PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1279752
PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1279752
Global Military Identification Friend or Foe Market is valued at approximately USD XX billion in 2021 and is anticipated to grow with a healthy growth rate of more than XX% over the forecast period 2022-2029. Identification Friend-or-Foe (IFF), a safe method of identifying aircraft, can recognise and discriminate between friendly and hostile aircraft. These systems make use of electromagnetic and radio frequency (RF) gear to communicate with the aircraft and identify friendly, hostile, or neutral forces in the airspace. Because it allows the armed forces to discern between potential allies and opponents, it is crucial to military operations. The gadget serves as a highly developed digital "challenge and response" password system, sending out a signal to challenge users and verifying when they have entered a strong password. The increasing spending on the advancement of defense forces and the growing adoption of IoT, machine learning & AI in the Defense sector are key factors driving the market space.
The rise in spending towards the advancement of defense forces due to increasing in border security concerns is contributing towards the growth of the Global Military Identification Friend or Foe Market. For instance, in September 2021, A USD 26 million contract for the deployment of Identification Friend-or-Foe (IFF) parts for the E-2D Advanced Hawkeye aircraft was given to BAE Systems, Inc. by the U.S. Navy. Additionally, as part of the agreement, BAE Systems would deliver Beamforming Networks (BFNs), an essential component of antenna control for the AN/APX-122A IFF Interrogator system, for integration on tactical aircraft with carrier capability. Additionally, in January 2022, ELTA Systems Ltd, an Israeli provider of defense products and services awarded HENSOLDT several contracts worth USD 10.75 million to deliver its MSSR 2000 ID and MSR1000I secondary radars and test equipment. Also, growing military expenditure by developing countries would create a lucrative growth prospectus for the market over the projected period. However, the high deployment cost of the IFF System as well as rising concern over rising cyber-attacks impede the market growth throughout the forecast period of 2022-2029.
The key regions considered for the Global Military Identification Friend or Foe Market study includes Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America dominated the market in terms of revenue, owing to the increasing emphasis on military systems modernization and the presence of leading IFF systems providers in the region. Whereas Asia Pacific is expected to grow with the highest CAGR during the forecast period, owing to factors such as rising defense budgets from countries such as India and China as well as increasing foreign direct investment (FDI) in defense sector in the region.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below.
List of tables and figures and dummy in nature, final lists may vary in the final deliverable
List of figures
List of tables and figures and dummy in nature, final lists may vary in the final deliverable