The Ground Defense System by The Business Research Company provides market overview across 60+ geographies in the seven regions - Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Ground Defense System , The ground defense system market size has grown strongly in recent years. It will grow from $53.41 billion in 2023 to $57.51 billion in 2024 at a compound annual growth rate (CAGR) of 7.7%. The growth in the historic period can be attributed to military modernization programs, threat evolution, geopolitical tensions, focus on urban warfare, budget allocations..
The ground defense system market size is expected to see strong growth in the next few years. It will grow to $76 billion in 2028 at a compound annual growth rate (CAGR) of 7.2%. The growth in the forecast period can be attributed to adoption of directed energy weapons, rise in unconventional threats, modular and scalable systems, cybersecurity integration, integrated command and control systems.. Major trends in the forecast period include shift towards network-centric warfare, focus on mobility and maneuverability, integration of artificial intelligence, electromagnetic spectrum dominance, multi-domain operations..
The rising demand for cyber security is expected to propel the growth of the ground defense system market going forward. Cybersecurity is the technique of preventing harmful assaults on computers, servers, mobile devices, electronic systems, network sand data. Ground defense systems need cyber security to support them during battle and to protect their networks from adversaries during peacetime which results in the rising demand for cyber security in the ground defense system market. For instance, according to Seeking Alpha, a US-based crowd-sourced content service for financial markets, cybersecurity spending is estimated to exceed $188 billion in 2023. Furthermore, according to Cybercrime Ventures, a US-based cybercrime researcher, the cost of cybercrime will increase by 15% yearly, reaching $10.5 trillion USD annually by 2025, also there will be 3.5 million unfilled cybersecurity jobs globally in 2023. Therefore, the rising demand for cyber security is driving the growth of the ground defense system market.
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The ground defense system market covered in this report is segmented –
1) By Component: Products, Services
2) By Technology: Artificial Intelligence, 3D Printing, Internet of Things, Wearable Devices, Other Technologies
3) By Operation: Manned, Unmanned
4) By Application: Logistics And Transportation, Surveillance And Reconnaissance, Cyber Security, Explosive Ordinance Disposal (EOD), Intelligence And Data Warfare, Combat Simulation, Training And Health Monitoring, Other Applications
5) By End-User: Defense Intelligence, Military, Law Enforcement
Technological advancement is the key trend gaining popularity in the ground defense system market. Major companies operating in the ground defense system market are focusing on developing new technologies. For instance, in December 2021, Thales, a France-based provider of smart technologies, launched XTRAIM, a Day/night de camouflage capability. The unique feature of XTRAIM is its reflex red-dot sight with thermal imaging technology, which offers dependable target de-camouflage capabilities both during the day and at night. It offers users an unmatched level of precision night-firing capabilities and is compatible with all shoulder-fired assault rifles (HK416) and light machine guns (Minimi). In both symmetric and asymmetric combat scenarios, the XTRAIM sight offers a clear operational advantage.
The ground defense system market report table of contents includes:
1. Executive Summary
2. Ground Defense System Market Characteristics
3. Ground Defense System Market Trends And Strategies
4. Ground Defense System Market - Macro Economic Scenario
5. Global Ground Defense System Market Size and Growth
6. Ground Defense System Market Segmentation
7. Ground Defense System Market Regional And Country Analysis
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32. Global Ground Defense System Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Ground Defense System Market
34. Ground Defense System Market Future Outlook and Potential Analysis
TOP MAJOR PLAYERS:
· BAE Systems PLC
· Lockheed Martin Corporation
· Northrop Grumman Corporation
· Thales Group
· Israel Aerospace Industries Ltd.
· Kongsberg Gruppen
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According to a new market intelligence report by BIS Research titled ‘Global Ground Defense System Market − Analysis and Forecast, 2019-2024’, the global ground defense system market was valued at $23.85 billion in 2018 and is expected to reach $34.81 billion in 2024 at a CAGR 6.27% during the forecast period 2019-2024.The growth of the ground defense system market is majorly due to the factors such as the impending need for the modernization of defense forces, strengthening deterrence capability, and rising terrorist activities around the world which has led to a growing demand of ground defense systems.
Moreover, the increasing capital expenditure in the field of electric propulsion system, robotics and autonomous combat and support vehicles drive the market of ground defense systems.BIS Research Report: https://bisresearch.com/industry-report/ground-defense-system-market.htmlOn account of growing cross-border conflicts, terrorist activities, and NATO’s defense spending standard, the government and defense forces are focusing on raising defense budget for procurement of advanced combat and support system along with upgradation of old fleets, resulted in the demand for main battle tanks, armored personnel carrier, light tactical vehicle/multi-purpose armored vehicle and amphibious vehicles, among others is growing substantially.
Countries such as U.S., U.K., China, India, Japan, Germany, South Korea and Saudi Arabia are actively engaging in new production contracts with private and public defense equipment manufacturing companies.Request for Sample Report: https://bisresearch.com/requestsample?id=819=download Key Questions Answered in this Report:Why should an investor consider venturing into the ground defense system market, and what are the future growth opportunities?For a new company looking to enter the market, which areas could it focus upon to stay ahead of the competition?How do the existing market players function to improve their market positioning?How does the supply chain function in the ground defense system market?Which product and technology segment is expected to witness the maximum demand growth in the ground defense system market during 2018-2024 and how is their growth pattern across different regions and countries?
About BIS Research: BIS Research is a global B2B market intelligence and advisory firm focusing on those emerging technological trends which are likely to disrupt the dynamics of the market.
With over 150 market research reports published annually, BIS Research focuses on high technology verticals such as 3D Printing, Advanced Materials and Chemicals, Aerospace and Defense, Automotive, Healthcare, Electronics and Semiconductors, Robotics and UAV, and other emerging technologies.
Our in-depth market intelligence reports focus on the market estimations, technology analysis, emerging high-growth applications, deeply segmented granular country-level market data, and other important market parameters useful in the strategic decision-making for senior management.
The prominent players in the ground defense system market adopted strategies of product launches, mergers and acquisitions, partnerships and collaborations, contracts and other strategies to expand their business.
The existing companies as well as new entrants, which aim to develop next-generation solutions in adherence with the existing and forthcoming industry standards for various end user applications.
The market is likely to grow rapidly with the innovations in the fields of artificial intelligence, machine learning, robotics and autonomous unmanned vehicles which offer longer endurance and higher efficiency.There has been a significant development in the modernization of ground defense systems which increase the mobility, survivability, and lethality of ground defense vehicles.
In defense and security application, the ground defense systems are used for combat, logistic & transportation, search & rescue explosive ordinance disposal, intelligent, surveillance & reconnaissance, mine clearance, firefighting, engineering and recovery support.
Ground defense vehicles such as main battle tanks, infantry fighting vehicles, self-propelled artillery, multiple launch rocket systems, armored personnel carrier, mine resistant ambush protected vehicles, tactical armored vehicles, light utility vehicles, amphibious and military engineering vehicles are the major types of vehicles which comprise different kinds of electronic and mechanical systems for optimum operation.
These vehicles are capable of handling various activities that include combat capabilities, cognitive capabilities, sensing emotion, intelligence, and surveillance & reconnaissance.Countries across the globe are actively increasing their defense spending for modernizing their defense systems by procurement defense-related products and services.
