Dublin, Aug. 03, 2022 (GLOBE NEWSWIRE) -- The "Combat Management Systems - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
Global Combat Management Systems Market to Reach $392.5 Million by 2026
Amid the COVID-19 crisis, the global market for Combat Management Systems estimated at US$333.1 Million in the year 2022, is projected to reach a revised size of US$392.5 Million by 2026, growing at a CAGR of 2.5% over the analysis period.
Key functions of the Combat Management System include weapons control, threat evaluation, situation assessment, picture compilation, among others. Combat Management Systems collect data from surrounding environment through sensors and radars. The data collected is collated, converted and disseminate into actionable intelligence.
Modern CMS systems are capable of handling huge amounts of data and monitor thousands of positions and are highly automated and also feature a command, control and communication capability. Some of the systems also feature electro-optical infrared cameras, short-range anti-air missiles, and countermeasure devices designed to evade detection systems. Most of the modern combat management systems feature open system architectures enabling their design and deployment.
Software, one of the segments analyzed in the report, is projected to record 2.7% CAGR and reach US$320 Million by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Hardware segment is readjusted to a revised 2% CAGR for the next 7-year period.
The U.S. Market is Estimated at $102.9 Million in 2022, While China is Forecast to Reach $73.9 Million by 2026
The Combat Management Systems market in the U.S. is estimated at US$102.9 Million in the year 2022. China, the world's second largest economy, is forecast to reach a projected market size of US$73.9 Million by the year 2026 trailing a CAGR of 4.4% over the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 2.1% and 2.4% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 1.6% CAGR.
Global demand is propelled by increasing focus on superior situational awareness and growing military expenditure across emerging countries. The global combat management system market is slated to experience gains in the long-term due to increasing focus on improving naval and defense services along with the need to enhance control and efficiency of vessel navigation.
Combat management systems are intended to offer services-based, accessible framework. These systems facilitate planning for effective combat missions, coordination of multiple units, error identification using past data, and placement of intelligence on map. Combat management systems allow integration, analysis and transfer of sensor data to ensure strategic deployment of submarines, ships or other resources for combined operations, especially during complex scenarios like littoral warfare.
These systems rely on sophisticated adapters for architecture tractability to maintain sensors, communication and weapon interfaces. The systems are gaining increasing attention owing to growing need for situational awareness devices in submarines and naval ships along with strong focus of naval forces to modernize legacy combat management systems.
The market growth is also fueled by ongoing technological advances in combat management systems that are playing an important role in improving efficiency of defense combating ability. In addition, providers of these systems are developing advanced and compact systems to cater to the needs of small platforms.
These systems feature a small footprint while ensuring desirable performance. Moreover, the availability of sophisticated combat management systems capable of offering enhanced awareness regarding weaponry control is expected to further drive the global market.
What`s New for 2022?
- Global competitiveness and key competitor percentage market shares
- Market presence across multiple geographies - Strong/Active/Niche/Trivial
- Online interactive peer-to-peer collaborative bespoke updates
- Access to the digital archives
- Complimentary updates for one year
Key Topics Covered:
I. METHODOLOGY
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
- Influencer Market Insights
- Impact of Covid-19 and a Looming Global Recession
- COVID-19 Leaves the Global Economy in Shambles
- Where Does this Leave Defense Spending?
- Japan Defense Budgets: A Pre & Post COVID-19 Comparison (In US$ Billion)
- UK Defense Budget: A Pre & Post COVID-19 Comparison (In US$ Billion)
- Combat Management System (CMS): A Prelude
- Software Segment to Achieve Higher Growth
- Ever-Hostile Geopolitical Scenario and Relentless Quest for Military Supremacy Create Ample Room for Advanced Naval Technologies such as CMS
- Emerging Markets Remain Long-Term Driving Forces for Combat Management Systems
- Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)
- Recent Market Activity
2. FOCUS ON SELECT PLAYERSSelect Competitors (Total 38 Featured)
- ASELSAN A.S.
- ATLAS ELEKTRONIK GmbH
- Atos SE
- BAE Systems plc
- Bharat Electronics Limited (BEL)
- ECA Group
- Elbit Systems Ltd
- Hanwha Systems Co., Ltd
- Kongsberg Gruppen ASA
- Leonardo DRS
- Leonardo S.p.A.
- Lockheed Martin Corporation
- Raytheon Technologies Corporation
- Saab AB
- Tata Advanced Systems Limited
- Terma A/S
- Thales S.A.
3. MARKET TRENDS & DRIVERS
- Artificial Intelligence (AI) Steps In to Add Next Generation Capabilities to CMS
- Application of AI in Unmanned Vehicles to Drive Opportunities
- The US and China Seek Early Adopter Advantage in AI-Powered CMS
- Widespread Use in Submarines Drives Overall Revenue Growth
- Rise of Unmanned Vehicles Extends New Line of Opportunities
- New Capabilities for Diverse Missions Drive USV Adoption
- New Generation Radars Empower CMS with Robust Capabilities
- Evolving Role of Electronic Warfare (EW) to Stir Next Wave of Growth in CMS Deployments
- Availability of Sophisticated Combat Management Systems Fuels Wider Adoption: A Review of Select Established CMS Technologies
4. GLOBAL MARKET PERSPECTIVE
III. REGIONAL MARKET ANALYSIS
IV. COMPETITION
For more information about this report visit https://www.researchandmarkets.com/r/7pns7s
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