Global Man-Portable Military Electronics  Market Overview

Military Electro-Optical and Infrared Systems Market Size Is Projected to Grow at A USD 10. 86 million in 2030 With A CAGR Of 6% By 2023-2030

The demand for battlefield observation radar is increasing, as are investments in portable military electronics goods and the desire for micro air vehicles. The market is restrained by technological integration, budget constraints, and military reduction, among other issues. Several parts of the world are devolving into conflict zones, prompting more countries to devote significant resources to meeting the needs of the armed forces and Special Forces. As a result, it's no wonder that defense spending is rising in nations like India, which is home to both conflict zones and terrorist hotspots in the region. As the threat of terrorism grows around the world, military expenditure rises significantly. As a result, armies are increasingly demanding man-portable military electronic systems. The purpose of this purchase is to strengthen capabilities related to land-based combat. Various governments are putting greater emphasis on troop upgrading. More investments in the man-portable military electronics sector are projected in the coming years because of this focus. In the coming years, research into powered exoskeleton technology is projected to generate development possibilities for the industry.

While the demand for products such as battlefield surveillance radar and micro air vehicles is increasing, the demand for man-made military electronics is increasing. Furthermore, significant players are putting a strong emphasis on innovation and investing considerably in this area. It's also not surprising, given that many of these countries are actively engaging in counter-terrorism initiatives and other similar projects. As a result, it is only natural for these countries to keep their militaries modernized and technologically advanced. Over the forecast period, this will contribute positively to the growth of the man-portable military electronics market.

Maintaining the performance of man-portable electronics systems while reducing equipment weight is one of the most essential issues, which necessitates significant investments, substantial R&D, and technological improvements.

Competitive Dynamics

The key players in the global man-portable military electronics market are Aselsan AS (Turkey), BAE Systems (UK), CODAN Limited (Australia), Collins Aerospace (US), Elbit Systems Ltd (Israel), Exelis Inc (US), FLIR Systems Inc. (US), General Dynamics Corporation (US), Leonardo SpA (Italy), Lockheed Martin Corporation (US), and Saab AB (Sweden).

Analytical Segmentation

The market for man-portable military electronics is divided into three categories: type, equipment, and area. Communication, command and control, ancillary electronics, EO/IR (Electro-Optical/Infrared), ISTAR (intelligence, surveillance, target acquisition, and reconnaissance), and force protection are the different types of market segments. In 2018, the communication sector held the biggest market share, and it is predicted to grow at the fastest rate throughout the projected period. This segment's growth is being fueled by the widespread usage of man-portable military electronics for military tactical communications during military missions.

The market has been divided into three categories based on equipment: radar, imaging systems, and others. During the projection period, the radar segment is predicted to increase at the fastest CAGR. A man-portable radar system is a sort of lightweight radar system used for intercepting, detecting, and following targets in fixed or moving conditions for many military purposes, including land, mobile, and air.

Region Overview

The market has been divided into five regions: North America, Europe, Asia-Pacific, the Middle East and Africa, and Latin America.

In the global man-made portable military electronics market, North America has tracked a significant trajectory. This tendency is expected to continue during the predicted period. High degrees of technology integration and high levels of investment in innovation are some of the reasons for this rise. Furthermore, high demand arises in the United States as a result of the country's extensive participation in conflict zones and other areas. In addition, there is a high level of participation in anti-terrorist operations. During the study period, North America is predicted to be the largest market. This is because major businesses including FLIR Systems Inc., Exelis Inc., General Dynamics Corporation, and Lockheed Martin Corporation are present. Furthermore, due to high defense costs associated with the acquisition of modern man-portable military electronics systems.

During the projection period, Asia-Pacific is predicted to be the fastest-growing regional market. Countries like India and China are increasing their investments in advanced military equipment to replace old systems with new communication systems, which is projected to drive regional market growth. India, China, and Japan, among the Asia-Pacific region's emerging economies, have made major investments in modernizing their military forces. These modernization efforts are bolstered even further by these countries' increased defense spending, which has a beneficial impact on the industry as a whole.

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