Aerospace & Defense Composites Market Insight
The C4ISR market is getting steam from mainly aerospace sector. The global C4ISR market to triple its present market valuation by 2023 by climbing up to USD attaining a CAGR of 4% and above, asserts Market Research Future (MRFR) in a well-analyzed study. It also includes a comprehensive description of the drivers and segments and gives a proper perspective of the market in the coming years.
Aerospace & Defense Composites Market Drivers & Trends
As per the study, the ultimate goal of C4ISR is to provide decision-makers about the information they require at a faster pace so that they can have a complete situational awareness of a particular region. For optimizing such a process, the equipment, right materials, and systems are considered. These components of C4ISR work together, which makes it efficient and plays a vital role to achieve the desired mission. These are some of the prime factors that are taking the market towards the growth ladder, which would gain much traction during the forecast period.
At the same time, the study also depicts that the C4ISR market is anticipated to expand subsequently in five years mainly due to high usage of advanced technology and integration, along with airborne ISR, that supports maritime tactical surveillance networks. Also, a surge in the procurement of ships, across the world has resulted in augmented demand for C4ISR systems, which is also a vital driver of the market.
Other factors such as escalating usage of geospatial intelligence, as well as the growing need for short mission cycle time, also shall lead to a growth in the market in the coming years. On the other hand, the development of the electromagnetic environment and the upward integration of various components of the C4ISR are anticipated to afford growth opportunities for the market during the forecast period.
On the flip side, due to the increasing number of human-crewed aircraft that are being replaced by UAVs as the latter is now comparatively more cost-effective. Such a factor is expected to have given a negative impact on the growth of the market during the forecast period.
Aerospace & Defense Composites Market Segmentation
The segmental analysis of the global C4ISR market has been conducted among the elements of system and application.
In terms of the system: Command, Control, Communications, Computer, Intelligence, Surveillance, and Reconnaissance are the segments.
In terms of application: Land, air, naval and space are the segments.
Aerospace & Defense Composites Market Regional Outlook
Geographic analysis of the global C4ISR market spans across North America, Europe, Asia Pacific, Middle East & Africa (MEA) and South America.
As per the study, in 2016, North America occupied approximately 44% of the global C4ISR market it had a significant market share due to technological advancements, rising government initiatives, and investments in the United States. Presently, the market is likely to expand in the next five years, despite declines in 2016 and 2017 as military budget cutbacks in the Americas. In the end, North America is a highly developed market with advanced infrastructure, and it currently holds a large share of the market.
APAC and the Middle East to witness a steep growth of the market due to balance economic conditions in numerous countries in APAC and the Middle East that have led to an increase in their defense budgets. With this, the demand for new and advanced technologies for C4ISR systems is also helping the market to expand in the coming years. Furthermore, APAC and the Middle East together have nearly 30% of the market share with the increased demand for networked communication, sensor upgrades and electronic and intelligence warfare systems, which is likely to inflate significantly in the Asia Pacific region. The advancement of Chinese C4ISR systems can mainly attract the Indian defense domain to invest in the C4ISR market.
Aerospace & Defense Composites Market Key Players
Major players in the C4ISR market are listed as Rockwell Collins(U.S.), BAE Systems (U.S.), Northrop Grumman Corporation (U.S.), Lockheed Martin Corporation (U.S.), Elbit Systems Ltd (U.S.), Raytheon Company (U.S.), Thales Group (France), L-3 Technologies, Inc. (U.S.), General Dynamics Corporation (U.S.), and Harris Corporation (France). Along with these names, Lockheed Martin and Northrop Grumman are also two of the leading players in the market that endow with information and electronic systems.
Global C4ISR Market Report Information by System (Command, Control, Communications, Computers, Intelligence, Surveillance, and Reconnaissance), by Application (Land, Air, Naval, and Space), and by Region - Forecast to 2023 @ https://www.marketresearchfuture.com/reports/c4isr-market-1241