PUBLISHER: Grand View Research | PRODUCT CODE: 1530439
PUBLISHER: Grand View Research | PRODUCT CODE: 1530439
Market Size & Trends
The global battlefield management systems market size was estimated at USD 11.68 billion in 2023 and is projected to grow at a CAGR of 4.9% from 2024 to 2030. The rising demand for battlefield management systems among the increasing military budgets across several countries during the heightened geopolitical tensions is contributing to the market growth. For instance, the Fiscal Year 2024 Defense Budget released by the U.S. Department of Defense in March 2023 encompassed USD 1.8 billion for AI and USD 1.4 billion for Joint All-Domain Command and Control (JADC2) initiatives. Such favorable government initiatives are expected to drive market expansion over the coming years.
The market growth is being further driven by technological advancement that enhances the overall functionality of warfare and optimizes military operations. The developments include secure communication, such as satellite networks and tactical radios that allow effective real-time data exchange, powerful processors for faster data processing, and advanced software functionalities like AI and machine learning. Moreover, the advancements pertaining to cybersecurity within battlefield management systems to protect sensitive data and ensure system integrity are driving their adoption, thereby enhancing the overall market outlook.
Increasing collaboration between defense organizations and various battle management systems providers is also expediting the market expansion. For instance, in April 2024, Lockheed Martin Corporation signed a USD 330.9 million deal with the Department of Defense to develop a Joint Air Battle Management System as part of the AIR6500 Phase 1 project for Australia. This system will offer advanced integrated air and missile defense capability to combat high-speed threats.
The modern battlefield management systems provide significant strategic and tactical advantages on the field. They enable military commanders to make informed decisions based on real-time data, enhance coordination among different units, and improve the overall effectiveness of military operations. These advantages are crucial in modern warfare, where rapid and accurate decision-making can determine the outcome of military engagements. The need for advanced battlefield management systems is expected to offer positive market growth.
Global Battlefield Management Systems Market Report Segmentation
This report forecasts and estimates revenue growth at the global, regional, and country levels along with analyzes the latest market trends and opportunities in each one of the sub-segments from 2018 to 2030. For this study, Grand View Research has further segmented the global battlefield management systems market report based on system, component, end use, and region.
U.S.
Canada
Mexico
Germany
UK
France
Japan
China
India
South Korea
Australia
Brazil
UAE
Saudi Arabia
South Africa