C4ISR market to have 3.38 percent CAGR through 2021, analysts say
NewsAugust 10, 2016
VANCOUVER, Washington. Analysts at Markets and Markets say they estimate the command, control, communications, computers, intelligence, surveillance & reconnaissance (C4ISR) market o be valued at about $93.8 billion in 2016, and forecast it to grow to $110.78 billion by 2021, at a compound annual growth rate (CAGR) of 3.38 percent from 2016 to 2021.
The report from Markets and Markets, dubbed "C4ISR Market by Platform (Land, Naval, Airborne) Application (Command & Control, Communications, Computers, ISR, EW) Component (Networking Technologies, Communication Networks, Display Consoles, Software, EW Hardware) and Region - Forecast to 2021," is broken into segments that include intelligence, surveillance & reconnaissance; communications; command & control; and electronic warfare with intelligence subsegment segment forecasted to grow at the highest CAGR during the forecast period of 2016-2021.
Regarding platforms, the analysts break C4ISR market into land, naval, and airborne segments, with airborne dominating the market in terms of market size. This dominance is expected to continue its dominance over the next five years, according to the analysts. However, the land segment in market is projected to grow at the highest CAGR during the forecast period.
The report is also broken down on a component basis with categories such as electronic warfare hardware; application software; display consoles; communication networks; and networking technologies. The communication networks subsegment in market is forecasted to have to have the highest CAGR.
Regionally, the Markets and Markets analysts forecast the Asia Pacific (APAC) region is expected to exhibit the highest growth rate from 2016 to 2021. This is attributed to the increased military spending in countries such as India and China. With geopolitical tensions in the South China Sea and border issues in multiple countries, procurement of C4ISR is estimated to increase across the region, analysts say. China, South Korea, Japan, and Indonesia are the key growth countries in this region.
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