New York, USA, Dec. 13, 2021 (GLOBE NEWSWIRE) -- According to a report published by Research Dive, the global military embedded systems market is anticipated to garner a revenue of $21,921.5 million and grow at a CAGR of 6.5% over the forecast period from 2021-2028.
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As per our analysts, with the increasing government capital expenditure in the military sector globally to give more emphasis on modernizing their military and defense systems, the market is expected to witness a prominent growth over the estimated timeframe. Besides, the growing adoption of wireless technologies and multi-core processors, are expected to drive the growth of the military embedded systems market over the analysis period. Moreover, the development of electronic warfare systems with increased capabilities such as providing high reliability, efficiency, and wide availability in a compact size, are the factors predicted to bolster the growth of the market throughout the forecast timeframe. However, the growing legal concerns and the security issues may hinder the growth of the market during the estimated timeframe.
Covid-19 Impact on the Military Embedded Systems Market
The outbreak of the Covid-19 pandemic has had a negative impact on the military embedded systems market, likewise various other industries. Due to the stringent guidelines and prolonged lockdowns imposed by the government, the supply chains and production levels are highly disrupted. This led to the halt of the manufacturing process of military embedded systems for a longer period. In addition, as it is quite critical to produce these systems for military purposes, the market has faced many challenges and seen a straight decline during the period of crisis.
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Segments of the Military Embedded Systems Market
The report has divided the military embedded systems market into segments namely product, component, platform, application type, and region.
Product: Motherboard & Computer-On-Module Sub-Segment to be Most Productive
The motherboard & computer-on-module sub-segment is expected to generate a revenue of $4,965.6 million during the forecast period. This is mainly due to the strong necessity of computer-on-modules in the aerospace and military industry because of enhanced quality, superior performance, and ease of use. In addition, the rising adoption of computers and smart technologies across electronics and industrial automation industries is expected to foster the growth of the military embedded systems market sub-segment over the analysis period.
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Component: Software Sub-Segment to be Most Lucrative
The software sub-segment is projected to generate $11,408.2 million in revenue during the analysis period. This is mainly because the software embedded systems are quite portable and suitable for mass production. Further, the increasing use of software integrated solutions in enhanced gadget operation ensuring safety and comfort is expected to upsurge the growth of the market sub-segment during the analysis period.
Platform: Land Sub-Segment to be Most Beneficial
The land sub-segment is predicted to garner a revenue of $6,822.7 million during the analysis period. The increasing use of directed energy weapons, bid data analytics, and artificial intelligence on ground warfare is further expected to amplify the growth of the military embedded systems market sub-segment during the estimated period.
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Application Type: Weapon Fire Control System Sub-Segment to be Most Profitable
Based on application type, the military embedded systems market is divided into radar, avionics, command & control, electronic warfare, weapon fire control system, communication & navigation, and others.
The weapon fire control system sub-segment is expected to generate a revenue of $4,317.7 million and is predicted to continue steady growth over the analysis timeframe. This is mainly due to the higher demand for automatic fire systems. The development of consolidated fire control systems is the vital factor that is predicted to bring emerging trends in the military fire control systems market in the upcoming years. Moreover, the increasing efforts of the large enterprises on producing weapons that are broadly linked to fire control systems are predicted to fuel the growth of the military embedded systems market sub-segment during the analysis timeframe.
Region: North America Region Projected to Hold the Largest Share of the Market
The North America region is predicted to generate a revenue of $6,877.4 million during the forecast timeframe. This is mainly due to the advances in technology, higher industry standards for electronic warfare, and strong governmental support in this region. In addition, the increasing investments in defense equipment and fighting capabilities are the factors expected to drive the regional growth of the market over the forecast period.
Key Players of the Military Embedded Systems Market
1. Intel Corporation
2. Curtiss-Wright Corporation
3. BAE Systems
4. SDK Embedded Systems Ltd
5. Kontron (S&t)
6. Mercury Systems, Inc
7. Advantech Co, Ltd
8. SMART Embedded Computing
9. General Dynamics Corporation
10. Xilinx Inc
These players are widely working on the development of new business strategies to hold the leading positions in the global industry.
For instance, in January 2021, Sensor Open Systems Architecture (SOSA) Consortium, an influential standards organization widely known for transitioning sensor systems to an open systems architecture, has announced its partnership with VITA, a renowned organization driving technology and standards for the bus and board industry. With this acquisition, SOSA is aiming to adopt OpenVPX architecture for leveraging its existing standards for developing communication applications, radar, electronic warfare, communication applications, and many more.
Further, the report also summarizes other critical issues such as SWOT analysis, product portfolio, the financial performance of the key players, and the latest strategic developments. Click Here to Get Absolute Top Companies Development Strategies Summary Report
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