Military Sensors Market worth $33.2 billion by 2024
Added: (Fri Jul 12 2019)
Pressbox (Press Release) -
The report "Military Sensors Market by Application (Intelligence & Reconnaissance, Communication & Navigation, Combat Operations, Electronic Warfare, Target Recognition, Command and Control, Surveillance), Platform, Component, Region - Global Forecast to 2025", is projected to grow from USD 24.7 billion in 2019 to USD 33.2 billion by 2025, at a CAGR of 5.1% from 2019 to 2025. The growth of the military sensors market can be attributed to the ongoing military modernization programs and rising demand for unmanned vehicles from defense forces of different countries across the globe.
View detailed Table of Content here - https://www.marketsandmarkets.com/Market-Reports/military-sensor-market-267608019.html
Based on application, the surveillance & monitoring segment is projected to lead the military sensors market from 2019 to 2025. Countries such as China, India, Japan, and Indonesia are procuring aircraft and UAVs for surveillance activities. Increasing procurement of military systems for surveillance activities is expected to drive the growth of the surveillance & monitoring segment of the military sensors market.
Based on component, the hardware segment is projected to lead during the forecast period. Due to the development of the Internet of Things (IoT) and Micro-electromechanical system (MEMS) sensors, countries are upgrading their existing platforms with different types of sensors. The increasing demand and deployment of sophisticated sensors for surveillance & monitoring and electronic warfare applications are expected to drive the growth of the sensors segment of the market.
The military sensors market in the North American region is expected to witness substantial growth during the forecast period, owing to increasing procurement of defense systems and ongoing military modernization programs. According to the article titled Defense Modernization Plans Through the 2020s published by Center for Strategic & International Studies in 2016, the US is expected to invest increasingly in the procurement of aircraft by 2030, thereby leading to the growth of the military sensors market in the North American region.
Major players in the military sensors market are Honeywell International Inc. (US), TE Connectivity Ltd. (US), Thales Group (France), Curtiss-Wright Corporation (US), Raytheon Company (US), Esterline Technologies Corporation (US), Kongsberg Gruppen ASA (Norway), and BAE Systems plc (UK), among others.
Don’t miss out on business opportunities in Military Sensors Market. Speak to our analyst and gain crucial industry insights that will help your business grow.
About MarketsandMarkets™
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
Contact:
Mr. Shelly Singh
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
sales@marketsandmarkets.com