Military Embedded Systems Market worth 134.88 Billion USD by 2021
According to latest Study "Military Embedded Systems Market by Application (ISR, Communication, Computer, Cyber, Combat, Command & Control), Component (Processor, GPU, DPS, IP-Chip, Others), Platform (Land, Air, Naval), Architecture, and Region - Global Forecast to 2021",
The military embedded systems market is expected to grow from USD 71.29 Billion in 2016 to USD 134.88 Billion by 2021, at a CAGR of 13.60% from 2016 to 2021.
Factors such as increased use of multicore technologies, emergence of modern warfare systems such as electronic warfare and network centric warfare systems and increased use of wireless and cloud computing technologies drive the market for military embedded systems market during the forecast period.
On the basis of architecture, hardware is the largest segment in the military embedded systems market.
The growth of the hardware segment is attributed to the increased demand of embedded systems for advanced and modern warfare applications. Hence, there is a rise in complex designing of hardware components. The defense industry is demanding for the embedded systems which are compact, and light weight, as well as are of low cost. In order to avoid the delay being faced by clients to obtain these upgraded hardware components, the manufacturers are upgrading the commercial off-the-shelf (COTS) hardware components at a rapid rate.
Microprocessor segment projected to dominate the military embedded systems market during the forecast period.
Microprocessor is used in military equipment to process intensive applications such as radars. The complexity of microprocessors is growing and requires increased computational power. Manufacturers are focusing upon the constraints of microprocessors such as, thermal dissipation, higher processing and low power in order to solve these issues. Increase in the abilities of these processors has led to the adoption of increasing processing intensive technologies such as GPGPU (General purpose graphical processing unit), which has led to a significant increase in the defense application, especially in defense aviation.
North America is expected to be the largest market for military embedded systems
North America is the largest regional segment in the military embedded systems market. The major countries under this region are the U.S. and Canada. The U.S. leads the military embedded systems market in North America. The region is witnessing growth due to increased investments in defense equipment and warfare capabilities and the implementation of network centric infrastructure across the region.
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Kontron AG (Germany), Curtiss-Wright Corporation (U.S.), Microsemi Corporation (U.S.) among others are the key players operational in the military embedded systems market. The market share analysis has been carried out by tracking all the products of the key market players, their geographical presence, and recent developments.
Source: Markets and Markets