The worldwide defense industry is booming at an unprecedented rate owing to the increasing border threat among the nations. The news of latest technologies and defense deals between allies can be noticed within short intervals. The rapid technological advancements in the defense industry have rendered it an immensely competitive domain wherein rivals are trying to outdo one another. These innovations have strengthened the defense electronic system which has provided an edge to the military forces over their adversaries. The integration of advanced information technology in the defense system will gradually have a significant effect on the future conflicts and will be helpful in managing any kind of challenge.
The rising numbers of maritime disputes, traditional land-based conflicts, hybrid warfare, piracy over oceans, cyber-attacks, urban insurgency, and lone-wolf civil attacks are creating an overwhelming demand for defense electronics on a global scale. Subsequently, the global defense budget has increased drastically over the last few years, most prominent nations in this scenario being as the U.S., China, India, and the U.K. With the expanding budget, the investment in Command, Control, Communications, Computers, Intelligence, Surveillance and Reconnaissance (C4ISR) systems has increased substantially.
The C4ISR technology comprises of systems, procedures and techniques used to gather and disseminate information through intelligence gathering and distributing networks, and command and control networks, among others. It also includes hardware such as satellites, radios, relays, receivers, computers, routers, and other information technology infrastructure which help in the process. C4ISR technologies are an essential part of the defense system as they provide real time data to the personnel by converting complex data into comprehensible knowledge, which enhances their decision-making abilities and situational awareness. This technology provides support to the defense team across all platforms air, land and sea, enabling inter-portability and maximizing the utilization of the military assets.
The advantages of the C4ISR technology and the rising defense budgets and investment in this technology are the prime factors for the growth of the C4ISR market. In addition to these factors, the growing demand for commercial off-the-shelf technologies and improving cyber security protection are expected to open a pool of opportunities in the market. The global C4ISR systems market is expected to cross $100 billion mark by 2021, growing at a CAGR of 4.05% from 2017 to 2021. The C4ISR systems are being widely accepted and are utilized across land, naval, air and space applications owing to their operational superiority. Moreover, the growing economies such as China, India, and Brazil have a keen interest in the C4ISR technology, which is an essential factor propelling the growth of the market.
The C4ISR systems market comprises of C4ISR system manufacturers, original device manufacturers and end-user industries as its ecosystem. This market has evolved and is established in the developed regions such as North America and is gradually gaining traction in the Asia Pacific and Middle East & Africa (ME&A) regions. The market will experience further growth in the developed regions owing to various aspects such as capability, capacity, and cost.
BIS Research has conducted an extensive market research on ‘Global C4ISR Systems Market, Analysis & Forecast: 2017 – 2021’. The market intelligence report aims at providing an in-depth analysis of the key development strategies, marketing strategies and market trend dynamics which include drivers, restraints, and opportunities prevailing in the industry.