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Combat Management System Market Size, Share Analysis, Industry Report By 2033
Combat Management System Market Size
According to The Business Research Company's, 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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Market Drivers and Trends:
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.
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.
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Major Key Players of the Market:
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
Combat Management System Market 2024 Key Insights:
• 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%.
• Impact Of Rising Maritime Security Threats On Combat Management Systems Market Growth
• Diversification Of Combat Management System Offerings Through Alliances
• North America was the largest region in the combat management system market in 2023
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