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Market Overview

Market Overview and Estimation

In order to protect the nation from external threats, developing countries have made considerable efforts to strengthen their defense capabilities. Most of the key players are focusing on developing AI, IoT, and 3D printing equipment to enhance the military operational capability. Internet of things is considered the most valuable asset in the global next-generation battlefield technology market. The rising demand for advancement of defense forces using next generation technologies such as Internet of Things, artificial intelligence, 3D printing and wearable devices on land, sea, air, and space platforms is responsible for the growth of next generation battlefield technology market.

3D printing technology is put into application for military purposes around the world for printing prototypes, developing aircraft and other vehicles in military fablabs. In the recent past, the defense forces have deployed new learning action frameworks which use next generation technology to imitate human perception of learning, memory, and judgment. AI and Internet of Things are used by major countries, namely the U.S., Russia, and China to tackle with unknown threats during combat.

With recent developments in AI, IoT, 3D printing, and wearable devices, various equipment namely unmanned ground vehicle, unmanned marine vehicle, unmanned aerial vehicle, armored fighting vehicle, submarine, fighter jets and ships are available at a reliable cost in manufacturing industries. As the complexity of automating tasks increases, the performance of the industries is likely to decline. Hence, the manufacturing industries are likely to continue as well as increase their deployment. Thus, the impact of next generation technology is expected to grow along with improved levels of new automation technologies.

Next Generation Battlefield Technology Market

 

Growth Drivers

 

• Increasing expenditure and modernization of defense industry for developing military equipment

• Rapid technological advancement in artificial intelligence and robotics
• Increasing demand for cloud services in defense

 

Market Challenges

 

• Expensive development and maintenance of AI, IoT, and 3D printing-based systems

• Rising cyber threat for military data

 

Market Opportunities

 

• Rising adoption of AI and internet of things for military operation

• Increasing demand for next-generation battlefield technologies

• Manufacturing of engine and structure of military vehicles through 3d printing

 

Growth Factors

Modernization of Defense Industry: The increase in defense budget of various countries such as the U.S., India, Russia, China, Saudi Arabia, South Korea, and South Africa plays a major role in the defense modernization program for strengthening their defense forces. The demand for modernizing military equipment using AI, IOT and 3D printing technology is backed by the requirement for precision in the battlefield for various applications. The increased demand by the defense and security applications such as ISR, combat support, explosive ordinance disposal, and mine clearance, would impact the market for next generation battlefield technology.

Technological Advancement in Artificial Intelligence: Due to the increase in the usability of robotic devices, the demand for robotics technology across wide-ranging industry verticals has increased manifold at an exceptional growth rate. Huge technological advancements in AI, IoT and machine automation for over a decade act as the foundation for wearable devices, such as exoskeleton suits.

Cloud Services in Defense: Next-generation battlefield technology formulates new ways of efficiently accomplishing various military operations such as patrolling, defending, reconnaissance, and surveillance with high precision and low mortality. Cloud can disconnect from the global internet and run autonomously on closed transfer segment. Cloud connectivity results in quick processing and analysis of information, which might enhance the functioning of military.

Report Description

Market Report Coverage - Next-Generation Battlefield Technology Market

 

 

Base Year

 

2018

 

Market Size by 2019

 

$16.66 billion

 

Forecast Period

 

2019-2024

 

Value Estimation by 2025

 

$42.12 billion

 

CAGR During Forecast Period

 

17.02%

 

Number of Tables

 

 17

 

Number of Pages

 

 300

 

 

Market Segmentation

 

• Technology - artificial intelligence, 3d printing, internet of things, and wearable devices

• Application – cybersecurity, surveillance, data warfare, logistics and transportation, explosive ordinance disposal (EOD), health monitoring, combat simulation and training, and others

• Component – hardware and software

 

Regional Segmentation

 

North America - U.S. and Canada

Europe - U.K., Germany, France, Russia, Italy, and Rest-of-Europe

Asia-Pacific – China, India, South Korea, Japan, Australia, and Rest-of-Asia-Pacific

Rest-of-the-World - Middle East and Africa and Latin America

 

Key Companies Profiled

 

BAE Systems, The Boeing Company, Exone, Elbit Systems, FLIR Systems Inc., General Dynamics, Harris Corporation, IBM, Lockheed Martin Corporation, Leidos, Northrop Grumman Corporation, Raytheon Company, Rheinmetall Group, SparkCognition, Thales Group, Other Key Players

Market Segmentation

Market Outlook by Technology

By Application

The next generation battlefield technology market (by application) includes, cybersecurity, data warfare, surveillance, logistics & transportation, explosive ordinance disposal, healthcare monitoring, and combat stimulation. Explosive ordinance disposal segment dominated the global next generation battlefield technology market with a market share of approximately 28.00% in 2018. However, the cybersecurity segment is anticipated to emerge as a second dominant segment in application by 2024 growing at a significant double digit CAGR during the forecast period.

By Component

The global next generation battlefield technology, by component includes hardware and software segment. The software segment dominated the global next generation battlefield technology market in 2018. The market is expected to grow significantly during the forecast period. Software services hold major market share in 2018 and are expected to drive the growth of the global next generation battlefield technology market from 2019 to 2024. The growth of the software segment is attributed to the high adoption of technically advanced software for military purposes.

By Region

The next generation battlefield technology market has witnessed different market dynamics across various regions of the globe. Moreover, the next generation battlefield technology manufacturing companies have witnessed rising demand from countries such as China, the U.K. and the U.S. The growth of the region is mainly driven by the increasing focus of nations such as the U.S. and Canada on adopting next generation technology such as artificial intelligence, IoT, 3D printing and wearable device to cope with the shrinking workforce due to the increasing ratio of aged population.

 

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