Military Sensors Market by Platform, Application, Type And Region - Global Forecast to 2026

Military Sensors Market by Platform, Application, Type And Region - Global Forecast to 2026

  • July 2021 •
  • 251 pages •
  • Report ID: 5797010 •
  • Format: PDF
The military sensors market is estimated at USD 9.9 Billion in 2021 and is projected to reach USD 13.2 Billion by 2026, at a CAGR of 5.9% from 2021 to 2026. The military sensors market is growing at a significant rate across the world, and a similar trend is expected to be observed during the forecast period. Increasing demand for battlespace awareness among defense forces, ongoing advancements in MEMS technology, increasing use of UAVs in modern warfare and increasing focus on weapon system reliability are fueling the growth of the military sensors market.
Major manufacturers in this market are based in North America and Europe.Honeywell International (US), Raytheon technology (US), Lockheed Martin (US), Thales (France) are among the key manufacturers that secured military sensors contracts in the last few years.

Major focus was given to the development of new products due to the changing requirements of sensor customers across the world.These players have adopted various growth strategies to strengthen their position in the market.

These include product launches, contracts, partnerships, mergers and acquisitions, and new product development activities further to expand their presence in the military sensors market.These players have spread their business across various countries includes North America, Europe, Asia Pacific, Middle East, Africa, and South America.

COVID-19 has affected the Military sensors market growth to some extent, and this varies from country to country. Industry experts believe that the pandemic has not affected the demand for military sensors in commercial, Government and defense applications.

The gyroscope segment of the market is projected to grow at the highest CAGR during 2021-2026.

The introduction of MEMS-based gyroscopes has been a major point of innovation in the gyroscope technology.An increase in demand for high performance inertial navigation systems (INS) has fueled the growth of gyroscopes in military sensors market.

The military aviation industry, which is one of the key consumers of inertial navigation systems, has been a major reason for the market growth and is expected to be a key driver for the global market.The increased adoption of drones and unmanned aerial vehicles (UAVs) in the defense sector will also play a major role in market growth.

In June 2019, the US Missile Defense Agency (MDA) awarded a USD 4.4 million three-year contract to Vector Atomic (US) for the MDA Hypersonic Defense Component Technology program to design a micro-flatpack accelerometer-gyroscope sensor that will use hybrid integrated photonics. The company will develop and test a low size, weight, power, and cost (SWaP-C) navigation-grade gyroscope-accelerometer capable of navigating under severe acceleration, shock, and vibration characteristics of a hypersonic missile interceptor.

Based on application, electronic warfare segment will register the highest growth from 2021 to 2026.
Significant technological advancements and integration of sensors and electronics in military equipment are resulting in a shift towards multilayered defense systems, which is expected to drive the electronic warfare segment in military sensors market during the forecast period.Adding to these factors, the increase in the use of UAV systems and the need for ground surveillance and communication jamming serve as opportunities for the electronic warfare segment.

In March 2021, BAE Systems secured a USD 58 million contract to begin low-rate initial production of an electronic warfare system for F-15s to protect pilots from advanced threats coming over the electromagnetic spectrum. The contract scope includes multispectral sensors and countermeasures, signal processing, microelectronics and algorithms to deliver radar warning, situational awareness, geolocation, and self-protection capabilities.

Based on Platform, the airborne segment will register the highest growth from 2021 to 2026.
Growing adoption of airborne sensors in the defense sector is boosting the growth of the airborne segment in military sensors market.One of the factors for high growth of the military sensors market for air-based platforms is the proliferation of UAVs.

Countries across the world are investing in UAVs to increase surveillance. Various countries are also either adding new fighter aircraft fleets or are upgrading their existing fighter aircraft with latest sensor technologies, which will play a major role in market growth for airborne military sensor market. The rapid evolution of geopolitical dynamics across the globe, coupled with increasing threats of terrorism, procurement plans of emerging economies, modernizations and political instability in few regions, will drive the demand for airborne military sensor market

The North America region is estimated to account for the largest share of military sensors market in 2021.
Significant investments in R&D activities for the development of advanced military power solutions by key players and increased demand for lightweight and energy-efficient sensors are some of the factors expected to fuel the growth of the military sensors market in this region.The US is expected to drive the growth of the North American military sensors market during the forecast period, owing to easy access to various innovative technologies and significant investments being made by manufacturers in the country for the development of improved health monitoring and warfare sensors.

Several developments have taken place in the field of military sensors in the region. Prominent players from this region include Northrop Grumman (US), Raytheon Technologies(US), Lockheed Martin (US), and others.

The break-up of the profile of primary participants in the military sensors market:
• By Company Type: Tier 1 – 45%, Tier 2 – 35%, and Tier 3 – 20%
• By Designation: C Level – 35%, Director Level – 25%, and Others – 40%
• By Region: North America – 60.6%, Europe – 18.7%, Asia Pacific – 19%, Middle East & Africa – 1.2%, South America – 0.5%

Major companies profiled in the report include Honeywell International (US), TE Connectivity (Switzerland), Raytheon Technology (US), Lockheed Martin (US), Thales (France), Bae Systems (UK) among others.

Research Coverage:
This market study covers the Military Sensors market across various segments and subsegments.It aims at estimating the size and growth potential of this market across different segments based on type, application, platform and region.

This study also includes an in-depth competitive analysis of the key players in the market, along with their company profiles, key observations related to their product and business offerings, recent developments undertaken by them, and key market strategies adopted by them.

Reasons to buy this report:
The report will help the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall military sensors market.This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and to plan suitable go-to-market strategies.

The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.

The report provides insights on the following pointers:
• Market Penetration: Comprehensive information on military sensors offered by the top players in the market
• Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product launches in the military sensors market
• Market Development: Comprehensive information about lucrative markets – the report analyses the military sensors market across varied regions
• Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the military sensors market
• Competitive Assessment: In-depth assessment of market shares, growth strategies, products, and manufacturing capabilities of leading players in the military sensors market
Loading...

We are very sorry, but an error occurred.
Please contact support@reportbuyer.com if the problem remains.