Battlefield-management systems market to reach $11.8 billion by 2025, study saysNews
February 12, 2021
NORTHBROOK, Ill. The global market for battlefield-management systems market is projected to grow from $9.5 billion in 2020 to $11.8 billion by 2025, a combined annual growth rate of 4.3% over the study period, according to new market research from MarketsandMarkets, "Battlefield Management Systems Market -- Global Forecast to 2025."
Broken out by segment, the hardware segment is projected to grow at the highest CAGR during the forecast period, driven by increasing demand for various components in battlefield-management systems, including communication devices and computing devices.
Taken as a whole, growth in the battlefield management systems market will be spurred mostly by increasing modernization of armed forces to increase command-and-control capabilities through enhanced situational awareness; in addition, the study authors project that growth in the market may be hampered in part by lack of expertise that restrains the adoption of these systems.
For additional information, visit the MarketsandMarkets website.