Dublin, Aug. 14, 2024 (GLOBE NEWSWIRE) -- The "Network Enabled Weapons (NEW) - Global Strategic Business Report" has been added to ResearchAndMarkets.com's offering.
The global market for Network Enabled Weapons (NEW) was valued at an estimated US$1.5 Billion in 2023 and is projected to reach US$3.3 Billion by 2030, growing at a CAGR of 12.5% from 2023 to 2030.
The growth in the Network Enabled Weapons market is driven by several factors, including advancements in military technology, the increasing complexity of modern warfare, and the strategic shift towards network-centric operations. Technological progress in AI, ML, and communication systems has significantly improved the functionality and reliability of NEW, encouraging their adoption by armed forces worldwide.
The evolving nature of warfare, characterized by asymmetric threats and the need for rapid response capabilities, has heightened the demand for interconnected and intelligent weapons systems.
Additionally, the strategic emphasis on network-centric warfare by leading military powers underscores the importance of NEW in achieving operational goals. Investments in defense infrastructure, ongoing military modernization programs, and the need to counter emerging threats are further propelling the growth of the Network Enabled Weapons market, ensuring its continued expansion and evolution in the coming years.
Market Trends & Drivers
- Technological Advancements in Network-Enabled Systems Propel Growth in Defense Applications
- Rising Defense Budgets Strengthen Business Case for Network Enabled Weapons
- Integration with IoT and AI in Warfare Throws the Spotlight on Smart Weapons
- Increasing Threat of Cyber Warfare Generates Demand for Secure Network Enabled Weapons
- Development of Advanced Communication Protocols Expands Addressable Market Opportunity
- Focus on Real-Time Data Sharing and Situational Awareness Drives Adoption
- Enhancements in GPS and Satellite Communication Propel Market Growth
- Growing Emphasis on Precision and Accuracy in Military Operations
- Interoperability Between Different Defense Systems Strengthens Network Enabled Weapons Market
- Rising Geopolitical Tensions Accelerate Demand for Advanced Weaponry
- Advances in Cybersecurity Measures Propel Market for Secure Network Enabled Systems
- Adoption of Cloud Computing in Defense Operations Drives Growth
- Enhanced Command and Control Capabilities: The Story Behind the Demand
- Increasing Focus on Autonomous Weapons Systems Spurs Market Growth
- The Role of Big Data and Analytics in Network Enabled Weapons
- Innovations in Sensor Technology Propel Adoption of Network Enabled Weapons
- Focus on Reducing Collateral Damage Strengthens Business Case for Smart Weapons
Key Insights:
- Market Growth: Understand the significant growth trajectory of the Naval-Launched Application segment, which is expected to reach US$1.3 Billion by 2030 with a CAGR of a 11.9%. The Air-Launched Application segment is also set to grow at 12.4% CAGR over the analysis period.
- Regional Analysis: Gain insights into the U.S. market, estimated at $397.6 Million in 2023, and China, forecasted to grow at an impressive 16.7% CAGR to reach $722.0 Million by 2030. Discover growth trends in other key regions, including Japan, Canada, Germany, and the Asia-Pacific.
Key Questions Answered:
- How is the Global Network Enabled Weapons (NEW) Market expected to evolve by 2030?
- What are the main drivers and restraints affecting the market?
- Which market segments will grow the most over the forecast period?
- How will market shares for different regions and segments change by 2030?
- Who are the leading players in the market, and what are their prospects?
Report Features:
- Comprehensive Market Data: Independent analysis of annual sales and market forecasts in US$ Million from 2023 to 2030.
- In-Depth Regional Analysis: Detailed insights into key markets, including the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa.
- Company Profiles: Coverage of major players such as BAE Systems PLC, Bharat Electronics Ltd., Boeing Company, The, and more.
- Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments.
Select Competitors Featured:
- BAE Systems
- Bharat Electronics Ltd.
- Boeing Company, The
- Gooch & Housego PLC
- Leidos Holdings, Inc.
- Lockheed Martin Corporation
- MBDA France
- Northrop Grumman Corporation
- Rafael Advanced Defense Systems Ltd.
- Roketsan AS
- RTX Corporation
- Thales Group
- Times Microwave Systems (TMS)
For more information about this report visit https://www.researchandmarkets.com/r/mwuund
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