C4ISR Systems Market to Reach US$ 112.5 billion in 2023

The C4ISR Systems Market: Highlights

The C4ISR Systems Market is projected to grow at a higher rate than the total defense industry in the coming five years to reach an estimated US$ 112.5 billion in 2023, propelled by a host of factors including an increasing military expenditure, especially by the developing economies including China and India, an increased demand for mobile command systems, and a rising demand for advanced electronic systems to gain an edge over others. Also, C4ISR systems offer a wide array of advantages including real-time data collection, situational awareness, tactical communication, and advanced battlefield management systems. This assists the defense forces in decision making and helps the forces to have an edge over others.

C4ISR Systems Market: by Platform Type

The C4ISR systems market is segmented into the platform type as Land, Airborne, Naval, and Space. The land segment currently dominates the market and is likely to maintain its dominance throughout the forecast period, driven by the high allocation of defense budget coupled with a greater demand for the procurement of command & control and communications systems. Airborne, the second largest segment, is likely to witness the highest growth during the forecast period, driven by an increasing demand for UAVs (Unmanned Aerial Vehicles) and a greater need for intelligence gathering.

C4ISR Systems Market: by Application Type

Based on the application type, the C4ISR systems is segmented into Command & Control; Communication; Computers; Intelligence, Surveillance, and Reconnaissance (ISR); and Electronic Warfare. The ISR segment is likely to maintain its dominance during the forecast period, driven by an advancement in the ISR systems including radars, sonars, and electro-optic sensors as well as rising demand for ISR systems to stay ahead of their opponents. The communication segment is likely to grow highest during the same period, driven by a higher focus on the upgrade of communication systems.

C4ISR Systems Market: by Region

Based on the regions, North America is expected to remain the most dominant market during the forecast period. The USA is likely to remain the growth engine of the region’s market during the same period. High defense budget coupled with the presence of all the major C4ISR system providers is the driving force behind the dominance of the region’s market.

Asia-Pacific is likely to witness the highest growth during the same period, primarily driven by rising defense budget of the major Asian economies. China, India, and South Korea are the major markets for C4ISR systems in the region and are likely to create most of the demand for these systems in the coming years.

Europe also holds a considerable share of the market but is likely to grow at a modest growth during the forecast period. Depleting defense budgets of major European economies is the prime factor for a relatively low demand for C4ISR systems in the region. Russia, The UK, France, and Germany are the major markets for C4ISR systems in Europe.

Most of the major players are focusing on the development of innovating systems addressing the existing as well as upcoming market requirements. At the same time, they have been forming strategic alliances including mergers & acquisitions, joint ventures, and collaborations, to remain competitive and quickly gain the market share. Excellent track record of major players helps them in establishing good customer relations by securing long-term contracts.

SOURCE: https://www.stratviewresearch.com/325/C4ISR-Systems-Market%20.html