Situation Awareness System Market Share Expected to Reach USD 67.27 Billion by 2030|Top Players such as - GE, Denso and Honeywell

According to the report published by Allied Market Research, The Situation Awareness System Market Share Expected to Reach USD 67.27 Billion by 2030|Top Players such as - GE, Denso and Honeywell. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions.

Significant surge in the adoption of situational awareness systems by governments for the defence sector in various countries across the globe, increase in the use of displays among end-users to process real-time videos, remarkable perks of GPS systems such as detection, immediate and precise situation awareness even in the extreme weather conditions, and extensive use of control and command systems in the aerospace industries are expected to drive the growth of the global situation awareness system market.

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The report offers a detailed segmentation of the global situation awareness systems market based on component, type, industry vertical, and region. Based on type, the command & control system segment held the largest market share in 2020, garnering nearly one-third of the total market. The sonar segment, on the other hand, is predicted to cite the fastest CAGR of 11.92% during the forecast period.

Based on component, the displays segment held the majority share in 2020, holding more than one-third of the total market. The global positioning system segment, on the other hand, is anticipated to exhibit the fastest CAGR of 10.94% during the forecast period.

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Based on region, the market across North America held the lion' share in 2020, garnering nearly two-fifths of the total market. The Asia-Pacific region, on the other hand, is predicted to cite the fastest CAGR of 10.4% during the forecast period.

The key players of the market analyzed in the global situation awareness systems industry include BAE SYSTEMS, CNL Software Limited, D3 Security Management Systems, Inc, Denso Corporation, General Electric, Harris Corporation, Honeywell international Inc, Lockheed Martin Corporation, Microsoft Corporation, and Collins Aerospace.

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COVID-19 Scenario

● The outbreak of COVID-19 has had a positive impact on the growth of the global situational awareness systems market, owing to the occurrence of lockdowns in various countries across the globe. Lockdowns significantly increased the demand for situation awareness system (SAS) solutions as more and more end-users realized the importance and made effective use of IoT, digitalization, and artificial intelligence to appreciable integrate it with these systems.

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