Portland, OR , Nov. 18, 2022 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global military embedded system market generated $1.5 billion in 2021, and is estimated to reach $3.3 billion by 2031, witnessing a CAGR of 7.9% from 2022 to 2031. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chains, regional landscape, and competitive scenario. The report is a helpful source of information for leading market players, new entrants, investors, and stakeholders in devising strategies for the future and taking steps to strengthen their position in the market.
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Report coverage & details:
| Report Coverage | Details |
| Forecast Period | 2022–2031 |
| Base Year | 2021 |
| Market Size in 2021 | $1.5 Billion |
| Market Size in 2031 | $3.3 Billion |
| CAGR | 7.9% |
| No. of Pages in Report | 378 |
| Segments Covered | Product Type, Component, Platform, Application, and Region |
| Drivers | Compactness, affordability, and robustness of an embedded system make it suitable for a variety of uses in the military and defense industry. |
| Widespread adoption of embedded systems in numerous applications such as electronic warfare, cyber warfare, communication, surveillance, and reconnaissance. | |
| Rise in demand for military expenditure around the globe for the advancement of military forces. | |
| Ability of modern embedded systems to resolve the dependability, safety, and efficiency issues that plague traditional computing systems used by the military. | |
| Opportunities | The widespread use of multi-core technology in electronic warfare systems. |
| Restraints | Complicated embedded device development processes, strong security protocols, and difficult certification criteria for designs. |
Covid-19 Scenario:
- The COVID-19 pandemic impacted the military systems market negatively. The disruption of supply chain, the closing of manufacturing units, and the slowing of economies in various nations led to a decrease in demand for military embedded system.
- Furthermore, due to the government's lockdown and restrictions norms, migrants and personnel workers in manufacturing factories were unable to perform their operations, affecting the production and supply of embedded systems.
The report offers a detailed segmentation of the global military embedded system market based on product type, component, platform, application, and region. The report provides an analysis of each segment and sub-segment with the help of tables and figures. This analysis helps market players, investors, and new entrants in determining the sub-segments to be tapped on to achieve growth in the coming years.
Based on product type, the compact-PCI (board & serial) segment held the largest share of nearly one-fourth of the global military embedded system market in 2021. However, the motherboard & computer-on-module (COM) segment is estimated to dominate in terms of revenue and witness the fastest CAGR of 8.4% during the forecast period. The report also analyzes the OPEN VPX, VME BUS, and others segments.
Based on component, the hardware segment was the largest in 2021, capturing more than half of the global military embedded system market share. However, the software segment is estimated to dominate in terms of revenue and witness the fastest CAGR of 9.2% during the forecast period.
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Based on platform, the airborne segment was the largest in 2021, capturing nearly one-third of the global military embedded system market share. However, the land segment is estimated to dominate in terms of revenue and witness the fastest CAGR of 8.4% during the forecast period. The report also mentions the naval and space segments.
Based on application, the weapon fire control system segment was the largest in 2021, capturing nearly one-fifth of the global military embedded system market share, and would lead the trail through 2031. However, the radar treatment segment is estimated to witness the fastest CAGR of 8.5% during the forecast period. The report also mentions the airborne, land, naval, and space segments. The report also studies the command & control, avionics, electronic warfare, communication & navigation, and others segments.
Based on region, the market in North America was the largest in 2021, accounting for one-third of the global military embedded system market share and is likely to maintain its leadership status during the forecast timeframe. However, the market in the Asia-Pacific region is expected to manifest the highest CAGR of 8.8% from 2022 to 2031. The other regions analyzed in the study include Europe and LAMEA.
Leading players of the global military embedded system market analyzed in the research include Intel Corporation, Mercury Systems, Inc. Curtiss-Wright Corporation, Advantech Co., Ltd., BAE Systems, SMART Embedded Computing, SDK Embedded Systems Ltd., General Dynamics Corporation, Kontron (S&T), and Xilinx Inc.
The report analyzes these key players of the global military embedded system market. These players have adopted various strategies such as expansion, new product launches, partnerships, and others to increase their market penetration and strengthen their position in the industry. The report is helpful in determining the business performance, operating segments, product portfolio, and developments by every market player.
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About Us
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
