Sensors for military use to grow 5.9% annually to 2026, study saysNews
July 21, 2021
NORTHBROOK, Ill. The military sensors market, esimated to be $9.9 billion in 2021, is expected to reach $13.2 billion by 2026, a combined annual growth rate (CAGR) of 5.9% during the study period, according to a new market study from MarketsandMarkets, "Military Sensors Market - Global Forecast to 2026."
Driving the market will be several factors, among them the reality that sensor systems such as electro-optics/nfrared (EO/IR) sensors and their data processors are increasingly deployed by military forces; the study authors say that EO/IR systems provide instantaneous and continuous coverage of the entire battlefield to defense forces by offering them full-motion videos and intuitive operator interfaces to acquire real-time situational awareness.
The challenges the military sensor market will face, say the study authors, will include cybersecurity risks, lower accuracy and reliability among some types of sensors, and operational complexities regarding assembling and maintaining equipment with military sensors.
For additional information visit the MarketsandMarkets website.