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The global C5ISR market size is set to hit USD 147.97 billion by 2026 owing to increasing deployment of Unmanned Aerial Vehicles (UAVs) for reconnaissance operations, according to the recent Fortune Business Insights™ report, titled “C5ISR Market Size, Share and Industry Analysis by Type (Land, Naval, Airborne, Space), By Application (Electronic Warfare, Surveillance and Reconnaissance, Intelligence, Command, and Control), By Solution (Product and Services), and Regional Forecast, 2019- 2026”. The report further states that the value of this market stood at USD 113.44 billion in 2018 and is expected to display a CAGR of 3.38% from 2019 to 2026.
BAE Systems Secures Multimillion Deal with the US Navy
In February 2020, the UK-based defense company, BAE Systems, won a $212 million contract from the Naval Air Warfare Center Aircraft Division (NAWCAD) of the US Navy. Under the contract, the company will be required to design, integrate, and test radio communication systems for the Navy’s recently constructed Guided Missile Destroyers and other US Coast Guard ships. The British company was also awarded an independent contract worth USD 104.7 million by the NAWCAD for providing sophisticated C5ISR (command, control, communications, computers, combat systems, intelligence, surveillance and reconnaissance) systems to the US Navy. In addition to supplying, the company will also provide lifetime engineering and technical services for these systems. Thus, the rising integration of advanced technologies with existing defense systems by militaries across the globe will be one of the top C5ISR market trends in the forthcoming years.
To get a detailed report summary and research scope of this market, click here: https://www.fortunebusinessinsights.com/c5isr-market-102102
Growing Demand for Wireless Radio Communication to Boost Market Prospects
Military personnel needs efficient and convenient communication systems for speedy transmission of messages. However, commercial wireless networks are constantly getting upgraded, requiring the armed forces to frequently switch from one network to the other. Vendors of military communication hardware are compelled to manufacture new components to align their products with the newest technology. Similarly, network migration is a tedious task for military personnel as frequent changes disrupt the smooth flow of information and affect coordination between agencies. C5ISR systems provide a one-shot solution to this problem as they incorporate Software Defined Ratio (SDR) chipsets to facilitate easy network migration through simple and timely software upgrades. Heightening demand for sophisticated communication equipment, therefore, will accelerate the C5ISR market growth during the forecast period.
Strategic Acquisitions by Key Players to Intensify Market Competition
Key players are implementing diverse strategies to cement their foothold in the market, according to the C5ISR market analysis. One of the most preferred strategies, the analysis suggests, is strategic acquisition activities undertaken by financially robust market companies such as Northrop Grumman and Thales Group. These acquisitions are empowering players to strengthen their product portfolio through the incorporation of advanced offerings as well as enabling them to expand their global presence. However, the competition in the market is not diverse as its landscape is dominated by a few strong companies.
List of Players Profiled in the Market Report:
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Value (USD Billion)