C5ISR market size was significantly large in 2020, and is expected to continue to register a rapidly inclining revenue CAGR between 2021 and 2028.
NEW YORK, NY, UNITED STATE, November 19, 2021 /EINPresswire.com/ — C5ISR stands for command, control, communications, computers, combat systems, intelligence, surveillance, and reconnaissance. It is a system that gives real-time information incorporated from sources, such as logistics and operational resources to command centres. This allows to undertake a better decision-making process that can help gain a competitive edge over rivals. The whole set-up is continuous and can be used in diverse areas, such as land, sea, and air missions.
The C5ISR market size was significantly large in 2020, and is expected to continue to register a rapidly inclining revenue CAGR between 2021 and 2028. Developing countries are investing heavily in defense equipment/tools in order to attain a competitive edge over their opponents. Furthermore, increasing implementation of automation in security and surveillance technology would enable these countries to improve their overall military infrastructure. These are some of the key factors expected to drive market revenue growth over the forecast period.
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Key companies in the global market include Lockheed Martin Corporation, Northrop Grumman Corporation, Raytheon Company, SAAB Group, Thales Group, General Dynamics, Israel Aerospace Industries Ltd., Finmeccanica Spa, BAE Systems, SELEX ES, Almaz-Antey, Reutech Radar Systems, Aselsan, Ausair Power, Huntington Ingalls Industries, L-3 Communications, United Aircraft Corp., Honeywell International, Safran, Textron, Mitsubishi Heavy industries, General Electric, Elbit Systems, Hindustan Aeronautics, ThyssenKrupp, CACI International, and Tactical Missiles Corp.
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The global defense & aerospace industry foreseen to register robust revenue growth in the coming years
Substantial investments by government or federal agencies in the defense & aerospace industry, rising incidences of cross-border conflicts and warfare around the globe, and growing number of defense and intelligence agencies worldwide are some of the key factors driving revenue growth of the global defense & aerospace industry. Emergence of state-of-the-art air force intelligence and surveillance techniques and solutions, increasing adoption of advanced military aircraft such as UAVs (unmanned aerial vehicles) and target drones, and surging demand for aerospace and defense cybersecurity solutions are other major factors bolstering industry revenue growth.
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Regional Segmentation of the Global C5ISR Market:
Rest of Europe
Rest of Asia Pacific
Rest of Latin America
Middle East & Africa
Rest of Middle East & Africa
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Source: EIN Presswire