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Battlefield Management System Market Archiving Market Forecast Report 2024-2033 | Share, Overview, Outlook
Battlefield Management System Market
As per the report, the battlefield management system market size has grown strongly in recent years. It will grow from $15.37 billion in 2023 to $16.88 billion in 2024 at a compound annual growth rate (CAGR) of 9.9%. The battlefield management system market size is expected to see strong growth in the next few years. It will grow to $23.68 billion in 2028 at a compound annual growth rate (CAGR) of 8.8%.
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Increased Military Spending Propels Growth Of Battlefield Management System Market
The growth in military spending (consisting of the army, navy, and air force) is expected to propel the growth of the battlefield management system market. A military expenditure plan, also known as a nation's defense budget, is the number of financial resources committed to the maintenance of an armed force or various defense strategies. In recent years, a rise in military spending and regional tensions among various countries has led to an increase in military spending, research and development, and procurement of advanced military equipment such as battlefield management systems. For instance, in April 2023, according to Stockholm International Peace Research Institute, a Sweden-based international organization, in 2022, the total amount spent on military spending worldwide climbed by 3.7% in real terms, hitting a record $2240 billion. Therefore, a rise in military spending drives the growth of battlefield management system market .
Strategic Collaborations Reshape Battlefield Management System Market Landscape
Strategic collaborations between companies are a key trend gaining popularity in the battlefield management system market. Companies manufacturing battlefield management systems are undergoing partnerships and collaboration with other competing companies and government defense organizations, as well as developing new technologies and products. For instance, in December 2021, Leonardo SPA, an Italian aerospace company operating in aerospace, defense, and security, extended its partnership for 5 years with 2Excel Aviation, a UK-based aerospace services company for flight trials services. Leonardo aims to test and display how its radar and electronic warfare systems perform in flight for development works and customer demonstrations.
The battlefield management system market covered in this report is segmented -
1) By Components: Wireless Communication Devices, Imaging Devices, Computer Software, Tracking Devices, Wired Communication Devices, Computer Hardware Devices, Night Vision Devices, Display Devices, Identification Friend or Foe (IFF)
2) By Type: Dismounted Soldier Systems, Commander Systems, Communication Network Systems
3) By System: Computing, Communication and Networking, Command and Control, Navigation, Imaging, and Mapping
4) By Platform: Armoured Vehicles, Headquarter and Command Centers, Soldier Systems
5) By Application: Air Force, Army, Navy
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Major companies operating in the battlefield management system market include Rolta India Limited, Leonardo S.p.A., Atos SE, Elbit Systems Ltd., Thales Group, Rheinmetall AG, BAE Systems plc, Saab AB, Aselsan Elektronik Sanayi ve Ticaret A.S., L3Harris Technologies Inc., Cobham Limited, Raytheon Company ., Lockheed Martin Corporation, Northrop Grumman Corporation, RUAG Group ., Indra Sistemas S.A., General Dynamics Corporation, Collins Aerospace., Rockwell Collins Inc., Safran S.A., Cubic Corporation, Ultra Electronics Holdings PLC, Systematic A/S, Viasat Inc., L3Harris Technologies Inc., General Atomics Aeronautical Systems Inc., Kongsberg Gruppen ASA, QinetiQ Group plc
Contents of the report:
1. Executive Summary
2. Battlefield Management System Market Report Structure
3. Battlefield Management System Market Trends And Strategies
4. Battlefield Management System Market - Macro Economic Scenario
5. Battlefield Management System Market Size And Growth
…..
27. Battlefield 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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