Global demand for military sensor market was valued at USD 24.01 Billion in 2018 and is expected to reach USD 35.39 Billion in 2025 at a CAGR of above 5.70% between 2019 and 2025.
The global demand for military sensor market was valued at USD 24.01 Billion in 2018 and is expected to reach USD 35.39 Billion in 2025 at a CAGR of above 5.70% between 2019 and 2025. Sensors are a critical technology in providing solutions to the entire ecosystem of defence, including complex controls, measures, monitoring and implementation. Current military and defense environments need efficient, reliable and scalable technology. Military and defence systems comprise missiles, drones, spaceships, military vehicles, sea systems, ships, rocket systems and satellites. Such systems operate in both during regular and combat operations in the harshest environments. Moreover, internal and external security systems rely on smart sensor technology to track and for military operations. Sensors have therefore become an integral part of military systems.
The growing demand for unmanned vehicles from military forces and defence modernization programs across the globe are certain factors boosting the market growth. Moreover, the awareness of battlespace among defence forces and advancements in MEMS technology are also contributing to the market growth. However, operational complexities in MEMs inertial navigation sensors might hamper the growth of military sensors industry.
On the basis of application, the military sensors market is fragmented into communication & navigation, electronic warfare, combat operations, intelligence & reconnaissance, command & control, target recognition and surveillance & monitoring. The surveillance & monitoring segment is projected to hold the largest market size from 2019 to 2025. Economies such as India, China, Indonesia and Japan are adopting drones (UAVs) for surveillance of various military activities, accounting to boost the demand for surveillance & monitoring segment in the near future.
In terms of component, the military sensors market is categorized into hardware, software and cybersecurity solutions. The hardware module is anticipated to lead the market in terms of revenue, over the forecast period. The growth is attributed to the development of Micro-Electromechanical System (MEMS) and Internet of Things (IoT) sensors. Moreover, numerous countries are reforming their existing platforms with various types of sensors. The growing deployment of sophisticated sensors for electronic warfare applications and surveillance & monitoring are likely to accelerate the growth of hardware segment, thereby fueling the demand for military sensors market.
The global military sensors market covers five major geographic regions, namely, Asia Pacific, North America, Middle East & Africa, Europe, and Latin America. North America is projected to witness substantial growth during the forecast period, due to rising need for defence systems and development programs in military. The U.S. is likely to invest more in the aircraft in the coming years, resulting in growth of military sensors market in the region. Moreover, Asia pacific is predicted to grow at a fastest rate due to the presence of developing economies such as China, India and Japan.
The key players in the military sensors market are TE Connectivity Ltd., Honeywell International Inc., Curtiss-Wright Corporation, Thales Group, Esterline Technologies Corporation, Raytheon Company, BAE Systems plc and Kongsberg Gruppen ASA among others.
The report segments the military sensor market as follows:
Global Military Sensor Market: Platform Segment Analysis
Global Military Sensor Market: Component Segment Analysis
Global Military Sensor Market: Application Segment Analysis
Global Military Sensor Market: Regional Segment Analysis