Oct 22, 2020 3:33 PM ET
iCrowd Newswire – Oct 22, 2020
The situational awareness market size is projected to grow from USD 17.2 billion in 2020 to USD 21.8 billion by 2025, recording a CAGR of 4.9% between 2020 and 2025. Increasing demand for situational awareness solutions in aviation and military, use of mobility solutions transforming military tactical operations, and growing importance of situational awareness in cybersecurity to provide significant situational awareness are the major factors driving the growth of the situational awareness system market.
By component, sensors are projected to hold the largest market size. Sensors are necessary for intelligence, surveillance, platform survivability, targeting, and advanced weapon operation, across all operating environments. They are responsible for converting physical phenomena into quantities, which are further measurable by data-acquisition systems.
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Situational awareness market for command & control systems to lead the market during the forecast period
By product type, the command and control systems are projected to lead the market during the forecast period. These types of systems are integrated with situational awareness solutions and surveillance sensors, both ground-based and airborne; they help in transmitting secure information to each level of the command chain. Command and control systems provide situational awareness for force planning, readiness assessment, and deploy applications on a battlefield. Thus, these systems are having the largest market share in the market.
Situational awareness market in North America to account for the largest share of the market during the forecast period
By region, North America is projected to account for the largest share of the market during the forecast period. The market in this region has been studied for US, Canada, and Mexico. The North American situational awareness system market is mainly dominated by US and Canada. The market growth in this region can be attributed to the increased use of situational awareness in industries such as military & defense, aviation, maritime security, and homeland security applications.
Key Market Players
General Electric (US), Lockheed Martin (US), Honeywell (US), DENSO (Japan), BAE Systems (UK), UTC (US), Microsoft (US), Barco (Belgium), AMD (US), L3Harris Technologies (US), General Dynamics (US), Xilinx (US), Qualcomm (US), Robert Bosch (Germany), Pleora Technologies (Canada), Nexvision (France), Bertin Instruments (France), Axis Communications (Sweden), Johnson Controls (Ireland), Boeing (US), Airbus (France), and Sensara (US) are some of the key players in the market.
Mr. Aashish Mehra
630 Dundee Road
Northbrook, IL 60062
Keywords: Situational Awareness Market