Man Portable Military Electronics Market Size Is Anticipated To Grow From USD 3.50 And USD 5 Billion By 2030. And Grow at a CAGR Of 4.2% By 2020-2030
Man portable electronics are designed to be carried as an integral part of a soldier in conjunction with assigned duties. Man-Portable Military Electronics Market include mobile communication products that are used for the transmission and reception of video, voice, and data signals. These systems are also used to provide intelligence, surveillance, and reconnaissance (ISR) essential for military operations. The assistance of man portable electronics has become an effective means for defense authorities to enhance the safety and capabilities of their units.
The Man-Portable Military Electronics Market use satellite-based communication that works on different frequency bands namely Ku-band, Ka-band, X-band, and others. Apart from the military and defense sector, such radar systems are also used in other commercial sectors, including weather monitoring, air traffic control, maritime vessel traffic control, defense tracking, and vehicle speed detection for law enforcement.
The factors driving the growth are growing demand for battlefield surveillance radar, investments on portable military electronics products, and growing demand for micro air vehicles. Whereas technological integration, budget cuts, and military downsizing are some of the factors restraining the market. One of the critical and most important challenges is to maintain the effectiveness of man-portable electronics systems and reducing the equipment weight at the same time, which requires investments, extensive R&D, and technological advancements.
The man-portable military electronics market is segmented on type, equipment, and region. Based on type, the market has been segmented into communication, command & control, ancillary electronics, EO/IR (Electro-Optical/Infrared), ISTAR (intelligence, surveillance, target acquisition, and reconnaissance), and force protection. The communication segment is accounted for the largest market share in 2018 and is expected to witness the highest CAGR during the forecast period. The high use of man-portable military electronics for military tactical communications during the military missions is driving the growth of this segment.
Based on equipment, the market has been segmented into radar, imaging system, and others. The radar segment is expected to grow at the highest CAGR during the forecast period. Man-portable radar system is a type of lightweight radar system used for various military applications, including land, mobile, and air for intercepting, detecting, and following targets at stationary or a moving condition.
Based on the region, the Man-Portable Military Electronics Market has been segmented into North America, Europe, Asia-Pacific, Middle East & Africa, and Latine America. North America is expected to be the largest market in the review period. This is due to the presence of key players s,such as FLIR Systems Inc., Exelis Inc., General Dynamics Corporation, and Lockheed Martin Corporation. Moreover, due to high defense expenses on procurement of advanced man-portable military electronics systems.
Asia-Pacific is expected to be the fastest-growing regional market during the forecast period. Countries such as India and China are investing more in advanced military equipment to replace their legacy systems with modern communication systems, which is expected to fuel the market growth in the region.
The key players in the global man-portable military electronics market are Aselsan AS (Turkey), BAE Systems (UK), CODAN Limited (Australia), Collins Aerospace (US), Elbit Systems Ltd (Israel), Exelis Inc (US), FLIR Systems Inc. (US), General Dynamics Corporation (US), Leonardo SpA (Italy), Lockheed Martin Corporation (US), and Saab AB (Sweden).
The market values and forecast are derived using the Market Research Future (MRFR) research methodology, which includes secondary research, primary interviews, data triangulation, and validation from an in-house data repository and statistical modeling tools.
In this process, data is collected from various secondary sources, including annual reports, SEC filings, journals, government associations, aerospace & defense magazines, white papers, corporate presentations, company websites, and paid databases.
In this process, both the demand- and supply-side parties are interviewed to extract facts and insights into the market forecast, production, trends, and projected market growth. Industry stakeholders such as CEOs, VPs, directors, and marketing executives across the value chain are approached to obtain key information.
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Man Portable Military Electronics Market Highlights:
Frequently Asked Questions (FAQ) :
The Global man-portable military electronics market is expected to expand at a CAGR of CAGR Of 4.2% By 2020-2030
General Dynamics Corporation (US), Lockheed Martin Corporation (US), Elbit Systems Ltd (Israel), and CODAN Limited (Australia) are some of the eminent players in the global man-portable military electronics market.
The global man-portable military electronics market is anticipated to acquire a significant market value during the review period.
Team Lead - Research With a technical background as bachelor's in mechanical engineering, with mba in operations management , swapnil has 6+ years of experience in market research, consulting and analytics with the tasks of data mining, analysis, and project execution. he is the poc for our clients, for their consulting projects running under the automotive/a&d domain. swapnil has worked on major projects in verticals such as aerospace & defense, automotive and many other domain projects. he has worked on projects for fortune 500 companies' syndicate and consulting projects along with several government projects.
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