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DUBLIN--(BUSINESS WIRE)--Nov 30, 2022--
The "C5ISR Market By Application, By Type: Global Opportunity Analysis and Industry Forecast, 2020-2030" report has been added to ResearchAndMarkets.com's offering.
The C5ISR market was valued at $120.38 billion in 2020, and is estimated to reach $188.00 billion by 2030, growing at a CAGR of 4.7% from 2021 to 2030.
North America dominates the market in terms of revenue, followed by Europe, Asia-Pacific, and LAMEA. The U.S. dominated the global C5ISR market share in North America in 2020, owing to an increase in R&D activities; technological developments by key players; and rapid adoption of innovative technologies in making advanced, reliable, precise, and efficient warfare, security, and defense systems.
Asia-Pacific is expected to grow at a significant rate during the forecast period, owing to a rise in procurement and development of advanced C5ISR integrated systems across China, India, Japan, and South Korea.
C5ISR stands for command; control; computers; communications; combat; and intelligence, surveillance, & reconnaissance. It is a system that provides command centers with real-time data from sources such as logistical and operational resources. It helps decision-makers make more sophisticated and accurate key decisions during combat. It enables the decision-maker to make a critical decision during wartime in a more sensitive and concise manner.
The C5ISR market has witnessed significant growth in recent years, owing to the adoption of command & control (C2), intelligence, and surveillance systems by many armed forces. For instance, in March 2022, Elbit Systems Ltd. signed an agreement with the Canadian Department of National Defense to provide a TORCH-X based solution as part of the Airspace Coordination Centre Modernization (ASCCM) Project.
In addition, in January 2022, General Dynamics Information Technology (GDIT), a business unit of General Dynamics Corporation, signed a $518 million contract with the U.S. Army Communications Electronics Command (CECOM) to provide logistics, sustainment, and maintenance services for joint U.S. and coalition forces worldwide within the Army Field Support Brigade (AFSB) regions.
Moreover, factors such as a rise in demand for integrated solutions and an increase in security concerns due to territorial conflicts and global terrorism are expected to drive the C5ISR market growth. However, factors such as the high cost of designing and developing intelligence, surveillance, & reconnaissance (ISR) systems create a barrier to the market's growth. On the contrary, an increase in defense expenditure by major economies is expected to create ample opportunities for market growth across the globe.
By type, the C5ISR market is categorized into land, naval, and airborne. The land segment was the highest revenue contributor in 2020 due to high demand for UGVs used for different defense sector operations.
By application, the C5ISR market is segregated into command; control; communications; computers; combat; and intelligence, surveillance, & reconnaissance. The surveillance and reconnaissance accounted for the highest revenue in 2020, owing to high demand for rotary small-sized UGVs that are deployed for numerous applications across the globe.
COVID-19 Impact Analysis
The COVID-19 impact on the C5ISR market is unpredictable and is expected to remain in force for a few years.
The COVID-19 outbreak forced governments across the globe to implement stringent lockdowns and ban the import-export of raw material items for most of 2020 & few months in 2021. This led to a sudden fall in the availability of important components for manufacturing C5ISR components.
Moreover, nationwide lockdown forced C5ISR manufacturing facilities to partially or completely cease their operations. Adverse impacts of the COVID-19 pandemic resulted in delays in activities and initiatives regarding the development of advanced C5ISR across the globe.
Key findings of the Study
Key Market Players
Key Market Segments
By Application
By Type
By Region
For more information about this report visit https://www.researchandmarkets.com/r/m81ugq
View source version on businesswire.com:https://www.businesswire.com/news/home/20221130005835/en/
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KEYWORD: EUROPE NORTH AMERICA ASIA PACIFIC
INDUSTRY KEYWORD: HARDWARE OTHER DEFENSE SECURITY AEROSPACE MANUFACTURING GOVERNMENT TECHNOLOGY TECHNOLOGY ONLINE PRIVACY DEFENSE ARTIFICIAL INTELLIGENCE DRONES SOFTWARE NETWORKS INTERNET MOBILE/WIRELESS
SOURCE: Research and Markets
Copyright Business Wire 2022.
PUB: 11/30/2022 11:17 AM/DISC: 11/30/2022 11:17 AM
http://www.businesswire.com/news/home/20221130005835/en