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Which are the leading applications in the situational awareness system market?

05-22-2020 07:04 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: MarketsandMarkets

Growing demand for situational awareness solutions in aviation and military, use of mobility solutions transforming military tactical operations, and the increasing importance of situational awareness in cybersecurity to provide significant situational awarenessare the major factors driving the growth of the situational awareness market. Rising digitization in infrastructure to provide significant opportunities for situational awareness, the significance of situational awareness in the energy sector to provide opportunities, and the implementation of situational awareness in space projects are expected to provide growth opportunities to the situational awareness market.

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By product, RFID solutions of the situational awareness market are projected to register the highest CAGR between 2020 and 2025

Radio frequency identification (RFID) solutions have given a new dimension to the tracking and tracing of goods by offering easy and cost-effective solutions to control theft and counterfeiting, and increase the efficiency of situational awareness solutions across all applications, which would further propel market growth.

By industry, the military & defense segment is expected to witness the highest CAGR during the forecast period

Situational awareness plays a key role in the military and defense industry for improved safety and security. The increased need for safety and security, as well as space situational awareness, is expected to drive the situational awareness market for the military and defense industry.

Among applications, the security and surveillance segment is projected to grow at the highest rate during the forecast period

Situational awareness for security & surveillance is important for homeland security, cybersecurity, maritime security, and network security. With increased terrorism, organized crime, hijacking, hostage-taking, refugee smuggling, narcotics trading, illegal underwater activities, the situational awareness market for security and surveillance is also expected to grow.

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By region, Asia Pacific is estimated to grow at the highest rate during the forecast period

This growth in the situational awareness market in APAC can be attributed to the increasing demand for situational awareness systems in the military & defense sector in this region. Situational awareness systems are used for safety and security purposes in the military, aviation, homeland security, cybersecurity, and industrial sectors.

General Electric (US), Lockheed Martin (US), Honeywell (US), DENSO (Japan), BAE Systems (UK), UTC (US), Microsoft (US), Barco (Belgium), AMD (US), L3Harris Technologies (US), General Dynamics (US), Xilinx (US), Qualcomm (US), Robert Bosch (Germany), Pleora Technologies (Canada), Nexvision (France), Bertin Instruments (France), Axis Communications (Sweden), Johnson Controls (Ireland), Boeing (US), Airbus (France), and Sensara (US) are some of the key players in the situational awareness market.

Mr. Aashish Mehra
MarketsandMarkets(TM) INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
newsletter@marketsandmarkets.com

MarketsandMarkets(TM) provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets(TM) for their painpoints around revenues decisions.

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