- Press Release -

A recently revamped Fact.MR report establishes that the global digital battlefield market is anticipated to surge at a CAGR of 14% from 2022-2032, reaching US$ 129.75 Bn by the end of the said forecast period. Mounting defense expenditures to contain external aggression using smart technology is leading to increased uptake.

From 2017 to 2021, the industry experienced an uptick at a CAGR of 10%. During the COVID-19 pandemic, sales prospects experienced a substantial decline, attributed to closure of international borders and the consequent reduction in the likelihood of warfare. However, constant surveillance activities kept market demand afloat.

Use of digital battlefields by 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.

Key Takeaways from the Market Study

• By installation, new procurement digital battlefields are likely to account for 50% revenue
• Space digital battlefield to experience a CAGR of over 16% through 2032
• Artificial Intelligence based digital battlefields to hold nearly 16% share in 2022
• Hardware based digital battlefield solutions to account for over 2 out of 5 sales
• North America to generate absolute dollar opportunity worth US$ 23.2 Bn
• China to account for nearly 13% of the global digital battlefield market
• Global digital battlefield market is expected to be valued at US$ 35 Bn in 2022

“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.

Competitive landscape

• The Spanish Navy awarded Lockheed Martin Corporation a contract worth more than USD 519 million in April 2020 for providing sensor and radar equipment using the Aegis Combat System (ACS). The ACS detects, tracks, and destroys targets and missiles using a combination of computer and radar systems.
• Raytheon Technologies Corporation was selected by the US Air Force in June 2020 to participate in an IDIQ contract worth more than USD 950 million to develop an Advanced Battle Management System (ABMS) to connect military platforms around the world. The ABMS is expected to transform the US Air Force's future battlespace.
• Elbit Systems Ltd. was awarded a USD 50 million contract to supply digital soldier systems to the Royal Netherlands Army in December 2020. The company will provide digital soldier systems and vehicular integration for improved combat network capabilities, including command and control systems, under this contract.

More Insights Available

Fact.MR, in its new offering, presents an unbiased analysis of the hyperspectral imaging market, presenting historical demand data (2017-2021) and forecast statistics from 2022 to 2032.

The study divulges essential insights on the market based on technology (artificial intelligence, 3D printing, internet of things, big data analytics, robotic process automation, cloud computing & master data management, digital twin, blockchain, AR & VR and 5G), application (warfare platforms, cybersecurity, logistics & transportation, surveillance & situational awareness, command & control, communication, health monitoring, simulation & training, design & manufacturing, predictive maintenance, threat monitoring, real-time fleet management and electronic warfare), platform (land digital battlefields, naval digital battlefields, airborne digital battlefields and space digital battlefields), installation (new procurement and upgrades) and solution (hardware, software and services) across seven regions (North America, Latin America, Europe, East Asia, South Asia, Oceania and MEA).

Fact.MR’s Domain Knowledge in Technology

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.

For more information, refer to our market research report or contact the PR author.

Santosh Kumar

Fact.MR

Sr. Consultant – ICT

E-mail: santosh@factmr.com