ALBANY, New York, November 21, 2018
ALBANY, New York, November 21, 2018 /PRNewswire/ --
The C4ISR market has fragmented vendor landscape owing to the presence of number of companies operating in the global market, TMR observes. The key players operating in the C4ISR market include L-3 Communications Holdings, Inc., Rockwell Collins, Inc., Lockheed Martin Corporation, Elbit Systems Ltd, and Northrop Grumman Corporation. These leading players are focusing on product advancement and innovation. Additionally, companies are engaging in multiple partnerships and strategic collaborations. This will focus on the expansion of business and services.
According to TMR, the C4ISR market is expected to attain a value of US$132.26 bn by the end of 2026 by expanding with a CAGR of 3.8% over the forecast period from 2018 to 2026. Based on the components, the surveillance & reconnaissance segment accounted for the leading share in 2017 in the global C4ISR market and is expected to expand with CAGR of 4.5% over the forecast period. Based on the region, North America dominated the global C4ISR market and is expected to remain dominant by expanding with high CAGR of 4% over the forecast period for 2018 to 2026.
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Advancement of C4ISR in the Warfare Devices to Drive Growth
Command, communications, control, computers, intelligence, surveillance, and reconnaissance (C4ISR) is comprehensive military efforts to advance information processes and systems for using war. C4ISR is a dynamic and integral of the military strategy of defense in numerous countries. Growing demand for electronic warfare mainly in the military and defense due to growing instability on boundaries of numerous countries has boosted adoption of C4ISR and likely to fuel the growth of the global C4ISR market.
Additionally, growing demand for the technologically advanced electronic warfare with growing investment and initiatives by numerous governments in order to build advanced electronic fighting due to the threat of terrorism globally. These factors are boosting the growth of the global C4ISR market. In addition, growing demand for C4ISR due to widening applications of C4ISR in different applications such as naval, airborne, and land. This widened application is expected to boost demand and continue over the forecast period.
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Rising Security Requirement on Boundaries to Propel Growth
Furthermore, growing fights and attacks around the world for boundaries is boosting demand for advanced warfare systems which is likely to propel the growth of the global C4ISR market. The growing role of surveillance and reconnaissance in security and border protection of country is boosting adoption of the C4ISR and demand for the advanced fighting devices which is likely to propel growth over the forecast period.
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Growing advancements in the fighting equipment are boosting adoption of C4ISR in the developed region as well as developed countries are boosting the growth of the global C4ISR market. However, the high cost of warfare coupled with low purchasing power underdeveloped countries is restraining the growth of the market.
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The brief information on the topic is covered in the new report by TMR, titled "C4ISR Market [By Platform - Airborne, Naval, and Land; By Components- Surveillance & Reconnaissance, Computer, Tactical Communication, Electronic Warfare, Command and Control, and Others] - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 - 2026."
For the study, the C4ISR market has been segmented as follows:
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