C4ISR market to grow by more than $60 billion over this decade: reportNews
January 30, 2023
JERSEY CITY, New Jersey. The global market for command, control, communications, computers, intelligence, surveillance, and reconnaissance (C4ISR) will be worth $178.74 billion by 2030 for a compound annual growth rate of 4.84%, a new report predicts.
The report, from Verified Market Research, states that the C4ISR market is currently $117.23 billion and will experience this sharp growth due in part to advances in space-based technologies that allow governments to replace conventional C4ISR architecture.
However, the market faces some limitations going forward, the report states.
"C4ISR technology is crucial in today's combat. However, it is quite expensive to build and incorporate these systems into a country's defensive capabilities," it says. "The integration of numerous air defense, command and control, and intelligence, surveillance, and reconnaissance systems is necessary for C4ISR systems. These systems require expensive development, implementation, and maintenance costs. As a result, the expense and length of time required for the development and deployment of these systems serve as a barrier to the C4ISR Market's expansion on a global scale."
Some of the key players in this market in the defense industry include Lockheed Martin, Raytheon, Rockwell Collins, BAE Systems, Thales, Leonardo, Elbit Systems, and Northrop Grumman.