Military Sensors Market by Platform, Component, Application by Thales Group, BAE Systems plc, Raytheon Company, Curtiss-Wright Corp, Honeywell International Inc., Esterline Technologies Corp, Kongsberg Gruppen by 2030
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COVID-19 scenario analysis:
Government initiative of lockdown to slow the spread if COVID-19 has impacted the military sensor developers due to workforce shortage.
Sensor manufacturers are witnessing lack of components supply, necessary for development & manufacturing of military sensors, due to supply chain disruption caused by COVID-19.
Defense contractors relying on international workforce are facing short term operational issues, due to government-imposed restrictions on travel to control the COVID-19 outbreak.
Defense agencies are forced to delay on-going projects as well as research & development in order to comply with the lockdown imposed by authorities.
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Top impacting factors: market scenario analysis, trends, drivers, and impact analysis
Surge in military modernization programs, increase in demand for armored vehicles, and rise in adoption of unmanned vehicles such as UAVs are the factors that drive the global military sensors market. However, policies on development & transfer of weapon system or related technology may hinder the market growth. On the contrary, development of internet of things (IoT), micro-electro chemical system (miniature mechanical & electronics integrated device), and AI present new pathways in the industry.
The global military sensors market trends are as follows:
Surge in military modernization programs
Militaries are investing in next generation sensors to upgrade existing weapon systems and aircrafts. For instance, in December 2019, Pentagon (US Department of Defense headquarters) & Lockheed Martin signed a contract of 99,000,000 USD with Raytheon to integrate Raytheon’s next generation electro-optical distributed aperture system (DAS) into all variants of F-35 (an American stealth multirole combat aircraft) over the next two years. DAS is an awareness system providing 360-degree coverage for missile detection, aircraft tracking, fire control capability, and night vision among many other features. Such substantial investments in sensor upgrades to modernize military is expected to boost global military sensors market.
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Rise in adoption of unmanned vehicles such as UAVs
Defense agencies are focusing on unmanned vehicles to reduce operation cost and increase operability in harsh terrains. Recently, in 2019, US Defense Advanced Research Projects Agency (DARPA) awarded Lockheed Martin a 12,300,000 USD contract to develop a long range, long duration, and payload capable unmanned underwater vehicle (UUV). Moreover, unmanned vehicles (UVs) or drones utilize state-of-art sensors such as ultrasonic fuel flow sensor, capacitive fuel level sensor, and light detection and ranging (LiDAR) sensors. Hence, the development of state-of-art sensors for unmanned vehicles and increased demand for drones will be driving the global military sensors market.
Key benefits of the report:
• This study presents the analytical depiction of the global military sensors industry along with the current trends and future estimations to determine the imminent investment pockets.
• The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global military sensors market share.
• The current market is quantitatively analyzed from 2020 to 2027 to highlight the global military sensors market growth scenario.
• Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
• The report provides a detailed global military sensors market analysis based on competitive intensity and how the competition will take shape in coming years.
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Questions answered in the military sensors market research report:
• Which are the leading market players active in the military sensors market?
• What are the current trends that will influence the market in the next few years?
• What are the driving factors, restraints, and opportunities in the market?
• What are the projections for the future that would help in taking further strategic steps?
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