Defense Geospatial Market 2024 : Why You Should Invest In This Market ?

Allied Market Research published a report, titled, "Defense Geospatial System Market by technology (Geographic Information System, Global Positioning System, and Remote Sensing), by type (Surface Analysis, Network Analysis, and Geo Visualization), by application (Military Logistics, Intelligence Gathering, and Battlefield management): Global Opportunity Analysis and Industry Forecast, 2023-2032".

According to the report, the global defense geospatial system market was valued at $126.4 billion in 2022, and is projected to reach $367.40 billion by 2032, registering a CAGR of 11.4% from 2023 to 2032.

𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐚𝐠𝐞𝐬 - https://www.alliedmarketresearch.com/request-sample/14264

Geospatial technology is increasingly important in national security issues, as individuals working in the defense sector can benefit from data exchange. As social media and other platforms create massive amounts of data every second, government agencies may now utilize GIS as a tool to evaluate data and generate meaningful insights. Defense intelligence employs geographic information systems (GIS) to track important data on hotspots and establish preventive actions for future risks to national security and public safety.

Prime determinants of growth

The global defense geospatial system Market is driven by factors such as demand of reconnaissance, and surveillance, and Integration with other systems. However, high cost and lack of accessibility, and concern of data privacy and protection are hampering the growth of the defense geospatial system Market. On the contrary, AI combined with geospatial system, and use of AR and VR in defense Geospatial system is expected to offer remunerative opportunities for the expansion of the defense geospatial system market during the forecast period.

Impact of Russia-Ukraine war

Many geospatial system providers offered their services to the Ukraine in the Russia-Ukraine war. For instance, on March 1, 2022, Ukraine's Ministry of Digital Transformation requested synthetic-aperture radar (SAR) data from worldwide remote sensing enterprises and organizations to support the Ukrainian Armed Forces. SAR technology is a type of earth observation (EO) data that is very important in wartime since it can penetrate cloud cover and give imagery in a variety of weather conditions. The demand from Ukraine helps the technology to market itself in the defense geospatial market.

The pandemic led to increase demand for defense geospatial system market, as most of the European countries are looking to enhance their geospatial system due to the Russia-Ukraine war.

𝐏𝐫𝐨𝐜𝐮𝐫𝐞 𝐂𝐨𝐦𝐩𝐥𝐞𝐭𝐞 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭 𝐍𝐨𝐰 - https://www.alliedmarketresearch.com/defense-geospatial-market/purchase-options

The Remote Sensing segment to maintain its leadership status throughout the forecast period

Based on technology, the remote sensing segment held the highest market share in 2022, accounting for nearly two-fifths of the global defense geospatial system market revenue and is estimated to maintain its leadership status throughout the forecast period.

Remote sensing plays a vital role in defense geospatial applications since they are used for variety of operations including surveillance and reconnaissance. There are several market developments, as well as emerging technologies developed by manufacturers and brought to modern geospatial systems. However, the global positioning system (GPS) segment would cite the fastest CAGR of 12.2% from 2023 to 2032.

The surface analysis segment to maintain its leadership status throughout the forecast period

Based on type, the surface analysis segment held the highest market share in 2022, accounting for more than two-fifths of the global defense geospatial system market revenue and is estimated to maintain its leadership status throughout the forecast period.

Geospatial surface analysis assists military forces in assessing the terrain, comprehending the physical environment, and making strategic and tactical decisions. It is also used to map the underwater surface, as in July 2022. Such developments have been creating opportunities for the private players operating in the defense geospatial system market. The network analysis segment, on the other hand, is estimated to showcase the notable CAGR of12.8% during the forecast period.

The intelligence gathering segment to maintain its leadership status throughout the forecast period

Based on application, the intelligence gathering segment held the highest market share in 2022, accounting for nearly two-fifths of the global defense geospatial system market revenue and is estimated to maintain its leadership status throughout the forecast period. The same segment is projected to cite the fastest CAGR of 12.0% from 2023 to 2032. Various countries have dedicated surveillance and intelligence collection services.

The National Geospatial-Intelligence Agency (NGA) and the National Reconnaissance Office (NRO), for example, are two departments that support US intelligence. NGO collects and analyses geospatial information before disseminating it to other government agencies such as the military forces and law enforcement, whereas NRO gets essential information using satellites and meets its primary aim of acquiring imagery. NRO supports the US intelligence services in carrying out activities.

North America held the highest market share in 2022

Based on region, North America held the highest market share in terms of revenue in 2022, accounting for more than one-third of the global defense geospatial system market revenue, however LAMEA region and is estimated to gain market domination in the forecasting period with growing CAGR of 13.2%. The domination of North America region is due to the presence of major geospatial companies in the region.

Whereas in LAMEA region defense geospatial technology is widely used in military planning, surveillance, and information gathering. One of the prime examples is Israel's IDF or Israel defense forces which utilizes IDF collects data using signal intelligence, geographical intelligence, and visual intelligence among the others.

Leading Market Players: -
Airbus
BlackSky
NV5 Global, Inc.
Hexagon AB
Environmental Systems Research Institute, Inc. (ESRI)
Trimble Inc.
Maxar Technologies ON Semiconductors
MapLarge
Orbital Insight
TerraGo

𝐈𝐧𝐭𝐞𝐫𝐞𝐬𝐭𝐞𝐝 𝐭𝐨 𝐏𝐫𝐨𝐜𝐮𝐫𝐞 𝐭𝐡𝐞 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭? 𝐈𝐧𝐪𝐮𝐢𝐫𝐞 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠 - https://www.alliedmarketresearch.com/purchase-enquiry/14264

The report provides a detailed analysis of these key players of the global defense geospatial system market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.

𝐊𝐧𝐨𝐰 𝐌𝐨𝐫𝐞 https://www.alliedmarketresearch.com/defense-geospatial-market-A13895

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