Market study: C4ISR systems projected to reach an estimated $112.5 billion by 2023
DETROIT. The market for C4ISR [command, control, communications, computers, intelligence, surveillance, and reconnaissance] systems is projected to grow at a higher rate than the total defense industry in the coming five years, to reach an estimated $112.5 billion in 2023, according to a new study from Stratview Research titled "C4ISR Systems Market by Platform Type (Land, Airborne, Naval, and Space), by Application Type, (Command and Control; Communication; Computers; Intelligence, Surveillance and Reconnaissance; and Electronic Warfare), by Solution Type (Products and Services), by End-User Type (Defense and Commercial), and by Region (North America, Europe, Asia-Pacific, and Rest of the World), Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2018-2023."
According to the authors of the report, the C4ISR market will be propelled during the period studied by a number of factors, including increased military expenditure, especially by the developing economies like China and India; increased demand for mobile command systems; and mounting demand for advanced electronic systems to gain an edge. Buyers of C4ISR systems also look to the technologies' wide array of advantages, including real-time data collection, situational awareness, tactical communication, and advanced battlefield management systems.
The land segment currently dominates the C4ISR market, according to the market forecast, and it is likely to maintain its dominance throughout 2023, driven by the high allocation of land systems in defense budgets coupled with a greater demand for the procurement of command and control/communications systems. Airborne, the second largest market segment, is likely to witness the highest growth during the period studied, driven by increasing demand for unmanned aerial vehicles (UAVs) and more pressing needs for intelligence-gathering.
For more information, visit the Stratview Research website.