According to the Fact.MR Latest Analysis, The Demand for digital battlefield is expected to expand at an impressive CAGR of around 14% over the forecast period of 2021 to 2031. AI innovations in digital battlefields in the defense sector will be key to the growth of market players over the coming years.
A recent study by Fact.MR on the digital battlefield market offers a 10-year forecast for 2021 to 2031. The study analyzes crucial trends that are currently determining the growth of the market. This report explicates vital dynamics, such as the drivers, restraints, and opportunities for key market players along with key stakeholders as well as emerging players associated with the development of digital battlefields.
New procurement of digital battlefield solutions are expected to hold more than 50% share
In 2019, China was the second-largest military spender behind the United States, at US$ 261 billion. In recent years, the country has faced a number of neighbours and distant opponents, prompting it to expand its military expenditure on a regular basis. Its conflict with the United States, India, Japan, South Korea, Vietnam, Malaysia, and Taiwan has prompted the government to invest in both conventional and innovative technology.
New procurement of digital battlefield solutions are expected to hold more than 50% share in the market. As countries have been replacing their existing military equipment and solutions with digital counterparts, new procurement is expected to account for a larger market share.
Key Takeaways from the Market Study
- By installation, new procurement digital battlefields are likely to account for 50% revenue
- Space digital battlefield to experience a CAGR of over 16% through 2032
- Artificial Intelligence based digital battlefields to hold nearly 16% share in 2022
- Hardware based digital battlefield solutions to account for over 2 out of 5 sales
- North America to generate absolute dollar opportunity worth US$ 23.2 Bn
- China to account for nearly 13% of the global digital battlefield market
- Global digital battlefield market is expected to be valued at US$ 35 Bn in 2022
“Ease of integration of digital battlefields into existing military and defence frameworks is expected to be pivotal for winning orders and contracts,” says a Fact.MR analyst.
Key Market Segments Covered
- By Technology
- Artificial Intelligence
- 3D Printing
- Internet of Things
- Big Data Analytics
- Robotic Process Automation
- Cloud Computing & Master Data Management
- Digital Twin
- AR and VR
- By Platform
- LandDigital Battlefields
- Military Fighting Vehicles
- Unmanned Ground Vehicles
- Weapon Systems
- Headquarter and Command Centers
- Dismounted Soldier Systems
- NavalDigital Battlefields
- Naval Ships
- Unmanned Maritime Vehicles
- Airborne Digital Battlefields
- Combat Aircraft
- Special Mission Aircraft
- Unmanned Aerial Vehicles
- SpaceDigital Battlefields
- LandDigital Battlefields
- By Installation
- New Procurement Digital Battlefields
- Upgrades in Digital Battlefields
- By Solution
- Communication Devices
- Wearable Devices
- Smart Clothing
- Smart Helmets
- Imaging Devices
- Display Devices
- Tracking Devices
- Computer Hardware Devices
- Data Distribution Units
- Night Vision Devices
- Command & Control Software
- Military Situational Awareness
- Security Management
- The Spanish Navy awarded Lockheed Martin Corporation a contract worth more than USD 519 million in April 2020 for providing sensor and radar equipment using the Aegis Combat System (ACS). The ACS detects, tracks, and destroys targets and missiles using a combination of computer and radar systems.
- Raytheon Technologies Corporation was selected by the US Air Force in June 2020 to participate in an IDIQ contract worth more than USD 950 million to develop an Advanced Battle Management System (ABMS) to connect military platforms around the world. The ABMS is expected to transform the US Air Force’s future battlespace.
- Elbit Systems Ltd. was awarded a USD 50 million contract to supply digital soldier systems to the Royal Netherlands Army in December 2020. The company will provide digital soldier systems and vehicular integration for improved combat network capabilities, including command and control systems, under this contract.