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Digital Battlefield Market worth $154.1 Billion USD by 2030, at CAGR of 17.2%

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Digital Battlefield Market worth $154.1 Billion USD by 2030, at CAGR of 17.2%

October 20
00:35 2022
Digital Battlefield Market worth $154.1 Billion USD by 2030, at CAGR of 17.2%
Digital Battlefield Market
[402 Pages Report] The digital battlefield market is projected to grow from USD 43.2 billion in 2022 to USD 154.1 billion by 2030, at a CAGR of 17.2% from 2022 to 2030.

The report “Digital Battlefield Market by Solution (Hardware, Software, Service) Platform (Airborne, Naval, Land, Space), Application, Technology (Artificial Intelligence, IOT, Big Data, 5G, Cloud Computing and Master Data Management) Region – Global Forecast to 2030” The global digital battlefield market is estimated at USD 43.2 billion in 2022 and is projected to reach USD 154.1 billion by 2030, at a CAGR of 17.2% from 2022 to 2030. Due to military improvements and new purchase projects, demand among defense forces has remained robust, especially in developed and developing countries like the US, India, and China, among others. High demand for devices supporting 5G technology for high-speed data transfer, rapid advancement in artificial intelligence, Big Data analytics, and robotics technologies are some of the key factors driving this market. Others include increasing inclination toward cloud services in military & defense, rising modernization and investments in the defense sector, development of military equipment, and foreign intelligence platforms.

• Informational PDF Brochure :- https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=73234342

Browse 389 market data Tables and 82 Figures spread through 402 Pages and in-depth TOC on “Digital Battlefield Market by Region – Global Forecast to 2030” View detailed Table of Content here –  https://www.marketsandmarkets.com/Market-Reports/digital-battlefield-market-73234342.html

Digital Battlefield Market

Digital battlefield products are among the vital requirements of defense and intelligence agencies across countries. Hence, military and intelligence agencies are the key end users, showcasing more demand for such equipment. Companies such as Northrop Grumman Corporation (US), Lockheed Martin Corporation (US), and General Dynamics Corporation (US) received contracts for the supply of digital battlefield products to the defense forces of various countries from 2019 to 2022.

Rising modernization of military equipment to strengthen defense forces is driving the growth of the digital battlefield products in defense applications

The rising focus of defense forces across the globe on modernizing their military equipment, including digital battlefield products, will propel market growth. For instance, in June 2022, during a communications exercise, Raytheon Intelligence & Space, a division of Raytheon Technologies, successfully demonstrated machine-to-machine connectivity across numerous assets. The Raytheon Multi-Program Test bed (RMT-727), an aerial KC-135, a ground station at Beale Air Force Base in California, and a satellite were all connected by RI&S throughout the exercise to meet several requirements for joint war fighting missions in the multi-domain battle space.

A number of states are creating specialized departments or agencies to focus on building new capabilities for the digital battlefield while integrating Al capabilities into the machinery already in place. Over the anticipated timeframe, initiatives by such organizations—including the Strategic Council for Al Technologies (Japan), The National Science and Technology Council (US), and the Al Council (UK)—will assist the expansion of the digital battlefield market.

Based on platform, During the forecast period, the digital battlefield markets space sector is anticipated to experience the greatest CAGR.

The market is divided into four categories based on platform: airborne, terrestrial, naval, and space. According to CAGR, the space sector is anticipated to see the largest CAGR between 2022 and 2030. Real-time mapping of objects on Earth is made possible by digital battlefield systems installed in space platforms, which also provide satellite communication networks. This will significantly boost the growth of the space market. The airborne category is anticipated to dominate the digital battlefield market from 2022 to 2030, depending on the platform. The expansion of the airborne market is due to the military growing preference for digital battlefield equipment and systems.

The digital battlefield market by installations new procurement sub-segment is anticipated to grow at the greatest CAGR due to a growing global emphasis on installing defense equipment

According to forecasts, from 2022 to 2030, the new procurement segment will dominate the digital battlefield industry. The installation of more sophisticated defense systems and the expanding purchase of digital battlefield goods for combat personnel are the two factors driving the growth in the new procurement category. Due to the increased modification and modernization activities of outdated military electronic equipment by defense forces to acquire a competitive advantage over impending threats and hostile attacks, the upgrades segment will experience significant growth.

From 2022 to 2030, the digital battlefield industry is expected to be dominated by the North American market.

In 2022, North America is anticipated to hold the greatest market share for digital battlefields (41.93%). With its robust economic and defense policies, the US is acknowledged as one of the major producers, exporters, and users of digital battlefield systems in North America.

The new defense strategy of the US indicates an increase in military spending to include advanced capabilities in existing defense systems of the US Army to counter incoming threats. Key manufacturers and developers of AI systems in the US include Lockheed Martin Corporation (US), Northrop Grumman Corporation (US), L3Harris Technologies, Inc (US), and Raytheon Technologies Corporation(US).

The digital battlefield market is dominated by a few globally established players such as BAE Systems (UK), Northrop Grumman Corporation (US), Raytheon Technologies Corporation (US), Lockheed Martin Corporation (US), and Thales Group (US), among others.

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