Combat Management System Global Market Report 2024 by The Business Research Company | Raytheon Technologies Corporation, Lockheed Martin Corporation, IBM Corporation, General Dynamics Corporation, Northrop Grumman Corporation, Honeywell International Inc.

The combat management system market size has grown strongly in recent years. It will grow from $15.73 billion in 2023 to $16.73 billion in 2024 at a compound annual growth rate (CAGR) of 8.7%. The growth in the historic period can be attributed to demand for enhanced maritime surveillance and reconnaissance, demand for integrated air defense systems, expansion of naval capabilities in emerging economies, and need for improved command and control capabilities.

The combat management system market size is expected to see strong growth in the next few years. It will grow to $23.67 billion in 2028 at a compound annual growth rate (CAGR) of 9.1%. The growth in the forecast period can be attributed to increasing defense budgets, maritime security threats, rising demand for naval vessels, and focus on maritime domain awareness. Major trends in the forecast period include integration of artificial intelligence, cloud-based solutions, mobile combat management system solutions, human-machine teaming, and integration of unmanned systems.

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Combat Management System Market Major Segments
The combat management system market covered in this report is segmented -

1) By Component: Software, Hardware
2) By Sub-System: Self Defense Management System, Situational Awareness System, Track Management System, Weapon Management System, Display System, Identification System, Unmanned Vehicle Control System
3) By Platform: Principle Surface Combat, Submarine, Amphibious Ships, Fast Attack Craft And Petrol Boats And Crafts, Other Platforms

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The rising maritime security threats are expected to propel the growth of the combat management system market going forward. Maritime security threats refer to a range of risks and challenges that threaten the safety and stability of marine activities. Maritime security threats are increasing due to globalization, geopolitical tensions, terrorism, and weak governance, posing global risks to vessels, ports, and maritime infrastructure. Combat management systems enhance maritime security by providing real-time situational awareness, facilitating threat assessment, protecting forces, and enabling mission flexibility for naval operations. For instance, according to the ICC International Maritime Bureau's (IMB) annual piracy report (2022) by the International Chamber of Commerce (ICC), a France-based global business organization that promotes international trade, responsible business conduct, and a global approach to regulation, total of 115 incidents of piracy and armed robbery against ships in 2022, where 95% of the reported incidents involved successful boarding of the vessels by perpetrators with half of them occurring in Southeast Asian waters, particularly in the Singapore Straits, where incidents continue to rise and have reached a seven-year high in 2022. Therefore, the rising maritime security threats are driving the growth of the combat management system market.

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Prominent Trend - Diversification Of Combat Management System Offerings Through Alliances

Major companies operating in the combat management system market focus on diversifying their technological advancements through strategic alliances to enhance their market presence and cater to broader consumer needs. Strategic alliances are the collaborative efforts between companies or organizations to leverage each other's technological expertise, resources, and capabilities to develop and implement innovative technologies. For instance, in March 2024, Naval Group, a France-based defense industry company, partnered with Marakeb Technologies, a UAE-based manufacturer of outdoor and marine navigation electronics, to develop the national combat management system (NCMS) for the UAE Navy as part of ongoing efforts to enhance the UAE's defense and security industries, support sector growth, and provide national defense solutions capable of meeting future needs. This collaboration involves an extensive transfer of technology and know-how from the Naval Group to empower the UAE's defense capabilities and strengthen its position in the maritime domain. The NCMS project aims to provide sovereign advantages to the UAE Navy by offering control, customization, and system updates tailored to the Navy's requirements, thereby contributing to the advancement of UAE defense-industrial capabilities.

Combat Management System Market Players
Major companies operating in the combat management system market are Raytheon Technologies Corporation, Lockheed Martin Corporation, IBM Corporation, General Dynamics Corporation, Northrop Grumman Corporation, Honeywell International Inc. , Mitsubishi Heavy Industries Ltd., BAE Systems PLC, Thales Group, L3Harris Technologies Inc., Hanwha Corporation, Rheinmetall AG, Elbit Systems Ltd., Rockwell Collins Inc., Israel Aerospace Industries Ltd, Naval Group, Saab AB, Indra Sistemas, Kongsberg Gruppen, Cobham plc, Bharat Electronics Limited (BEL), QinetiQ Group plc, Cubic Corporation, ATLAS ELEKTRONIK GmbH, Terma A/S

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Largest And Fastest Growing Region In The Market
North America was the largest region in the combat management system market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the combat management system market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The Table Of Content For The Market Report Include:
1. Executive Summary
2. Combat Management System Market Report Structure
3. Combat Management System Market Trends And Strategies
4. Combat Management System Market - Macro Economic Scenario
5. Combat Management System Market Size And Growth
…..
27. Combat Management System Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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