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The Internet of Battlefield Things (IoBT) will attach soldiers with smart digital technology in armor, weapons, and other objects, to abbreviate the latency of decision cycles, push tailored machine intelligence and improve the resiliency of tactical battlefield analytics when needed. The entire implementation of ubiquitous sensing, pervasive computing, and pervasive communication is known as the Internet of Battlefield Things (IoBT). It creates an incredible amount of information through networked sensors and processing devices.
The internet of battlefield things market will be experiencing a boost due to increased mandate for better communication and interface with the corporal environment in a more efficient and informed manner in military services. Technological advancements like RCWS, advanced turrets for smooth and efficient operation, and the higher budget allocation for the military and defense sector certainly boost the Internet of Battlefield Things (IOBT) market. As per U.S. Army’s C.E.O., Mr. Iyer said the Army’s I.T. and security budget request is USD 16.6 billion in 2023, the largest of all D.O.D. services.
The sensing and computing devices embedded with soldiers’ helmets, suits, and weapon systems in the battlefield collate static and dynamic data on locations of enemy formations, imminent threats, and the resources available, which can help military troops make more analytical decisions.
The key restraining factors for the IOBT market are the high installation cost of this equipment on any existing system or the introduction of new products in the military market due to a lack of skilled professionals. Also, there is a growing concern about cyber-attacks on I.O.T. devices. Hackers nowadays can control any I.O.T. device and manipulate any private data. For instance, in February 2021, U.S. District alleged three South Korean hackers for their wide range of hacking activities for revenge or financial gain.
The ongoing conflict of the Russia-Ukraine war has significantly impacted the Internet of Battlefield Things (IoBT) Market. Russia and Ukraine are major suppliers of semiconductor raw materials in the electronic industry, and their conflict has led to significant disruption in the IOBT market. But also, safety measures taken by most countries such as U.S., China, and India with cyber security for I.O.T. devices due to this world conflict can positively impact the IOBT market.
The Internet of Battlefield Things (IoBT) market can be segmented into different types. By devices, it can be segmented into wearables, robots, sensors, vehicles and others. Based on application, the market can be bifurcated into forces command, weapons control, battlefield monitoring and others. Based on components, this market can be fragmented into hardware, software, services, and others. On the basis of end user, the market can be divided into government, military, and commercial. From a geographical view, the market is categorized into North America, Europe, Asia Pacific, and Rest of the World.
The report will cover the following key insights:
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North American region has captured the most significant market share in the Internet of Battlefield Things (IoBT) market during the forecasted period. Increasing investment in the defense sector in the U.S. boosts this market’s growth. For instance, the U.S. government proposed to allocate USD 842 billion for F.Y. 2024, which is USD 100 billion higher than F.Y. 2022. Also, the robust presence of top global players such as Northrop Grumman Corporation, B.A.E. Systems P.L.C., Lockheed Martin Corporation, etc. and technological boom, the North American region will be a growing market in the forecasted period.
The report includes the profiles of key players such as Thales Group, Northrop Grumman Corporation, B.A.E. Systems, L3 Harris Technologies, Leonardo D.R.S., Airbus S.E., The Boeing Company, Lockheed Martin Corporation, and others.
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