavily in deploying advanced technology in the military industry. The huge adoption of advanced technology in the region has created a positive impact on the battlefield management system market. The governments of the region are focusing heavily on the military sector, and therefore have increased its budget.
With the growing technological advancement, military sector across the globe are aiming to improve their land, airborne, and naval capabilities. The rising cross border activities and unavoidable situation across the borders demand advanced technical systems. Artificial intelligence (AI), when integrated with the weapons, drones, and other products is playing a major role in military sector. AI research is ongoing in the fields of intelligence collection and analysis, command and control, and in a variety of vehicles, and it has been incorporated into military operations in Syria and Iraq. China is betting on AI to optimize its defense capabilities and is predicted to become the world leader in AI field by 2030
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The vehicle segment dominates the battlefield management system market. The defense forces across the world are investing significantly in the modernization of their existing vehicle fleet, to be in line with the ever-changing warfare technologies. The modernization of the vehicles is expected to have a direct impact on the growth of battlefield management system market for cars. Battlefield management systems play a vital role in gathering information regarding enemies, enemy vehicles, and enemy armaments/weaponries. Retrofitting of a military vehicle with BMS allows the military headquarters personnel to relay the battlefield information to the personnel on vehicles, who would forward the same to the dismounted soldiers, thereby enhancing the situational awareness for both vehicles as well as dismounted soldiers
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