All You Need To Know About Combat Management System Market
Posted by Akshata Sharma on September 24th, 2019
San Francisco, CA, USA, September-24, 2019 /Aerospace --
The combat management system market is projected to grow from USD 306.7 Million in 2017 to USD 365.5 Million by 2022, at a CAGR of 3.57% during the forecast period. Major drivers influencing the growth of the market include growing demand for advanced situational awareness systems in naval ships & submarines and increase in upgradation of legacy combat management systems by different navies across the world.
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The combat management system market has been segmented on the basis of component, sub-system, platform, and region. Based on component, the market has been classified into software and hardware, and the hardware segment has been further divided into control consoles, combat data center, and data network switchers. The software segment is estimated to lead the market is 2017 and is also projected to grow at a higher CAGR than the hardware segment during the forecast period, owing to the high development cost of software, which is based on the complex architecture of the combat management system.
Based on sub-system, the combat management system market has been segmented into self-defense management system, situational awareness system, track management system, weapon management system, display system, identification system, and unmanned vehicle control system. The unmanned vehicle control system segment is projected to grow at the highest CAGR during the forecast period, owing to the increasing adoption of unmanned vehicles, such as UAVs, UUVs, and UGVs in naval combat operations. Based on platform, the market has been segmented into destroyers, submarines, frigates, amphibious ships, corvettes, fast attack craft (FAC), and aircraft carriers. The corvettes segment is projected to grow at the highest CAGR during the forecast period due to the increase in deliveries of corvettes.
Based on region, the combat management system market has been segmented into North America, Europe, Asia Pacific, and Rest of the World (RoW). The Asia Pacific market is projected to grow at the highest CAGR from 2017 to 2022, due to the growing ship building activities and increasing deliveries of combat vessels in the region. Asia Pacific countries, such as China, India, and Japan, are also increasingly investing in the development of future-centric naval technologies
Proven capability and fidelity of legacy systems are restraining the growth of the combat management system market. Products offered by various companies in the market have been listed in this report. The recent developments section of the report includes recent and significant developments made by various companies. Major companies profiled in the report include BAE Systems plc (UK), Elbit Systems Ltd. (Israel), Kongsberg Gruppen ASA (Norway), Leonardo S.p.A. (Italy), Lockheed Martin Corporation (US), Raytheon Company (US), Saab AB (Sweden), and Thales Group (France), among others. Contracts accounted for the major share of all growth strategies adopted by leading players in the market. The contract strategy enabled companies to strengthen their market share in the market.
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About the AuthorAkshata Sharma
Joined: July 22nd, 2019
Articles Posted: 107
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