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Network Centric Warfare Market Overview, Size, Growth, Analysis, Top Key Players, Forecast To 2033
Network Centric Warfare Market Overview
As per the report, the network centric warfare market size has grown strongly in recent years. It will grow from $58.6 billion in 2023 to $61.76 billion in 2024 at a compound annual growth rate (CAGR) of 5.4%. The network centric warfare market size is expected to see steady growth in the next few years. It will grow to $74.04 billion in 2028 at a compound annual growth rate (CAGR) of 4.6%.
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Rising Military Expenditure And Its Impact On Network-Centric Warfare Market
Increasing military expenditure is expected to propel the growth of the network-centric warfare market going forward. Military expenditure is the amount spent on weapons, weapons systems, operations, maintenance, personnel, and other specific military equipment. Government spending on the military would support the development of various aspects of the military market including network-centric warfare. For instance, in December 2022, according to the European Defense Agency, a Europe-based defense agency, spent a record amount of $53.4 USD billion (€52 billion) on the purchase of defense equipment, a rise of 16% compared to 2020. Further, total European defense spending reached a new high of $228.6 USD billion (214 billion euros), up 6% from 2020 and continuing a seven-year trend of expansion. Therefore, increasing military expenditure is driving the network-centric warfare market.
Cutting-Edge Software-Defined Radio System Redefines Network-Centric Warfare
Technological advancements are a key trend gaining popularity in the network-centric warfare market. Major companies operating in the network-centric market are adopting new technologies to sustain their business in the market. For instance, in March 2023, Israel Aerospace Industries, an Israel-based aerospace and aviation manufacturer company launched SDR-NCO, a software-defined radio system with an innovative network centric operations (SDR-NCO) capability. This system provides communications across voice, video, and data. It allows aircrews to communicate with forces on land, in the air, and at sea for effective coordination across a variety of task groups since it is compatible with a wide range of modern military and commercial radios.
The network centric warfare market covered in this report is segmented -
1) By Architecture: Hardware, Software
2) By Mission Type: Tactical, Strategic
3) By Platform: Land-Based, Naval Based, Air Based, Unmanned
4) By Communication Network: Wired, Wireless
5) By Application: Intelligence, Surveillance, and Reconnaissance (ISR) Operations, Communications, Computers, Combat, Cyber, Command And Control, Electronic Warfare
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Major companies operating in the network centric warfare market report are Cisco Systems Inc., Lockheed Martin Corporation, BAE Systems PLC, Northrop Grumman Corporation, Thales Group, General Dynamics Corporation, Elbit Systems Ltd., L-3 Communications Holdings Inc., Airbus Group N.V., Harris Corporation, Rockwell Collins Inc., Scalable Network Technologies Inc., Lumen Technologies Inc., RAND Corporation, Raytheon Technologies Corporation, L3Harris Technologies Inc., Leonardo S.p.A., Svenska Aeroplan Aktiebolaget, Rheinmetall AG, The Boeing Company, Honeywell International Inc., Cubic Corporation, Kratos Defense & Security Solutions Inc., CACI International Inc., Leidos Holdings Inc., Booz Allen Hamilton Holding Corporation, Science Applications International Corporation (SAIC), ManTech International Corporation, Engility Holdings Inc., Viasat Inc., Mercury Systems Inc., Ultra Electronics Holdings plc, QinetiQ Group plc, Cobham plc
Contents of the report:
1. Executive Summary
2. Network Centric Warfare Market Report Structure
3. Network Centric Warfare Market Trends And Strategies
4. Network Centric Warfare Market - Macro Economic Scenario
5. Network Centric Warfare Market Size And Growth
…..
27. Network Centric Warfare Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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