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Military Sensors Market to Reach USD 34.58 Billion by 2027; Introduction to Wireless Sensor Network Technology to Aid Growth, says Fortune Business Insights™

Pune, India, Jan. 21, 2021 (GLOBE NEWSWIRE) -- The global military sensors market is set to gain impetus from the emergence of the Wireless Sensor Network (WSN) technology. It is mainly designed for recording and monitoring various conditions at different locations. This information is given by Fortune Business Insights™ in a new report, titled, Military Sensors Market Size, Share & COVID-19 Impact Analysis, By Platform (Ground, Airborne, Naval, Space), By Component (Hardware, Software), By Application (Navigation & Communication, Intelligence & Reconnaissance, Electronic Warfare, Command & Control, Monitoring & Surveillance, Target Recognition), and Regional Forecast, 2020-2027.” The report further states that the market size was USD 25.94 billion in 2019 and is projected to reach USD 34.58 billion by 2027, exhibiting a CAGR of 6.91% during the forecast period.


COVID-19 Pandemic to Affect Growth Stoked by Halt of Production Globally

The COVID-19 pandemic has taken a toll on the global economy. Tire 3 and tier 4 suppliers have halted their production because of the lack of workforce. Therefore, it is delaying the delivery of military sensors worldwide. Besides, the U.S. has started investing more in developing novel technologies to prevent COVID-19 pandemic. It would augment growth. Our accurate reports will help you better understand the current scenario of the industry.


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List of top manufacturers operating in this global military sensors market:

  • Honeywell International Inc. (The U.S.)
  • Thales Group (France)
  • Curtiss-Wright Corporation (The U.S.)
  • TE Connectivity Ltd. (The U.S.)
  • Raytheon Company (The U.S.)
  • Kongsberg Gruppen ASA (Norway)
  • BAE Systems PLC (The U.K.)
  • Lockheed Martin Corporation (The U.S.)
  • Imperx, Inc. (The U.S.)


How Did We Create This Report?

As customer expectations are changing, the aspirations of dealers are also transforming rapidly. Distribution channels are becoming complex. To provide our clients with detailed information, we have conducted extensive primary and secondary research. We have thoroughly investigated each opportunity qualitatively and quantitatively so that our clients get a complete picture of both emerging and existing opportunities. We have also conducted a techno-economic study.


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Drivers & Restraints-

Increasing Development of MEMS-based Sensors to Accelerate Growth

The development of military sensors depends more on optical microelectromechanical systems (MEMS) and RF MEMS devices. These are capable of meeting special military requirements. MEMS have multiple beneficial properties. They have high reliability, low power consumption, and compact sizes. Hence, they are mainly used to develop sensors for unmanned aerial vehicles (UAVs), missiles, battlefield tanks, drone electronics, and surveillance.

At the same time, nanotechnology-based and MEMS-based military sensors are extensively utilized in monitoring the weapon's health and battlefield environment. However, these sensors have complex designs, which, in turn, may obstruct the military sensors market growth in the near future.


Segment-

Airborne Segment to Grow Rapidly Backed by Surging Usage of Military Helicopters & UAVs

Based on the platform, the airborne segment generated 27.03% in terms of the military sensors market share in 2019. It is expected to show the highest CAGR throughout the forthcoming years because of the rising usage of UAVs, fighter jets, and military helicopters in India, China, and the U.S.


Regional Insights-

Rising Modernization Programs to Boost Growth in North America

In 2019, North America procured USD 10.05 billion in terms of revenue and is set to dominate in the coming years. The rising initiatives by governments to conduct modernization programs, as well as the procurement of 3D expeditionary long-range radar in the region, would aid growth.

Europe, on the other hand, is set to grow substantially on account of the rising usage of EOIR military sensors by the U.K. Defense Ministry. In Asia Pacific, the increasing territorial disputes between India and Pakistan, as well as the geopolitical tensions between China and India, would contribute to growth.


Competitive Landscape-

Key Players Focus on Gaining New Contracts to Compete with Their Rivals

The market contains numerous prominent companies that are persistently striving to gain a competitive edge by procuring new contracts from government agencies. They are doing so to deliver their in-house military sensors.


Browse Detailed Summary of Research Report with TOC:

https://www.fortunebusinessinsights.com/military-sensors-market-104666


Detailed Table of Content:

  • Introduction
    • Research Scope
    • Market Segmentation
    • Research Methodology
    • Definitions and Assumptions
  • Executive Summary
  • Market Dynamics
    • Market Drivers
    • Market Restraints
    • Market Opportunities
  • Key Insights
    • Key Industry Developments – Key Contracts & Agreements, Mergers, Acquisitions and Partnerships
    • Latest technological Advancements
    • Porters Five Forces Analysis
    • Supply Chain Analysis
  • Quantitative Insights- Impact of COVID-19 Pandemic on Global Military Sensors Market
    • Impact of the COVID-19 pandemic on the global military sensors market
    • Steps taken by Industry/ Companies/ Governments  to overcome the impact
    • Key Developments in the Industry in Response to COVID-19 pandemic
    • Potential opportunities due to COVID-19 Outbreak
  • Global Military Sensors Market Analysis, Insights and Forecast, 2016-2027
    • Key Findings / Summary
    • Market Size Estimates and Forecast 
      • By Platform
        • Ground
        • Airborne
        • Naval
        • Space
      •    By Component
        • Hardware
          • LIDAR Sensor
          • Magnetic Sensor
          • Pressure Sensor
          • Temperature Sensor
          • Force Sensor
          • Radar Sensor
          • Accelerometer
          • Speed Sensor
          • Vibration Sensor
          • Torque Sensor
          • Proximity Sensor
          • Gyroscope
          • GPS Sensor
          • SONAR
          • Laser Target Designator
          • Angle of Attack (AOA) Sensor
          • Flow Sensor
          • Position Sensor
      •     By Application
        • Navigation & Communication
        • Intelligence & Reconnaissance
        • Electronic Warfare
        • Command & Control
        • Monitoring & Surveillance
        • Target Recognition
      •     By Region
        • North America
        • Europe
        • Asia pacific
        • Rest of the World
        • Software

TOC Continued…!


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Below are two of the latest industry developments:

  • November 2020: BAE Systems won a contract worth USD 94 million from the U.S. Navy to deliver the latter with advanced technology. It will be used to develop several unmanned aerial systems.
  • May 2020: FLIR Systems received a second contract from the Army to provide unmanned aerial systems for the Soldier Borne Sensor program. The program is capable of offering real-time visual sector scanning.


Have a Look at Related Research Insights:

Aircraft Sensors Market Size, Share & Covid-19 Impact Analysis, By Platform (Fixed-Wing Aircraft, Rotary Blade Aircraft, and UAV), By Sensor Type (Temperature, Pressure, Force, Speed, Torque, and Others), By Application (Engine Turbine & APU, Flight Control & Actuation, Landing Gear & Brakes and others), By Connectivity (Wired Sensors and Wireless Sensors), By End Use (OEMs and Aftermarket) and Regional Forecast, 2020-2027

Avionics Market Size, Share & COVID-19 Impact Analysis, By System (Hardware and Software), Platform (Commercial, Military, Business Jets, General Aviation), End-Use (OEM and Aftermarket), and Regional Forecast, 2020-2027

Connected Aircraft Market Size, Share & COVID-19 Impact Analysis, By Type (System and Solutions), By Connectivity (In-Flight Connectivity, Air-to-Air Connectivity, Air-to-Ground Connectivity), By Application (Commercial and Military), By Frequency (Ka-Band, Ku-Band, L-Band), and Regional Forecast, 2020-2027


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Fortune Business Insights™ offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them to address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in.

Our reports contain a unique mix of tangible insights and qualitative analysis to help companies achieve sustainable growth. Our team of experienced analysts and consultants use industry-leading research tools and techniques to compile comprehensive market studies interspersed with relevant data. 

At Fortune Business Insights™, we aim at highlighting the most lucrative growth opportunities for our clients. We, therefore, offer recommendations, making it easier for them to navigate through technological and market-related changes. Our consulting services are designed to help organizations identify hidden opportunities and understand prevailing competitive challenges.


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Read Press Release:

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