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The global C5ISR market size is projected to grow from USD 123.63 billion in 2021 to USD 152.51 billion in 2028. The surging demand for artificial intelligence (AI) and space-based systems for military operations would affect growth positively. For instance, Intelsat General Communications introduced a unique mobile broadband service in June 2020 for defense forces requiring connectivity in rural areas. Fortune Business Insights™ published this information in a report, titled, “C5ISR Market Size, Share and COVID-19 Impact 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, 2021-2028.” The report further states that the market stood at USD 120.35 billion in 2020. It is set to exhibit a CAGR of 3.04% in the forecast period during 2021-2028.
Parsons Corporation Wins Contracts from U.S. Army to Develop Disruptive Technology
In February 2021, Parsons Corporation, a technology-focused company headquartered in the U.S. received a five-year contract from the U.S. Army Combat Capabilities Development Command (DEVCOM) Army Research Laboratory (ARL) worth USD 69 million. It would enable the company to develop disruptive and exploratory technology, which would further help U.S. warfighters in gaining a technological edge. As per one of the company officials, “Pearson is planning to create novel solutions associated with computational architectures required for tactical computing. It is a part of the Army’s future vision.” Such initiatives by reputed players would propel the demand for these systems in the upcoming years.
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Increasing Shift towards 5G-equipped Systems to Accelerate Growth
Wireless network operators often face major challenges because of the surging need to migrate from the existing network to the next because of the presence of multiple users. As commercial wireless network standards are changing, people are shifting towards 5G-equipped systems from 2G, 3G, and 4G networks. Hence, military personnel have to upgrade the traditional systems as soon as a new standard is launched. This is why they are integrating software defined radio (SDR) chips in the C5ISR army equipment. This is helping them to reduce the problem of migration. In February 2021, for instance, Bharat Electronics Limited (BEL) signed a contract of Rs 1, 000 crores with the Indian Ministry of Defense (MoD) to procure Software Defined Radio Tactical (SDR-Tac).
However, the maintenance, launch, and development of these systems involve high cost spending. This factor may obstruct the C5ISR market growth in the forecast period.
Dominant Companies Focus on R&D and Acquisition Strategies to Compete in Market
The market is led by a handful of companies, namely, Lockheed Martin Corporation, Northrop Grumman Corporation, Thales Group, and BAE Systems. They are persistently striving to maintain their dominance by acquiring local players and investing in R&D activities. A few other providers of C5ISR systems are trying to gain new contracts from the Army and Navy to gain a competitive edge.
Fortune Business Insights™ presents a list of prominent C5ISR vendors operating in the global market. They are as follows:
A Notable Industry Development-
Further Report Findings-
The global market can be segmented in this way:
Value (USD Billion)