05 September 2019
Visiongain has published a new Defence report entitled, Military Identification Friend or Foe Market Forecast, 2019-2029.
The Military IFF market is estimated to witness a Compound Annual Growth Rate (CAGR) of 5.79 per cent from 2019 to 2029.
The desire to minimise the human cost of war, to ensure the successful deployment of small drones in military environments and to secure systems against electronic deception are all having a profound, driving effect on the market.
In recent years, other factors have also had a positive effect on the Military IFF industry. For example, interoperability allows different military forces to share standard procedures and each other’s lines of communication. IFF systems, such as Mode 5, help to solve existing interoperability issues and practically guarantee complete communication between NATO members within operations.
Visiongain anticipates that global investment and consolidation will be substantial over the next decade. The industry’s good health is due to the factors listed above as well as the presence of established companies, such as General Dynamics, Northrop Grumman and Raytheon, in the market space.
The senior defence analyst said: "The Global Military IFF market is expected to generate sales of USD 1.19 billion in 2019.
"Military IFF systems serve a critical function for armed forces around the world. They ensure interoperability between multiple interrogators and transponders; help to integrate Group 2 UAVs fully into the electronic battlefield; and provide a shield against interference intended to diminish critical situational awareness.
"Indeed, these factors will likely accelerate industry growth over the next few years. By 2029, Visiongain expects the Military IFF market to surpass the two-billion-dollar mark, achieving a total sales figure of USD 2.08 billion.
"Having said this, there are one or two threats to the future success of IFF technology, which could restrain the acceleration of the market. The most challenging issue is the secure distribution of the correct cryptographic keys."
Note for Editors
If you are interested in a more detailed overview of this report, please send an email to firstname.lastname@example.org or call her on +44 (0) 207 336 6100.
Visiongain is a leading business intelligence provider, publishing market reports for the automotive, aviation, chemicals, construction, cyber, defence, electronics, energy, food & drink, IT, maritime, materials, packaging, pharmaceutical, renewable energy, telecoms and utilities sectors.
We are one of the fastest growing and most innovative independent research companies in Europe. Based in London, UK, Visiongain publishes reports produced by analysts who are qualified experts in their field. Visiongain has firmly established itself as the first port-of-call for the business professional who needs independent, high-quality, original material to rely and depend on.
The industry’s prospects for continued growth remain bright, thanks to the increasing efficiency of shipping as a mode of transportation and further economic liberalisation.
06 September 2021
Growing adoption of advanced technologies such as big data analytics, IoT, AI, and AR & VR that have enabled planners to make decisions based on insightful data.
06 September 2021
The growing use of USVs in military applications such as border and littoral zone patrol, submarine hunting, minesweeping, ISR, offensive capabilities, and seaborne targets is projected to support the market’s robust expansion.
06 September 2021
Developing as well as developed countries are investing substantially in the latest defence systems to enhance their military capabilities such as surveillance and sighting for their armed forces.