Report : Battlefield Management Systems Market to 2027 - Global Analysis and Forecast by Component (Wireless Communication Devices, Imaging Devices, Display Devices, Computer Software, Tracking Devices); System (Navigation & Imaging System, Computing System, and Communication & Networking System); Application (Vehicle, Soldier, and Headquarter)
According to the new research report published by The Insight Partners, titled “battlefield management systems Market - Global Analysis and Forecast to 2027”, the global battlefield management systems market is expected to reach US$ 26.24 Bn by 2027, registering a CAGR of 6.4% during the forecast period 2019-2027.
APAC battlefield management systems market is anticipated to account highest CAGR during the forecast period
APAC encompasses countries such as India, China, Japan, and Rest of APAC. The tensions between countries in various regions, such as that between the US and China, is a major factor boosting military spending by governments. China, India, Japan, South Korea, and Australia are among the top five military spenders in the world. The spending by China alone accounted for 49% of total spending on the defense sector in APAC in 2018. Apart from these mentioned countries, Afghanistan is also focused on increasing its military spending. For instance, in 2017, military expenditure in Afghanistan had dropped by 26%; however, in 2018, it was increased by 6.7% to US$ 198 Mn. The growth in the military power of China, along with its focus on investments in high-end technologies such as BMS, is likely to propel the overall growth of the region in the coming years, and these developments are driving the battlefield management system market in APAC.
Many initiatives have been undertaken by various military forces in APAC countries. By signing partnerships, contracts, joint ventures, and funding, companies are trying to increase their market share and brand presence. For instance, in January 2018, Elbit Systems of Australia, subsidiary of Elbit Systems Ltd., entered into the agreement with the Australian Defence Force (ADF) which was valued at US$ 121.38 Mn. Under the contract, the company would be responsible for providing through life support (TLS) services for ADF’s battle management system command and control. This is a huge contract for Elbit Systems of Australia that would considerably optimize and strengthen its local engineering and support capabilities. In July 2018, Leonardo DRS, a defense manufacturing company, declared its next-gen battle management hardware, which supports Australian Armored Cavalry Regiment M1A1SA tanks. The battle management system enable users with tracking capabilities. The system specifically allows to run battle management system applications also integrate all required communications devices and cameras and other sensors in one computer.
Key findings of the study:
With the growing technological advancement, military sector across the globe are aiming to improve their land, airborne, and naval capabilities. The rising cross border activities and unavoidable situation across the borders demand advanced technical systems. Artificial intelligence (AI), when integrated with the weapons, drones, and other products is playing a major role in military sector. AI research is ongoing in the fields of intelligence collection and analysis, command and control, and in a variety of vehicles, and it has been incorporated into military operations in Syria and Iraq. China is betting on AI to optimize its defense capabilities and is predicted to become the world leader in AI field by 2030. Currently, they are focused on using AI to make well-informed and faster decisions and on building variety of autonomous military vehicles. Russia is also active in the development of AI for the military sector, with a significant focus on robotics.
The US Department of Defense is carrying out multiple tasks directed by DoD guidance and the FY2019 National Defense Authorization Act (NDAA), such as forming a Joint Artificial Intelligence Center (JAIC), which would manage the efforts of the department to develop and evolve AI technologies into the operational use of military systems. Such initiatives would propel the battlefield management system market growth during the forecast period.
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