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Global Combat Management Systems Market to Reach $392.5 Million by 2026
SAN FRANCISCO, Aug. 10, 2021 /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "Combat Management Systems - Global Market Trajectory & Analytics". The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.
FACTS AT A GLANCE
Edition: 7; Released: May 2021
Executive Pool: 8178
Companies: 38 - Players covered include 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. and Others.
Coverage: All major geographies and key segments
Segments: Component (Hardware, Software); Sub-System (Self-Defense Management System, Situational Awareness Management System, Track Management System, Weapon Management System, Display Management System, Identification System, Unmanned Vehicle Management System)
Geographies: World; USA; Canada; Japan; China; Europe; France; Germany; Italy; UK; Rest of Europe; Asia-Pacific; Rest of World.
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ABSTRACT-
Global Combat Management Systems Market to Reach $392.5 Million by 2026
A Combat Management System (CMS) comprises the central command and decision-making element of a vessel combat system. The system basically comprises a computer and software that integrates the ship sensors, weapons, radars, and data and other equipment into a single system. The system is designed to offer situational awareness and intelligence to the crew to enable them to perform combat tasks efficiently. 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 hanling 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 delude detection systems.
Amid the COVID-19 crisis, the global market for Combat Management Systems estimated at US$340.9 Million in the year 2020, 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. 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 $99.7 Million in 2021, While China is Forecast to Reach $73.9 Million by 2026
The Combat Management Systems market in the U.S. is estimated at US$99.7 Million in the year 2021. 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. More
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Global Industry Analysts, Inc., (www.strategyr.com) is a renowned market research publisher the world`s only influencer driven market research company. Proudly serving more than 42,000 clients from 36 countries, GIA is recognized for accurate forecasting of markets and industries for over 33 years.
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Zak Ali
Director, Corporate Communications
Global Industry Analysts, Inc.
Phone: 1-408-528-9966
www.StrategyR.com
Email: [email protected]
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SOURCE Global Industry Analysts, Inc.
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