Battlefield Management Systems Market Good Value & Room to Grow Ahead Seen
The global battlefield management systems market accounted for US$ 15.15 Bn in 2018 and is expected to grow at a CAGR of 6.4% over the forecast period 2019-2027. The global battlefield management system would account for US$ 26.24 Bn by 2027.
In the battlefield management systems market, various factors are driving the market such as need for enhanced situational awareness technologies; situational awareness empowers to keep track of the soldier while combating. Due to penetration of digitization in in evolving technologies, the military sector is investing in advanced technologies to keep track on the enemies all the time. The military battle is going high-tech as technologies such as the Internet of Things (IoT) for battle gear embedded with a biometric wearable are deployed to help soldiers identify the enemy and perform better in battle. The IoT has robust military applications in a cohesive network that surge situational awareness. In addition, IoT is a strong edge architecture, by using environmental sensors, biometrics, and other connected devices to send and receive data rapidly, it enables military personnel to respond during potentially dangerous situations on the battlefield. Furthermore, BMS allows absolute situational awareness by efficiently displaying crucial data to the field commander. It also helps tactical commanders to take knowledge-based and alert decisions and implement highly efficient control over operations on the battlefield. Highly advanced tracking devices integrated in BMS allows military forces in headquarters to get live situational awareness of the battlefield. These factors are driving the global battlefield management system market.
The military technologies are becoming more advanced and broadly available; rivals are swiftly developing capabilities that put the forces at risk. To counter such threats, the US military is developing battlefield management systems, which help in providing precise real-time information for commanders to make decisions and implement highly efficient control during operations on the battlefield. Furthermore, Lockheed Martin in 2017 received a contract worth US$ 38 Mn to support the US military’s theatre battle management core system. The theatre battle management core system is installed at <100 locations globally to virtually coordinate a broad range of military aircraft, such as helicopters, fighters, and cruise missiles. Thus, such partnerships in the US are driving the battlefield management system market.
The global battlefield management system market is driven important factors such as technological advancements and innovations in the battlefield management systems, protection of troops, and robust military budget. The US Department of Defense (DOD), Ministry of National Defense of the People’s Republic of China, Ministry of Defense India (MoD), and the UK Ministry of Defense (MoD) continue to invest substantial amounts in offering troops with highly advanced technology including weaponries and communication technology that enable them to communicate with each other and efficiently retaliate even in the harshest environments.
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