14 November 2020
Visiongain has published a new report on Military Sensors Market Report 2021-2031: Forecasts by Type (Lidar, Radars, Acoustic Sensors, Seismic Sensors, Sonars, Temperature Sensors, Speed Sensors, Proximity Sensors, Smoke Detectors), by Application (Aerial Vehicles, Land Vehicles, Naval Ships, Soldiers, Stationary Bases, Weaponry and Artillery Systems), by Application (Intelligence & Reconnaissance, Communication & Navigation, Electronic Warfare, Combat Operations, Command & Control, Surveillance & Monitoring) AND Regional and Leading National Market Analysis PLUS Analysis of Leading Companies AND COVID-19 Recovery Scenarios.
Global military sensors market is estimated to be valued at US$ xx billion in 2021 and is projected to grow at a CAGR of xx% to reach a market value of US$ xx billion by 2031. Growing need for real-time information across the armed forces is one of the major factors to driving the military sensors market over the past few years and the trend is expected to continue over the forecast period. Deployment of unmanned systems such as UAVs, and UGVs has helped armed forces to gather very useful information from the battlefield. Unmanned systems are equipped with various communication systems sensors, and cameras which enable the information to pass from one system to other and one place to other. As a result, demand for unmanned systems for the military operations has witnessed huge growth over the past five years. Increasing deployment of unmanned systems which are equipped with various sensors is one of the major factors expected to drive the market for military sensors over the forecast period.
Emerging economies in Asia-Pacific and Middle Eastern region such as India, China, UAE, and Saudi Arabia are increasing their defense budgets over the past five years which is also expected to have positive impact on the procurement of various end use platforms such as armored vehicles, aircrafts, UAVs, UGVs, naval ships, and submarines, which in turn is expected to influence the demand for military sensors during the forecast period.
Advanced technologies such as Artificial Intelligence, BigData Analytics and IoT have helped military forces to analyse huge amount of data received through multiple sensors and multiple platforms with ease. In addition, growing popularity of network centric warfare and electronic warfare has also influenced the market for military sensor to grow positively in the recent years. With increasing focus of armed forces across the globe on enhancing ISR capabilities, and ensuring safety across air, land and sea, the demand for military sensors is expected to spur over the forecast period.
COVID-19 Impact on Military Sensors Market
Majority of the countries are experiencing fall in their GDPs due to ongoing pandemic of Covid-19 across the globe. As a result, defense budget of majority of countries is expected to be decline in coming years. Therefore, procurement of end use platforms across air, land and sea is anticipated to be delayed by two to three years until countries recover from pandemic, which in turn is expected to effect the market growth of military sensors over the first half of the forecast period.
Some of the company’s profiled in this report include TE Connectivity Ltd., Honeywell International Inc., Raytheon, Kongsberg Gruppen, Lockheed Martin, Esterline Technologies, General Electric Company, Microflown Avisa, Ultra Electronics and BAE Systems.
• In February 2020, BAE Systems has awarded a contract worth £330-million to Thales UK for the production of sonar. BAE Systems will equip these sonars on the Dreadnought nuclear submarines, which are currently under production phase.
• In May 2020, UK Defence and Security Accelerator (DASA) has awarded a contract to develop improved Electro-Optics and Infrared (EOIR) sensors for military application. The overall contract worth US$ 2.8 million and has been awarded to 13 different entities. Some of the major entities secured this contact include Thales, Teledyne, QinetiQ, University of Exeter, University of Strathclyde, and Frazer-Nash Consultancy, among others.
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