According to a new market report by Lucintel, the future of the global military sensor market looks promising with opportunities in the military industry. The global military sensor market is expected to decline in 2020 due to the global economic recession led by the COVID-19 pandemic. However, the market will witness recovery in the year 2021, and it is expected to grow with a CAGR of 5% from 2020 to 2025. The major growth drivers for this market are rapid technological advancements coupled with modernization of military systems, government investments in the defense sector, and continuous advancements in MEMS technology.
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In this market, intelligence & reconnaissance, communication & navigation, electronic warfare, target recognition, command & control, surveillance & monitoring are the applications of military sensor. Lucintel forecasts that the electronic warfare segment is expected to witness the highest growth over the forecast period due to increasing military aircraft.
Within this market, land will remain the largest platform segment over the forecast period due to increasing terrorism activities across the globe.
North America will remain the largest region over the forecast period due to inceasing military spending in the USA.
Thales Group, TE Connectivity, Curtiss-Wright Corporation., Raytheon Company, Esterline Technologies, Kongsberg Gruppen ASA, and BAE Systems plc are among the major manufacturers of the global military sensor market.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the global military sensor market by sensor type, platform, application, and region. Lucintel has prepared a comprehensive research report entitled “Growth Opportunities in the Global Military Sensor Market 2020-2025: Trends, Forecast, and Opportunity Analysis.” This Lucintel report serves as a catalyst for growth strategy, as it provides comprehensive data and analysis on trends, key drivers, and directions. The study includes trends and forecast for the global military sensor by sensor type, platform, application, and region as follows:
By Sensor Type [$M shipment analysis for 2014 – 2025]:
Acoustic Sensor
Magnetic Sensor
Sonars
Lidar
Temperature Sensor
Others
By Application [$M shipment analysis for 2014 – 2025]:
Intelligence & Reconnaissance
Communication & Navigation
Electronic Warfare
Target Recognition
Command & Control
Surveillance & Monitoring
Others
By Platform [$M shipment analysis for 2014 – 2025]:
Airborne
Land
Naval
Space
By Region [$M shipment analysis for 2014 – 2025]:
North America
United States
Canada
Mexico
Europe
Germany
UK
Italy
France
Russia
Asia Pacific
China
Japan
India
South Korea
Rest of the World
This 150-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or visit us at helpdesk@lucintel.com.
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