Categories: Aerospace & Defence

Global Ground Defense System Market Analysis 2024_-2033 – Estimated Market Size And Key Drivers

The Ground Defense System by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).

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According to The Business Research Company’s Ground Defense System , The ground defense system market size has grown strongly in recent years. It will grow from $53.41 billion in 2023 to $57.51 billion in 2024 at a compound annual growth rate (CAGR) of 7.7%. The growth in the historic period can be attributed to military modernization programs, threat evolution, geopolitical tensions, focus on urban warfare, budget allocations..

The ground defense system market size is expected to see strong growth in the next few years. It will grow to $76 billion in 2028 at a compound annual growth rate (CAGR) of 7.2%. The growth in the forecast period can be attributed to adoption of directed energy weapons, rise in unconventional threats, modular and scalable systems, cybersecurity integration, integrated command and control systems.. Major trends in the forecast period include shift towards network-centric warfare, focus on mobility and maneuverability, integration of artificial intelligence, electromagnetic spectrum dominance, multi-domain operations..

The rising demand for cyber security is expected to propel the growth of the ground defense system market going forward. Cybersecurity is the technique of preventing harmful assaults on computers, servers, mobile devices, electronic systems, network sand data. Ground defense systems need cyber security to support them during battle and to protect their networks from adversaries during peacetime which results in the rising demand for cyber security in the ground defense system market. For instance, according to Seeking Alpha, a US-based crowd-sourced content service for financial markets, cybersecurity spending is estimated to exceed $188 billion in 2023. Furthermore, according to Cybercrime Ventures, a US-based cybercrime researcher, the cost of cybercrime will increase by 15% yearly, reaching $10.5 trillion USD annually by 2025, also there will be 3.5 million unfilled cybersecurity jobs globally in 2023. Therefore, the rising demand for cyber security is driving the growth of the ground defense system market.

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The ground defense system market covered in this report is segmented –

1) By Component: Products, Services

2) By Technology: Artificial Intelligence, 3D Printing, Internet of Things, Wearable Devices, Other Technologies

3) By Operation: Manned, Unmanned

4) By Application: Logistics And Transportation, Surveillance And Reconnaissance, Cyber Security, Explosive Ordinance Disposal (EOD), Intelligence And Data Warfare, Combat Simulation, Training And Health Monitoring, Other Applications

5) By End-User: Defense Intelligence, Military, Law Enforcement

Technological advancement is the key trend gaining popularity in the ground defense system market. Major companies operating in the ground defense system market are focusing on developing new technologies. For instance, in December 2021, Thales, a France-based provider of smart technologies, launched XTRAIM, a Day/night de camouflage capability. The unique feature of XTRAIM is its reflex red-dot sight with thermal imaging technology, which offers dependable target de-camouflage capabilities both during the day and at night. It offers users an unmatched level of precision night-firing capabilities and is compatible with all shoulder-fired assault rifles (HK416) and light machine guns (Minimi). In both symmetric and asymmetric combat scenarios, the XTRAIM sight offers a clear operational advantage.

The ground defense system market report table of contents includes: