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C4ISR Market Set to Grow at the Fastest Rate- Time to Grow your Revenue

12-08-2023 09:34 AM CET | Advertising, Media Consulting, Marketing Research

Press release from: MarketsandMarkets

C4ISR Market Set to Grow at the Fastest Rate- Time to Grow your

The C4ISR market is projected to grow from USD 113.4 Billion in 2022 to USD 154.0 Billion by 2028, at a CAGR of 5.2% during the forecast period The increased demand for carrying out surveillance activities along conflict areas, the rising defense expenditure of emerging economies, the increasing incidence of terror attacks, and the growing number of ongoing intercountry conflicts have led to the growth of the C4ISR market across the globe. Additionally, the increasing deployment of personnel and weapon systems in active war zones has resulted in a significant increase in the demand for C4ISR systems across the globe.

https://www.marketsandmarkets.com/Market-Reports/c4isr-market-1315.html

Based on platform, the airborne segment is projected to is to lead the market due to the increased use of communication satellites for fast and secure data transfer. In September 2020, the US Army's Tactical Exploitation of National Capabilities office, the Defense Innovation Unit, contracted Northrop Grumman to build two new prototype ground stations that will help the army use satellite imagery for deep sensing.

Based on application, the intelligence, surveillance, and reconnaissance segment is expected to lead due to technological advancements for mission-critical data. In September 2020, Lockheed Martin developed signals intelligence capabilities for the Distributed Common Ground System, the US Air Force's ISR system using agile development. In November 2020, L3Harris Technologies was awarded a firm-fixed-price contract to missionize three new King Air 350ER aircraft for the Canadian manned airborne intelligence, surveillance, and reconnaissance (CMAISR) project.

Based on solution, the hardware segment is expected to dominate the C4ISR market from 2022 to 2028. The increasing demand for sensors in next-generation airborne intelligence, surveillance, and reconnaissance systems, the need for 5G networks for faster wireless data transfer, the demand for wired communication devices underwater and subsurface military applications, the increasing demand for tactical navigation systems for unmanned platforms and for portable, rugged devices for dismounted soldiers, along with the increasing need for intelligence gathering will drive the market.

Based on Region, North America is expected to lead the C4ISR market in 2022, with the US being the largest market in the region. The increasing investments in C4ISR systems to enhance the defense and surveillance capabilities of the armed forces, the modernization of existing military platforms and critical infrastructure, as well as law enforcement agencies increasingly using C4ISR systems are key factors expected to drive the market in North America.

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Major players operating in the C4ISR market include Lockheed Martin Corporation (US), Raytheon Technologies Corporation (US), BAE Systems Inc. (UK), General Dynamics Corporation (US), and Northrop Grumman (US). These companies have reliable manufacturing facilities as well as strong distribution networks across key regions, such as North America, Europe, and Asia Pacific. They have an established portfolio of reputable products and services, a robust market presence, and strong business strategies. Furthermore, these companies have a significant market share, products with wider applications, broader geographical use cases, and a larger product footprint.

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