New York, NY, June 24, 2019 (GLOBE NEWSWIRE) -- Zion Market Research has published a new report titled “Network Centric Warfare Market by Component (Hardware, Software, and Services), by Communication (Wired and Wireless), by Mission (Strategic and Tactical), by Platform (Air-Based, Land-Based, and Naval-Based), and by Application (Combat, ISR, Command and Control, Communications, Electronic Warfare, Cyber, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018–2025”. According to the report, the global network centric warfare market accounted for USD 50.1 billion in 2018 and is expected to reach around USD 67.6 billion by 2025, at a CAGR of around 4.1% between 2019 and 2025.
The increasing adoption of technology in land-based applications is preliminarily driving the network centric warfare market. Numerous market players have opted for various strategies for providing technology to the military. In 2018, L3 Technologies and Harris Corporation merged to start a defense technology firm, which aims at developing mission-centric solutions for the defense sector. Additionally, the rising number of cyberattacks has led to the development of complex network-centric warfare systems. The increasing use of network-centric warfare systems for communication operations is on the rise. These systems help in improving information sharing and enhance situational awareness.
Browse through 88 Tables & 37 Figures spread over 188 Pages and in-depth TOC on “Global Network Centric Warfare Market: Size, Trends, Industry Share and Forecast, 2018–2025”.
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Over the last decade, investments in defense communication systems have increased. In 2019, the U.S. Department of Defense requested funds worth USD 236.7 billion for weapon systems acquisitions, out of which about 4% (USD 10 billion) was for command, control, and communication systems. Thus, the global network centric warfare market is anticipated to grow in the upcoming years. However, the increasing technology usage in the defense sector of numerous countries in the Asia Pacific region is anticipated to offer new growth opportunities for the market.
The global network centric warfare market is fragmented into component, communication, mission, platform, and application. Based on platform, the global network centric warfare market includes air-based, land-based, and naval-based. The land-based segment is expected to hold a notable share of the market over the estimated time span. On the basis of component, the market includes hardware, software, and services. The hardware segment is projected to hold a considerable market share over the forecast time period, due to the rising demand for robust systems.
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Based on application, the network centric warfare market is segmented into combat, ISR (Intelligence, Surveillance, and Reconnaissance), command and control, communications, electronic warfare, cyber, and others. The command and control segment is projected to hold a substantial market share over the forecast timeframe. The communication segment is divided into wired and wireless. The wireless segment is expected to grow substantially over the estimated time period, owing to the rising investments made in wireless technology. The mission segment includes strategic and tactical.
North America is expected to hold a significant share of the global network centric warfare market. The U.S. is the most vital country for the region’s network centric warfare market, due to the presence of major players in the market like Lockheed Martin Corporation, Cisco Systems, The Raytheon Company, etc. Furthermore, the rising investments in the defense sector are also driving the market. In 2019, the “Department of Defense” estimated a budget of USD 750 billion as compared to USD 700 billion in 2018.
Browse the full “Network Centric Warfare Market by Component (Hardware, Software, and Services), by Communication (Wired and Wireless), by Mission (Strategic and Tactical), by Platform (Air-Based, Land-Based, and Naval-Based), and by Application (Combat, ISR, Command and Control, Communications, Electronic Warfare, Cyber, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018–2025” Report at https://www.zionmarketresearch.com/report/network-centric-warfare-market
The European network centric warfare market is driven by the increasing demand for land-based warfare systems. This upsurge is due to the rising demand in UK, Germany, Russia, and France. In 2019, the UK defense department announced investments worth USD 1.65 billion to modernize testing facilities located in the country. These investments are aimed at improving ground-based evaluation of electronic warfare and communication systems. This, in turn, has led to an increase in the demand for network-centric warfare systems in Europe.
The Asia Pacific region is expected to hold a significant share of the network centric warfare market globally over the forecast time span, due to the rising investments in technology for the defense sector in countries like India, China, and Japan. India has great market potential due to the increasing demand for drones in the defense sector. Drones are used for surveillance purposes. In 2016, the Indian defense forces announced their plans for procuring around 5,000 unmanned aircrafts for about USD 3 billion.
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The Middle Eastern and African region is anticipated to witness notable growth in network centric warfare market in the future, owing to the rising adoption of network centric warfare technology in the defense sector. Countries like Israel and the UAE are anticipated to be major attractions for the market players in this region. In 2016, the UAE’s defense spending was around USD 23 billion, which is estimated to rise at a rate of about 6.5% to reach USD 32 billion by 2021.
Some noticeable players of the global network centric warfare market are Lockheed Martin, Cisco Systems, Rockwell Collins, The Raytheon Company, Bae Systems, Harris Corporation, Northrop Grumann, Thales Group, L-3 Communications Holdings, and Elbit Systems.
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This report segments the global network centric warfare market as follows:
Global Network Centric Warfare Market: Communication Analysis
- Wired
- Wireless
Global Network Centric Warfare Market: Component Analysis
- Hardware
- Software
- Services
Global Network Centric Warfare market: Mission Analysis
- Strategic
- Tactical
Global Network Centric Warfare market: Platform Analysis
- Air-Based
- Land-Based
- Naval-Based
Global Network Centric Warfare market: Application Analysis
- Combat
- ISR (Intelligence, Surveillance, and Reconnaissance)
- Command and Control
- Communications
- Electronic Warfare
- Cyber
- Others
Global Network Centric Warfare market: Regional Analysis
- North America
- The U.S.
- Europe
- UK
- France
- Germany
- Asia Pacific
- China
- Japan
- India
- Latin America
- Brazil
- The Middle East and Africa
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