Study: Command and control market to reach $35.65 billion by 2022
NORTHBROOK, Ill. The command and control systems market -- estimated to be at $29.10 billion in 2017 -- is projected to reach $35.65 billion by 2022, at a combined annual growth rate (CAGR) of 4.15 percent during the forecast period, according to a new report from MarketsandMarkets, "Command and Control Systems Market by Platform, Solution, Application And Region -- Global Forecast to 2022."
For the market study, command and control systems are defined as those that provide situational awareness of battlefield events to military commanders, enabling personnel to strategically plan and manage military units on battlefields.
The market study found that the commercial segment -- systems that are installed in power plants, offshore oil and gas installations, and research labs -- is projected to grow at the highest CAGR during the forecast period. The study segments the commercial market into critical infrastructure, transportation, industrial, and other sectors; the critical infrastructure sector is a major contributor to the growth of the commercial segment.
According to the study, the North American region is expected to account for the largest market share in the command and control systems market, driven mainly by high defense spending on various C4ISR [command, control, communications, computers, intelligence, surveillance, and reconnaissance] systems prompted by increased spending on homeland security applications due to threats from terrorism.
For additional information on this study, visit the MarketsandMarkets website.