Press release
Digital Battlefield Market Analysis 2024 -2033: Forecasted Market Size, Top Segments, And Largest Region | BAE Systems plc, Northrop Grumman Corporation, Raytheon Technologies Corporation, Lockheed Martin Corporation
Digital Battlefield Market Size
The Business Research Company offers in-depth market insights through Digital Battlefield Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The digital battlefield market size has grown rapidly in recent years. It will grow from $51.3 billion in 2023 to $60.96 billion in 2024 at a compound annual growth rate (CAGR) of 18.8%. The growth in the historic period can be attributed to growth of modern warfare and security threats, communication and data sharing needs, intelligence and surveillance requirements, cybersecurity concerns, and defense budget allocations.
The digital battlefield market size is expected to see rapid growth in the next few years. It will grow to $122.16 billion in 2028 at a compound annual growth rate (CAGR) of 19.0%. The growth in the forecast period can be attributed to geopolitical tensions, multi-domain operations, enhanced cyber resilience, sensor fusion and situational awareness, and increasing military modernization programs
. Major trends in the forecast period include artificial intelligence (ai) and machine learning, 5g and advanced connectivity, unmanned systems and drones, hypersonic weapons development, and adaptive defense strategies .
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Market Segmentation:
The main types of solutions in the digital battlefield markets are hardware, software, and services. Hardware in the digital battlefield market refers to the machinery and equipment used by the armed forces, such as all weapon systems, weapon platforms, vehicles, tanks, aircraft, and missiles. The various technologies are artificial intelligence, 3D printing, internet of things, big data analytics, robotic process automation, cloud computing and master data management, digital twin, blockchain, AR, VR, and 5G, which are installed through new procurement and upgradation. Different technologies include artificial intelligence, 3d printing, internet of things, big data analytics, robotic process automation, cloud computing, master data management, digital twin, and others that involve various installations such as new procurement, upgradation. The different platforms include land, naval, airborne, and space and involve several applications such as warfare platforms, cyber security, logistics and transportation, surveillance and situational awareness, command and control, health monitoring, design and manufacturing, and others.
Major Driver - Increasing Adoption Of Cloud Services In Military And Defense Drives Digital Battlefield Market Growth
Increasing inclination towards cloud services in military and defense is expected to propel the growth of the digital battlefield market going forward. Cloud services are network-based virtualized resources designed to offer quick, inexpensive access to applications without requiring internal hardware or infrastructure, and they offer advantages such as a flexible and secure cloud environment, highly redundant networking, and many others. Cloud services in the military and defense are used to gather, process, and analyze intelligence resource data and provide security for battlefield intelligence. For instance, according to the United States Department of Defense (DOD), a branch of the US government responsible for the nation's defense, in 2022 the department of defense allocated $ 798 million to the US army to spend on cloud services in the fiscal year 2022. Also, in June 2021, the total US defense information technology and cyberspace activities budget overview for the fiscal year 2022 reached $ 83,091.3 million. Therefore, an increasing inclination toward cloud services in the military and defense is driving the growth of the digital battlefield market.
Competitive Landscape:
Major companies operating in the digital battlefield market include BAE Systems plc, Northrop Grumman Corporation, Raytheon Technologies Corporation, Lockheed Martin Corporation, Thales Group, L3Harris Technologies Inc., Elbit Systems Ltd., General Dynamics Corporation, Leonardo S.P.A, Israel Aerospace Industries, Saab AB, ATOS SE, Airbus S.A.S., Rheinmetall AG, Honeywell Aerospace, Pratt & Whitney, Rolls-Royce Holdings plc, Safran S.A., Spirit AeroSystems Inc., Triumph Group Inc., United Technologies Corporation, International Business Machines Corporation, Microsoft Corporation, Amazon Web Services Inc., Google LLC, Oracle Corporation, Cisco Systems Inc., Dell Technologies Inc., Hewlett Packard Enterprise Development LP, Intel Corporation, Advanced Micro Devices Inc., Samsung Electronics Co. Ltd., Huawei Technologies Co. Ltd., Ericsson AB, Nokia Corporation, Collins Aerospace
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Top Trend - Cutting-Edge Technology Drives Evolution In The Digital Battlefield Market
Technological advancements have emerged as a key trend gaining popularity in the digital battlefield market. Major players operating in the digital battlefield sector are focused on implementing advanced technologies to expand their market share. For instance, in June 2022, L3Harris Technologies Inc., a US-based aerospace and defense company, launched an infrared instrument integrated with infrared space technology to capture high-resolution imagery and battlefield information from space. The benefit of the device is that it can track a target of interest continuously, along with sensitivity and target discrimination, at a lower cost. It is part of a wide-field-of-view satellite that will also help to inform future space-based missile defense missions and designs.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Digital Battlefield Market Characteristics
3. Digital Battlefield Market Trends And Strategies
4. Digital Battlefield Market - Macro Economic Scenario
5. Digital Battlefield Market Size And Growth
…..
27. Digital Battlefield Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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