Market Research Report
Global Combat Management System Market Size study, by Sub-system, by Component, by Platform and Regional Forecasts 2021-2027
|Global Combat Management System Market Size study, by Sub-system, by Component, by Platform and Regional Forecasts 2021-2027|
Published: September 7, 2021
Bizwit Research & Consulting LLP
Delivery time: 2-3 business days
Global Combat Management System Market is valued approximately at USD 343.23 Million in 2020 and is anticipated to grow with a healthy growth rate of more than 3.57% over the forecast period 2021-2027. Combat management system is the system, which is able to connect with sensors of ship, weapons, data links and support the combat tasks. The global Combat Management System market is being driven by increase in military spending which supports the advanced technology adoption by the forces. For instance, according to the Stockholm International Peace Research Institute, there has been increase in military expenditure from USD 1.82 Trillion in 2018 to USD 1.98 Trillion in 2020. The other driving factor for the market growth is the continuous induction of systems by the forces to protect their aircrafts, vessels, ships & others. For instance, in 2019, Indian Navy installed a new combat management system in INS Vikrant, the system is developed by the Tata Power Strategic Engineering Division. Furthermore, high use of research & development activities in the technological advancements, developing defense industry and increasing focus on military modernization will provide new opportunities for the global Combat Management System industry. However, high cost related to implementation of system and lack of investments by the companies may impede market growth over the forecast period of 2021-2027.
The regional analysis is based on the key regions such as Asia Pacific, North America, Europe, Latin America, and Rest of the World for the global Combat Management System Market. Asia-Pacific is the leading region across the world in terms of market share and is also anticipated to exhibit the highest CAGR over the forecast period 2021-2027 due to presence of large navy vessels & ships, increasing investments by the private companies, increasing military spending by government, rising border conflicts and adoption of the advanced technologies.
Major market player included in this report are:
Lockheed Martin Corporation
Raytheon Technologies Corporation
Northrop Grumman Corporation
Elbit Systems Ltd.
Tata Advanced Systems Limited
Bharat Electronics Limited (BEL)
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
Self-defense Management System
Situational Awareness System
Track Management System
Weapon Management System
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year - 2018, 2019
Base year - 2020
Forecast period - 2021 to 2027.
Target Audience of the Global Combat Management System Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers
List of figures