PUBLISHER: Polaris Market Research | PRODUCT CODE: 1478613
PUBLISHER: Polaris Market Research | PRODUCT CODE: 1478613
The global defense electronics obsolescence market size is expected to reach USD 4.15 billion by 2032, according to a new study by Polaris Market Research. The report "Defense Electronics Obsolescence Market Share, Size, Trends, Industry Analysis Report, By Platform (Airborne, Naval and Land); By Systems (Sensors, Electronic warfare systems, Targeting Systems); By Type; By Region; Segment Forecast, 2024 - 2032" gives a detailed insight into current market dynamics and provides analysis on future market growth.
In the defense electronics obsolescence market, the advancing age of defense systems worldwide serves as a major driver for growth. With aging systems, components gradually become obsolete, prompting a demand for obsolescence management solutions. These solutions aim to prolong the lifespan of existing equipment and uphold its operational efficiency, countering the challenges posed by aging infrastructure. The rising need for obsolescence management solutions stems from the imperative to maintain the reliability and effectiveness of defense systems despite component aging. Through these solutions, defense organizations circumvent the expensive and disruptive process of replacing entire systems. Instead, they opt to selectively upgrade or replace obsolete components, thereby maximizing the value of their current investments.
Remanufacturing and reverse engineering old components present a significant opportunity in the defense electronics obsolescence sector. They help mitigate the challenges linked to rapid technological obsolescence. This strategy extends the operational life of critical equipment without the need for extensive overhauls. Consequently, defense organizations can sustain capability and readiness over time while more effectively managing costs. Remanufacturing involves restoring old or worn-out parts to such new conditions, often incorporating the latest technological advancements. This process helps avoid the substantial costs and logistical challenges associated with sourcing new, consistent replacements for outdated systems. Additionally, it promotes the recycling of old materials and parts, reducing waste and environmental impact. By updating only the necessary parts, defense organizations can maintain the functionality and reliability of current equipment at a fraction of the cost of purchasing new systems.
Reverse engineering involves disassembling and analyzing the design of outdated parts to create new, improved, or functionally equivalent parts. It is particularly useful when documentation is missing, or original manufacturers no longer produce a component. Defense companies can enhance their security and self-reliance by using reverse engineering to address supply chain vulnerabilities and reduce dependency on external suppliers.
The airborne segment dominated the market in 2023, driven by the fact that military aircraft heavily rely on complex electronics that are prone to obsolescence.
The sensors segment accounted for a significant market share in 2023 and is expected to maintain its growth. Sensors play a crucial role in defense systems, providing vital data for applications like surveillance, reconnaissance, target tracking, and navigation.
North America holds a significant revenue share in the global Defense Electronics Obsolescence market, driven by its strong industrial foundation, state-of-the-art technology, and significant defense spending.
The global key market players include Raytheon Technologies Corporation, BAE Systems, L3Harris Technologies, Inc., Thales, Elbit Systems Ltd., Actia Group, Like Technologies, Whistler Technology, Altium and Assel Poland.
Polaris Market Research has segmented the Defense Electronics Obsolescence market report based on platform, systems, type, and region: