Rockville, MD, May 04, 2018 (GLOBE NEWSWIRE) -- According to a new market report pertaining to theC4ISRmarket, published by Transparency Market Research, the global C4ISR market is expected to reach US$ 132.26 Billionby 2026, expanding at a CAGR of 3.8% from 2018 to 2026. According to the report, the global market will continue to be influenced by a range of macroeconomic and industry-specific factors. North America will continue to be at the forefront of global demand, with the market in the region growing at above 4.0% through 2026. In Europe, the U.K., Germany, and Russia are expected to be the major contributors for the growth of the C4ISR market over the forecast period.
Rising demand for modern electronic warfare driving the global C4ISR market
Increasing demand for technologically advanced electronic warfare along with rising investment by various government initiatives to build advanced electronic warfare in order to cope with the rising threat of terrorists is one of the most significant factors driving the command, control, communications, computers, intelligence, surveillance and reconnaissance (C4ISR) market. Across the globe, demand for C4ISR is foreseen to gain strong momentum due to rising application in different platforms which includes airborne, naval, and land.
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C4ISR Market: Scope of the Report
The global command, control, communications, computers, intelligence, surveillance and reconnaissance (C4ISR) market is broadly segmented by platform, components, and geography. By platform, the airborne segment is the major revenue generator in the C4ISR market holds the largest market share. It is expected to expand at a CAGR of 4.4% during the forecast period. Moreover, in order to fulfill global demand, various C4ISR manufacturers are now focusing on research and development activities on a regular basis in order to meet their global demand from customers on a regular basis.
By components, the surveillance & reconnaissance segment held the second highest market share in 2017, contributing the highest revenue to the market and is expected to expand at a high CAGR of 4.5% over the forecast period. On the other hand, the tactical communication segment is expected to expand at a CAGR of 4.1% over the forecast period. Tactical communication systems are increasingly being installed to support numerous missions which include target acquirement, border security missions and it is also used in area surveillance in the battleground. Additionally, the tactical communication segment held the second largest market share of theglobal C4ISR market in 2017. Rising investment to upgrade naval infrastructure in the near future is expected to impact the growth of the market positively.
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As per TMR analysis, North America accounted for maximum market share in 2017 of more than 35% in terms of value. In addition, increased need for communication systems for short mission cycle time is another factor boosting demand in the North America C4ISR market. The C4ISR market is expected to witness further revision, innovation, and development in the coming years, since there are a number of leading manufacturing companies investing in the market. Rise in situational awareness to help the military in times of combat situations is expected to be one of the major factors driving the global C4ISR market during the forecast period 2018 – 2026.
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Global C4ISRMarket: Competitive Dynamics
The research study includes profiles of leading companies operating in the global command, control, communications, computers, intelligence, surveillance and reconnaissance (C4ISR) market. Market players have been profiled in terms of attributes such as company overview, financial overview, business strategies, and recent developments. Some of the key players in the C4ISR market are Lockheed Martin Corporation (The U.S), Rockwell Collins, Inc. (The U.S), The Raytheon Company (The U.S),L-3 Communications Holdings, Inc. (The U.S),Northrop Grumman Corporation (The U.S), Elbit Systems Ltd (The U.S),General Dynamics Corporation (The U.S), Harris Corporation (France), and Thales Group (France) among others. Various business strategies are being adopted by the market leaders. Companies are focusing on expanding business by developing strategic partnerships and by offering innovative solutions in the end-use market.
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