The Military Sensors Global Market Report 2023, provides comprehensive information on the military sensors market across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten year historic period – 2010-2021, and a ten year forecast period – 2023-2032
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As per The Business Research Company’s Military Sensors Global Market Report 2023, the market size is expected to grow from $9.51 billion in 2022 to $10.23 billion in 2023 at a compound annual growth rate (CAGR) of 7.5%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global military sensors market size is expected to reach $13.12 billion in 2027 at a CAGR of 6.4%.
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Technological advancements are a key trend gaining popularity in the military sensors market. Major companies operating in the military sensors market are focused on developing technologically advanced sensors to strengthen their position in the market. For instance, in September 2020, General Atomics Aeronautical Systems Inc., a US-based aviation and aerospace component manufacturing company, launched Sparrowhawk, a component that expands and multiplies MQ-9-based sensors while using less manpower. Sparrowhawks can also provide stand-in electronic warfare jamming or function as decoys to blind and confuse enemy-integrated air defenses, in addition to providing considerably more adaptive ISR over a greater geographic region. These extra capabilities increase the launch platform’s survivability and potentially help clear a way for other manned and unmanned aircraft as well as stand-off missile strikes.
The military sensors market is segmented:
1) By Component: Software, Hardware
2) By Platform: Airborne, Land, Naval
3) By Application: Intelligence, Surveillance, And Reconnaissance (ISR), Communication And Navigation, Target Recognition, Electronic Warfare, Command And Control, Other ApplicationsNorth America was the largest region in the military sensors market in 2022.
Major Players:
- BAE Systems PLC
- Curtiss-Wright Corporation
- Esterline Technologies Corporation
- Honeywell International Inc.
The table of contents in TBRC’s military sensors market report includes:
1. Executive Summary
2. Military Sensors Market Characteristics
3. Military Sensors Market Trends And Strategies
4. Military Sensors Market – Macro Economic Scenario
5. Military Sensors Market Size And Growth
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28. Key Mergers And Acquisitions In The Military Sensors Market
29. Military Sensors Market Future Outlook and Potential Analysis
30. Appendix
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