What is the future of C4ISR Systems Market? Know Covid Impact on Size, Share & Forecasts
June 22, 2020
The unexpected shifts in the global markets because of the sudden outbreak of the COVID-19 virus have brought many major and minor tremors to industries of all sizes including the C4ISR Systems Market.
It was estimated prior to this unanticipated outbreak that the C4ISR Systems Market will reach an estimated US$ 112.5 billion in 2023,propelled by a host of factors including an increasing military expenditure, especially by the developing economies including China and India, an increased demand for mobile command systems, and a rising demand for advanced electronic systems to gain an edge over others. Also, C4ISR systems offer a wide array of advantages including real-time data collection, situational awareness, tactical communication, and advanced battlefield management systems. This assists the defense forces in decision making and helps the forces to have an edge over others.
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C4ISR Systems Market Segment Insights:
By Platform Type:
The land segment currently dominates the market and is likely to maintain its dominance throughout the forecast period, driven by the high allocation of defense budget coupled with a greater demand for the procurement of command & control and communications systems. Airborne, the second largest segment, is likely to witness the highest growth during the forecast period, driven by an increasing demand for UAVs (Unmanned Aerial Vehicles) and a greater need for intelligence gathering.
By Application Type:
The ISR segment is likely to maintain its dominance during the forecast period, driven by an advancement in the ISR systems including radars, sonars, and electro-optic sensors as well as rising demand for ISR systems to stay ahead of their opponents. The communication segment is likely to grow highest during the same period, driven by a higher focus on the upgrade of communication systems.
By Region:
North America is expected to remain the most dominant market during the forecast period. The USA is likely to remain the growth engine of the region’s market during the same period. High defense budget coupled with the presence of all the major C4ISR system providers is the driving force behind the dominance of the region’s market.
Asia-Pacific is likely to witness the highest growth during the same period, primarily driven by rising defense budget of the major Asian economies. China, India, and South Korea are the major markets for C4ISR systems in the region and are likely to create most of the demand for these systems in the coming years.
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This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools.
Based on the research, a proper report is crafted with the following key features:
- Market structure: Overview, industry life cycle analysis, supply chain analysis
- COVID-19 Impact Assessment.
- Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
- Market trend and forecast analysis
- Market segment trend and forecast
- Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
- Attractive market segments and associated growth opportunities
- Emerging trends
- Strategic growth opportunities for the existing and new players
- Key success factors
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