Command and control systems market to increase 36% over 5 years: reportNews
November 03, 2022
CHICAGO, Illinois. The command and control systems market will surge from $33 billion in 2022 to $44.9 billion by 2027 for a compound annual growth rate of 6.4%, a new report predicts.
Markets and Markets states that customized communication on the move solutions, increasing need for interoperability between security devices/technologies, and an increasing defense budget of emerging countries are some of the key drivers in this market.
Some of the main players in the market include Collins Aerospace, L3harris Technologies, Thales Group, and General Dynamics.
The government and defense segment of the market is projected to lead the market over the five-year period due to "the increasing investments by various countries in battle management systems and air and missile defense systems," the report states. And North America accounts for the largest market share of any region.