May 2023, Research Report on the Global Military Embedded Systems Market.
Military Embedded Systems Market Size is USD 19.4 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 6.31% during the forecast period (2023 - 2030).
Increasing demand for new and advanced electronic combat systems has significantly contributed to the expansion of the military embedded systems market. Furthermore, increasing military expenditure, rising military modernization programs, and growing demand for fast and secured communication among the armed forces are also expected to drive the growth of the segment.
However, issues related to designing military embedded systems and security issues are expected to hamper the growth of the market.
The growing use of electronic warfare systems for geospatial intelligence gathering and technological advancements in network convergence is expected to drive the demand for military embedded systems.
Growth Opportunities in the Market
The hardware segment dominated the market in 2019: The hardware segment dominated the market in 2019. Demand for electronic hardware can be directly linked to the rise in demand for driver-assistance systems and electromobility solutions for electric and hybrid combat vehicles. Thus, driving the growth of the segment.
Intelligence, surveillance & reconnaissance (ISR) segment expected to register the highest CAGR: The segment is expected to grow at the highest CAGR during the forecast period from 2020 to 2026. The growth of this segment can be attributed to the increasing procurement of advanced and high-tech surveillance & monitoring systems.
The airborne segment dominated the market in 2019: The airborne segment is expected to grow at the highest CAGR during the forecast period. This increasing demand for open system avionics in special mission aircraft and increasing surveillance operations due to geographical instability are expected to drive the growth of the segment.
Edge computing segment to register the highest growth rate: The edge computing segment is projected to grow at the highest CAGR during the forecast period. The increasing demand for processing of the bulk data at a faster rate can be directly linked to the rise in demand for multi-access edge computing/mobile edge computing and semantic edge computing for various applications.
Design segment to register the highest growth rate: The design segment is projected to grow at the highest CAGR during the forecast period. The increasing demand for advanced military equipment with enhanced ISR and targeting capabilities is expected to drive the growth of the segment.
Other Prominent Players