Press release
Increased Defense Expenditure In Emerging Economies On Driving Growth In The Military Sensors Market Driver: A Major Catalyst in the Evolution of the Military Sensors Market in 2025
Military Sensors Global Market Size
The military sensors market is experiencing substantial growth due to increased defense spending from emerging economies. The term military spending refers to the funds a country allocates towards maintaining and equipping its armed forces and other defense-related activities. This includes the operational expenses, maintenance, the procurement of weaponry and armored vehicles, as well as investment in military research and development. These funds are used to purchase a range of goods and services such as arms, sensors, and to conduct military research, all of which spur the demand for military sensors. For example, in April 2024, the Stockholm International Peace Research Institute (SIPRI), an independent research organization based in Sweden, reported that global military expenditure reached $2443 billion in 2023, marking a real-term increase of 6.8% from the previous year, 2022. As a result, it is the increasing defense budgets of emerging economies that are fueling the advancement of the military sensors market.
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How will the growth rate of the military sensors market shape industry trends by 2034?
In recent times, there has been a significant expansion in the size of the military sensors market. It is projected that it will inflate from $10.74 billion in 2024, reaching $11.46 billion by 2025, showing a compound annual growth rate (CAGR) of 6.7%. This amount of growth in the preceding period can be credited to regulatory shifts and standards, the implementation of unmanned platforms, joint ventures and partnerships within industries, an emphasis on situational awareness, and government-driven initiatives and contracts.
In the upcoming years, a significant surge is anticipated in the military sensors market size, with expectations to rise to "$14.65 billion by 2029, showing a compound annual growth rate (CAGR) of 6.3%. Factors such as miniaturization and low-powered designs, global geopolitical unrest, an increase in unmanned systems, the integration of ai and machine learning, and a rising demand for ISR capabilities contribute to the growth predicted for the forecast period. The period is also likely to see major trends like heightened attention to cybersecurity, the invention of multi-purpose sensors, miniaturization, and lightweight designs, prioritizing hyperspectral and multi-spectral sensors as well as interoperability and sensor networking.
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What trends are poised to drive the future success of the military sensors market?
Prominent organizations in the military sensor market are prioritizing the establishment of strategic alliances to secure a competitive advantage in the market. Such alliances are pivotal in addressing the ever-changing needs of contemporary military operations. For example, in September 2024, Oracle, an American technology firm, formed an alliance with Rafael Advanced Defense Systems, a defense technology firm based in Israel. The objective behind this partnership was to augment the capabilities of the U.S. military by employing cloud-based artificial intelligence (AI) solutions. The synergy consists of incorporating Rafael's superior systems, particularly IMILITE and FIRE WEAVER, into Oracle's Cloud Infrastructure (OCI) with the aim of accentuating decision-making in critical battlefield situations. This alliance will enable the U.S. military to utilize Rafael's AI-fueled imagery intelligence and sensor-to-shooter systems - instrumental for speedy and insightful decision-making during operations.
Which primary segments of the military sensors market are driving growth and industry transformations?
The military sensors market covered in this report is segmented -
1) By Component: Software, Hardware
2) By Platform: Airborne, Land, Naval
3) By Application: Intelligence, Surveillance, And Reconnaissance (ISR), Communication And Navigation, Target Recognition, Electronic Warfare, Command And Control, Other Applications
Subsegments:
1) By Software: Data Analysis Software, Sensor Fusion Software, Monitoring And Control Software, Simulation Software, Operating Systems for Sensors
2) By Hardware: Radar Sensors, Infrared Sensors, Acoustic Sensors, Electro-Optical Sensors, Chemical Sensors, Pressure Sensors, Temperature Sensors, Motion Sensors
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Which geographical regions are pioneering growth in the military sensors market?
North America was the largest region in the military sensors market in 2024. The regions covered in the military sensors market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Who are the influential players reshaping the military sensors market landscape?
Major companies operating in the military sensors market include BAE Systems PLC, Curtiss-Wright Corporation, Esterline Technologies Corporation, Honeywell International Inc., Lockheed Martin Corporation, Raytheon Technologies Corporation, TE Connectivity Ltd., Thales Group, General Electric Company, Imperx Inc., Microflown AVISA BV, Vectornav Technologies LLC, Rock West Solutions Inc., KONGSBERG GRUPPEN ASA, Ultra Electronics, Aerosonic LLC, Viooa Imaging Technology Inc., Northrop Grumman Corporation, L3Harris Technologies Inc., Safran Electronics & Defense, Leonardo S.p.A., Rheinmetall AG, Elbit Systems Ltd., FLIR Systems Inc., Collins Aerospace, Cobham plc, Moog Inc., Meggitt PLC, QinetiQ Group plc, Terma A/S, ASELSAN A.S., RADA Electronic Industries Ltd., Israel Aerospace Industries Ltd., Rafael Advanced Defense Systems Ltd., Bharat Electronics Limited, Hindustan Aeronautics Limited
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What Is Covered In The Military Sensors Global Market Report?
• Market Size Forecast: Examine the military sensors market size across key regions, countries, product categories, and applications.
• Segmentation Insights: Identify and classify subsegments within the military sensors market for a structured understanding.
• Key Players Overview: Analyze major players in the military sensors market, including their market value, share, and competitive positioning.
• Growth Trends Exploration: Assess individual growth patterns and future opportunities in the military sensors market.
• Segment Contributions: Evaluate how different segments drive overall growth in the military sensors market.
• Growth Factors: Highlight key drivers and opportunities influencing the expansion of the military sensors market.
• Industry Challenges: Identify potential risks and obstacles affecting the military sensors market.
• Competitive Landscape: Review strategic developments in the military sensors market, including expansions, agreements, and new product launches.
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