Analysts: Governmental investments driving growth in C4ISR systems
BLOOMINGTON, Minn. The global market for command and control, communication, computers, intelligence, surveillance, and reconnaissance (C4ISR) systems is expected to pass $100 billion by 2021, growing at a combined annual growth rate (CAGR) of 4.05 percent between 2017 and 2021, according to a new market forecast from BIS Research, "Global C4ISR Systems Market, Analysis & Forecast: 2017-2021."
According to the study findings, the C4ISR market is driven by a number of factors such as improved situational awareness as more users adopt C4ISR systems and rising governmental defense spending on these systems.
The manufacturers in the market, say BIS researchers, are adopting strategies such as new product launches and developments, partnerships, collaborations, contracts and agreements, expansions, and mergers and acquisitions; this activity is fueled by the fact that most of the C4ISR systems manufacturers are of the similar financial capability, which means that the market is extremely competitive. Because of the intense level of competition, innovation and development have been the key for gaining growth in this market.
The countries with high defense spending, such as the U.S., China, and India have increased their budget allocation for the development and upgrades of C4ISR systems over last few years, according to the study's findings. Moreover, the involvement of NATO countries such as the U.S. and Russia in the war zones of Middle East has spurred demand for mobile command systems, faster and more secure communications systems, and state-of-the-art surveillance systems.