Military Embedded Systems Market Trends, Surging Demand, Detailed Analysis, And Forecast To 2033

The Business Research Company recently released a comprehensive report on the Global Military Embedded Systems Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

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According to The Business Research Company's, The military embedded systems market size has grown strongly in recent years. It will grow from $1.62 billion in 2023 to $1.78 billion in 2024 at a compound annual growth rate (CAGR) of 9.9%. The growth in the historic period can be attributed to advancements in microelectronics, global security challenges, demand for real-time data processing, cybersecurity concerns, evolution of unmanned systems.

The military embedded systems market size is expected to see strong growth in the next few years. It will grow to $2.56 billion in 2028 at a compound annual growth rate (CAGR) of 9.5%. The growth in the forecast period can be attributed to interoperability in joint operations, enhanced cyber resilience, focus on energy efficiency, application in space-based systems, use in hypersonic weapon systems, global military modernization initiatives. Major trends in the forecast period include rapid advancements in processing power, increased use of high-performance computing (hpc), focus on size, weight, and power (swap) optimization, integration of artificial intelligence (ai) and machine learning (ml), use of open architecture standards, multi-domain operations capability.

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Market Drivers and Trends:

Growing defense spending is expected to propel the growth of the military embedded systems market going forward. Defense spending refers to the amount of financial resources dedicated by a state to raising and maintaining an armed force or other methods essential for defense purposes. Governments place a high priority on modernizing military and defense hardware, which has greatly expanded the global supply of unmanned applications and the market opportunity for military embedded systems. For instance, in April 2023, according to the Stockholm International Peace Research Institute, a Sweden-based institute and independent resource on global security, world military expenditure increased by 3.7% in real terms in 2022 to reach a record high of $2,240 billion. Military expenditure in Europe rose by 13% during the year. US military spending also increased by 8.8% in nominal terms between 2021 and 2022, but real spending increased by 0.7% over that same time due to an 8.1% inflation rate. Therefore, growing defense spending is driving the growth of the military embedded systems market.

Product innovations have emerged as the key trend gaining popularity in the military embedded systems market. Major companies operating in the military embedded system market are focused on developing new products to meet customer demand. For instance, in June 2023, Pratt & Whitney, a US-based aerospace company, launched the Percept, an AI-based aircraft engine inspection tool. It is a new advanced aircraft engine monitoring tool that incorporates artificial intelligence that can provide maintenance personnel with real-time information on parts availability. Percept, a military embedded system, is a multi-sensor AI platform that provides real-time situational awareness and decision support for military operations. Users of the cloud-based computing system can record and take pictures of aircraft engines using a mobile device and instantly get comprehensive information about the parts' availability. Percept can make it possible for leased engines to be returned more quickly and affordably. Percept automates engine inspections, saving an inspector time by 90% by eliminating the need for an inspector to dissect and verify each component of the engine one by one.

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Major Key Players of the Market:

Xilinx Inc., Mercury Systems Inc., Curtiss-Wright Corporation, Kontron (S&T), SMART Embedded Computing, Advantech Co Ltd., Thales Group, Abaco Systems, Microsemi Corporation, General Micro Systems Inc., BAE Systems, Intel Corporation, Radisys Corporation, Telephonics Corporation, General Dynamics Corporation, Raytheon Company, Rockwell Collins, AMETEK, Apple Inc., Saab AB, Boeing, Concurrent Technologies, Crystal Group Inc., Elma Electronic Inc., Excalibur Systems, Northrop Grumman Corporation, ECRIN Systems, Harris Corporation, Honeywell International Inc., IBM Corporation

Military Embedded Systems Market 2024 Key Insights:

• The military embedded systems market size is expected to see strong growth in the next few years. It will grow to $2.56 billion in 2028 at a compound annual growth rate (CAGR) of 9.5%.
• Global Terrorism Propels Demand For Military Embedded Systems
• AI-Based Military Embedded System For Aircraft Engine Inspection
• North America was the largest region in the military embedded systems market in 2023

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