Defense Electronic Market By Equipment Type (C4ISR Systems, Weapon Systems, Electro-Optical and Infrared (EO/IR) Systems, Military Simulators, Radar Systems, Sonar Systems, Avionics and Electronic Warfare), By Application (Land, Air, Naval and Space), And Region – Global Analysis Of Market Size, Share & Trends For 2019–2021 And Forecasts To 2030
[198+ Pages Research Report] Global Defense Electronic Market to surpass USD 231.6 Billion by 2030 from USD 105 Billion in 2019 at a CAGR of 6.4% in the coming years, i.e., 2021-30.
Defense Electronics can be defined as an electronic components and systems that are specifically designed for technological superiority in national defense. Defense electronics-based systems provide reliable, high-performance electronic detection, protection, and attack capabilities to help operations succeed while minimizing deaths. Multidisciplinary engineering teams collaborate with commercial and academic partners to build these electrical solutions. Defense electronics development is often funded through national or allied defense research and development programs, although it may also result in related dual-use commercial improvements. Many of these components are designed specifically for use in military applications with high temperature and vibration demands. These sophisticated systems can be used on a variety of military platforms, including large and small planes, ships, submarines, satellites, handheld devices, and land vehicles.
Global Defense Electronic market is expected to project a notable CAGR of 6.4% in 2030.
The market is being fueled by a defense modernization program and increased procurement of advanced electronic warfare systems. Furthermore, the global industry is being boosted by an increase in military satellite development and spending. Regions with higher production capacity for tires, strong automotive sales and the comparatively low stringent regulations to support the development of Defense Electronic hold significant shares in the global market.
Global Defense Electronic: Segments
Land segment to grow with the highest CAGR during 2019-31
Global Defense Electronic Market is bifurcated By Platform into Land, Air, Naval, and. Among these, Land segment held the largest market share. As per the CRI Report Analysis, Land is the most dominant segment and thus, is expected to rise at a CAGR of 7.9% during the forecast period. Land vehicles have seen the major increase in electronic systems, with earlier generations of vehicles relying mainly on mechanical/hydraulic systems for fire control and more basic optical systems for situational awareness. Current and future generation vehicles are integrating advanced digital optical systems for soldiers and drivers, also as incorporating advances in electronic warfare systems, and even radar to allow the presence of active protection systems.
C4ISR systems segment to grow with the highest CAGR during 2019-31
Based on Equipment Type, global Defense Electronic Market fragmented into C4ISR Systems, Weapon Systems, Electro-Optical and Infrared (EO/IR) Systems, Military Simulators, Radar Systems, Sonar Systems, Avionics, and Electronic Warfare. C4ISR systems are gaining importance for mission success. The increasing breadth and depth of data and information, the increasing speed with which information flows and weapons can be deployed, and the explosion of interoperable digital devices have driven home the need for the DoD to grow and deploy more modern C4ISR capabilities
Nation’s security policies
Global Defense Electronics Market has been witnessing profitable growth owing to strict regulatory standards, supportive government policies on nation’s security policies. Governments of many countries are being concerned about their national security which ultimately rise the demand of the defense electronics market. Additionally, rising government spending in research and development activities which is expected to boost the market growth.
Escalating demand for computer-aided software solutions
Looking into the technology perspective, the prompt reason why defense electronics are becoming so prevalent on defense platforms and systems is the greater availability of enabling technologies that are helping to shape the market. Prompted by the increased focused on defense electronics as of prime importance in platform procurement, Software-Defined Systems are on their way to becoming the standard. Using such systems allows for system change, upgrade, and general ease of modification and use for a multitude of reasons. Having a software-defined capability architecture will also allow for more Open Architectures (OA), allowing for the addition of third-party capabilities to platforms and systems while ensuring that capability remains at the cutting edge of technology.
Complexity of the market
New systems in development for future fielding include a wide range of electronic subsystems that take advantage of rapid technical breakthroughs in the civilian market and integrate them with highly specialized and mission-specific defense technologies and systems. Companies with a broad portfolio, a global footprint, and access to customer-funded research and development are expected to see long-term growth in the global defense electronics market.
Global Defense Electronic: Key Players
BAE Systems plc
The Boeing Company
Honeywell International Inc.
L3Harris Technologies Inc
Bharat Electronics Limited
Rafael Advanced Defense Systems Ltd
Northrop Grumman Corporation
Indra Sistemas SA
Raytheon Technologies Corporation
Other Prominent Players
Global Defense Electronic: Regions
Global Defense Electronic market is segmented based on regional analysis into five major regions: North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. On the basis of region, North America is expected to be the growth engine of Defense Electronic Market in the near future. Asia-Pacific is also anticipated to hold a significant share in the global market. North America holds the majority of the share for Defense Electronic Market and is expected to grow significantly in forecast period. The rest of the regions are anticipated to witness rise in the Defense Electronic Market in 2015- 2031.
Global Defense Electronic is further segmented by region into:
North America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United States and Canada
Latin America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – Mexico, Argentina, Brazil, and Rest of Latin America
Europe Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United Kingdom, France, Germany, Italy, Spain, Belgium, Hungary, Luxembourg, Netherlands, Poland, NORDIC, Russia, Turkey, and Rest of Europe
Asia Pacific Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – India, China, South Korea, Japan, Malaysia, Indonesia, New Zealand, Australia, and Rest of APAC
Middle East and Africa Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – North Africa, Israel, GCC, South Africa, and Rest of MENA
Global Defense Electronic report also contains analysis on:
Defense Electronic Segments:
By Equipment Type
Electro-Optical and Infrared (EO/IR) Systems
Defense Electronic Dynamics
Defense Electronic Size
Supply & Demand
Competition & Companies Involved in the Market
Value Chain of the Market
Market Drivers and Restraints
Defense Electronic Market Report Scope and Segmentation
Report Attribute Details
Market size value in 2019 USD 105 Billion
Revenue forecast in 2030 USD 231.6 Billion
Growth Rate CAGR of 6.4% from 2021 to 2030
Base year for estimation 2020
Quantitative units Revenue in USD million and CAGR from 2021 to 2030
Report coverage Revenue forecast, company ranking, competitive landscape, growth factors, and trends
Segments covered Equipment Type, Application, and Region
Regional scope North America, Europe, Asia Pacific, Latin America, Middle East & Africa (MEA)
Key companies profiled BAE Systems plc, The Boeing Company, Honeywell International Inc., Saab AB, Safran SA, L3Harris Technologies Inc, Bharat Electronics Limited, Thales Group, Rafael Advanced Defense Systems Ltd, Northrop Grumman Corporation, Indra Sistemas SA, Raytheon Technologies Corporation, and Other Prominent Players
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