Apr 26, 2021
Significant Expenditure on Digitization of Military and Defence Systems to Augment Digital Battlefield Market Revenue, Evaluates Fact.MR
by Team Fact.MR
There has been noticeable transformation in computing, communication, and display technologies across all sectors in the past decade and a half. 21st century battlefield challenges have necessitated the use of mechanisms such as real-time situation awareness, which is being met by digital battlefield technologies. Use of digital battlefields inby armies has lowered down operational cost and time, whereas, soldiers have experienced higher survivability. Military equipment buyers and decision-makers are now more informed and their work is more streamlined with digital battlefield technologies. Military research & development has further become more scalable and time-bound, and overall process innovation is observed to be synchronized.
As per a new report published by Fact.MR, the global digital battlefield market is anticipated to exceed a valuation of US$ 35 Bn by 2021, and is expected to expand at an impressive CAGR of around 14% over the forecast period of 2021 to 2031.
Key Takeaways from Market Study
- In 2020, North America accounted for around39% revenue share of the global market.
- The market in East Asia, South Asia, and the Middle East and Africa is estimated to grow over 6-foldby 2031.
- In 2020, the hardware segment accounted for over 46% of global market revenue.
- Among the technologies, artificial intelligence is expected to hold nearly 16% market share in 2021.
- Airborne digital battlefieldplatformscontributed nearly half of digital battlefield revenue.
- The market is moderately concentrated, where companies such as BAE Systems, Northrop Grumman, Raytheon Technologies, Lockheed Martin, and Thales Group account fora majorityof the market share.
“Ease of integration of digital battlefields into existing military and defence frameworks is expected to be pivotal for winning orders and contracts,” says a Fact.MR analyst.
Customizations in digital battlefieldsare expected to garner significant traction in the years to come. Geographical information systems (GIS) and related technologies can play an important role in capturing battlespace situations through images, which will surge the market for digital battlefields in future.
More Valuable Insights
Fact.MR, in its new offering, presents an unbiased analysis of the global digital battlefield market, presenting historical demand data (2016-2020) and forecast statistics for the period of 2021-2031. The study reveals essential insights on the basis oftechnology (artificial intelligence, 3D printing, internet of things, big data analytics, robotic process automation, cloud computing & master data management, digital twins, blockchain, AR and VR, and 5G), Solution (hardware - communication devices, wearable devices, smart clothing, exoskeleton, smart helmets, imaging devices, display devices, tracking devices, computer hardware devices, data distribution units, night vision devices, RFID, others, Software - command & control software, military situational awareness, security management, inventory management, fleet management, weapon integration, others, services - deployment & integration, upgrade & maintenance, software support, others), application (warfare platform, cyber security, logistics & transportation, surveillance & situational awareness, command & control, communication, health monitoring, simulation & training, combat simulation and training, command and control training, design and manufacturing, predictive maintenance, threat monitoring, real-time fleet management, electronic warfare, others), platform (land - military fighting vehicles, unmanned ground vehicles, weapon systems, headquarters and command centers, dismounted soldier systems, naval - naval ships, submarines, unmanned maritime vehicles, airborne - combat aircraft, helicopters, special mission aircraft, unmanned aerial vehicles, space – cubesat, and satellites), installation (new procurement, upgrades), across seven major regions of the world (North America, Latin America, Europe, MEA, East Asia, South Asia, and Oceania).
Fact.MR’s Domain Knowledge in ICT
Our ICT consulting team guides organizations at each step of their business strategy by helping you understand how the latest influencers account for operational and strategic transformation in the ICT sector. Our expertise in recognizing the challenges and trends impacting the global ICT industry provides indispensable insights and support – encasing a strategic perspective that helps you identify critical issues and devise appropriate solutions.
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Sr. Consultant - ICT
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