Fast Market Research announces the availability of the new Markets and Markets report, "Battlefield Management System (BMS) Market - Global Forecast to 2021", on their comprehensive research portal
Boston, MA -- (SBWIRE) -- 05/11/2017 -- Battlefield Management System (BMS) Market by Platform (Headquarter, Vehicle, Soldier), System (Computing System, Navigation and Imaging System, Communication and Networking System), Component and Region - Global Forecast to 2021
"Battlefield management system market is projected to grow at a CAGR of 5.28% during the forecast period"
The battlefield management system market is projected to grow from USD 13.25 billion in 2016 to USD 17.14 billion by 2021, at a CAGR of 5.28% from 2016 to 2021. The need for enhanced situational awareness and the use of battlefield management systems for special operations are expected to drive the battlefield management system market.
"Based on platform, the vehicle segment led the battlefield management system market in 2016"
Based on platform, the vehicle segment led the battlefield management system market in 2016. This dominance can be attributed to the modernization of military operations as well as the increasing demand for connected vehicles, need for network-centric battlefield programs, availability of small and robust electronic components, and the rising need for accuracy in navigation & control systems deployed in military land vehicles.
Get More Details on this Report and a Full Table of Contents at Battlefield Management System (BMS) Market - Global Forecast to 2021
"Based on system, the navigation & imaging system segment led the battlefield management system market in 2016"
Based on system, the navigation & imaging system segment dominated the battlefield management system market in 2016. Increasing defense budgets of developing nations, rising insurgencies due to territorial conflicts, and the growing need for situational awareness are the key factors that are anticipated to propel the demand for battlefield management systems.
"Based on component, the wireless communication devices segment led the battlefield management system market in 2016"
Based on component, the wireless communication devices segment dominated the battlefield management system market in 2016. This growth can be attributed to the importance of blue force tacking as well as the transformation of systems used in warfare. In the current scenario, the defense industry is undergoing major transformations, and numerous technological advancements have been undertaken by the market players to cater to the demands of defense forces. Rise in terrorism and cross-border disputes are the major factors fueling the demand for battlefield management systems.
"North America was the largest market for battlefield management systems in 2016" North America led the battlefield management system market in 2016. The North America battlefield management system market has been studied for the U.S. and Canada. The U.S. leads the battlefield management system market in North America. Factors responsible for this dominance of North America are heavy investments made by the U.S. in defense institutional reforms and advancement of military capabilities of both the countries. The battlefield management system market in North America is highly fragmented. Intense competition among these countries has forced manufacturers to tap opportunities in developing nations in the eastern part of the globe.
Break-up of profile of primary participants for this report:
-By Company Type: Tier 1 - 35%, Tier 2 - 45%, Tier 3 - 20%
-By Designation: C level - 35%, Director level - 25%, Others - 40%
-By Region: North America - 45%, Europe - 20%, Asia-Pacific - 30%, RoW - 5%
Some of the key players in the battlefield management system market are Rockwell Collins, Inc. (U.S.), SAAB AB (Sweden), Thales Group (France), Leonardo S.p.A. (Italy), Harris Corporation (U.S.), Raytheon Company (U.S.), BAE Systems plc (U.K.), and General Dynamics Corporation (U.S.).
The study segments the battlefield management system market on the basis of platform (headquarter, vehicle, and soldier), system (computing system, navigation & imaging system, and communication & networking system), and component (computer hardware devices, computer software, display devices, imaging devices, night vision devices, tracking devices, wired communication devices, wireless communication devices, and IFF), and maps these segments and subsegments across major regions, namely, North America, Europe, Asia-Pacific, the Middle East, and the RoW (Rest of the World). The report provides in-depth market intelligence regarding market dynamics and major factors that influence the growth of the battlefield management system market (drivers, restraints, opportunities, and industry-specific challenges), along with analyzing micromarkets with respect to individual growth trends, future prospects, and their contribution to the battlefield management system market.
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