Global Mission Management Systems Market to Reach US$40.2 Billion by the Year 2027
Amid the COVID-19 crisis, the global market for Mission Management Systems estimated at US$19.1 Billion in the year 2020, is projected to reach a revised size of US$40.2 Billion by 2027, growing at a CAGR of 11.2% over the period 2020-2027.Defense, one of the segments analyzed in the report, is projected to grow at a 11.7% CAGR to reach US$37.6 Billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Commercial segment is readjusted to a revised 6.2% CAGR for the next 7-year period. This segment currently accounts for a 9.1% share of the global Mission Management Systems market.
The U.S. Accounts for Over 29.5% of Global Market Size in 2020, While China is Forecast to Grow at a 10.8% CAGR for the Period of 2020-2027
The Mission Management Systems market in the U.S. is estimated at US$5.6 Billion in the year 2020. The country currently accounts for a 29.5% share in the global market. China, the world second largest economy, is forecast to reach an estimated market size of US$7 Billion in the year 2027 trailing a CAGR of 10.8% through 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 9.9% and 9.4% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 8.1% CAGR while Rest of European market (as defined in the study) will reach US$7 Billion by the year 2027.We bring years of research experience to this 8th edition of our report. The 181-page report presents concise insights into how the pandemic has impacted production and the buy side for 2020 and 2021. A short-term phased recovery by key geography is also addressed.Competitors identified in this market include, among others,
- Aerocomputers, Inc.
- Bird Aerosystem Ltd.
- Curtiss-Wright Corporation
- Honeywell International, Inc.
- Lockheed Martin Corporation
- Neya Systems, LLC.
- Northrop Grumman Corporation
- Piaggio Aero Industries S.P.A
- Quinetiq Group PLC.
- SAAB AB
- Thales Group