Press release
Military Embedded Systems Market Outlook 2024: Exclusive Report By The Business Research Company
Military Embedded Systems Market
The Business Research Company offers in-depth market insights through Military Embedded Systems Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The military embedded systems market size has grown strongly in recent years. It will grow from $1.62 billion in 2023 to $1.78 billion in 2024 at a compound annual growth rate (CAGR) of 9.9%. The growth in the historic period can be attributed to advancements in microelectronics, global security challenges, demand for real-time data processing, cybersecurity concerns, evolution of unmanned systems..
The military embedded systems market size is expected to see strong growth in the next few years. It will grow to $2.56 billion in 2028 at a compound annual growth rate (CAGR) of 9.5%. The growth in the forecast period can be attributed to interoperability in joint operations, enhanced cyber resilience, focus on energy efficiency, application in space-based systems, use in hypersonic weapon systems, global military modernization initiatives.. Major trends in the forecast period include rapid advancements in processing power, increased use of high-performance computing (hpc), focus on size, weight, and power (swap) optimization, integration of artificial intelligence (ai) and machine learning (ml), use of open architecture standards, multi-domain operations capability..
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Market Segmentation:
The military embedded systems market covered in this report is segmented -
1) By Component: Hardware, Software
2) By Installation Type: New installation, Upgradation
3) By Platform: Land, Airbone, Naval, Space
4) By Technology: Edge Computing, Fog Computing, Mist Computing
5) By Applcation: Intelligence, Surveillance, And Reconnaissance (ISR), Command and Control, Communication and Navigation, Electronic Warfare (EW), Weapon And Fire Control, Wearable, Other Applications
Major Driver - Global Terrorism Propels Demand For Military Embedded Systems
The increasing global terrorism is expected to propel the growth of the military embedded systems market going forward. Terrorism refers to a non-state actor who threatens or uses illegal force and violence to achieve a political, economic, religious, or social purpose through fear, compulsion, or intimidation. Security screening systems, such as military embedded systems, are in greater demand today than they have ever been before because they are used in the military and other applications that help track terrorists. For instance, in March 2022, according to the Global Terrorism Index, a global organization that provides information on terrorism, global terrorist attacks increased to 5.2k in 2021. Myanmar experienced the greatest increase in terrorism, with 521 deaths, up by 20 times and an increase of 17% from the previous year. Therefore, the rising terrorism in the world drives the security screening market.
Competitive Landscape:
Major companies operating in the military embedded systems market report are Xilinx Inc., Mercury Systems Inc., Curtiss-Wright Corporation, Kontron (S&T), SMART Embedded Computing, Advantech Co Ltd., Thales Group, Abaco Systems, Microsemi Corporation, General Micro Systems Inc., BAE Systems, Intel Corporation, Radisys Corporation, Telephonics Corporation, General Dynamics Corporation, Raytheon Company, Rockwell Collins, AMETEK, Apple Inc., Saab AB, Boeing, Concurrent Technologies, Crystal Group Inc., Elma Electronic Inc., Excalibur Systems, Northrop Grumman Corporation, ECRIN Systems, Harris Corporation, Honeywell International Inc., IBM Corporation
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Top Trend - AI-Based Military Embedded System For Aircraft Engine Inspection
Product innovations have emerged as the key trend gaining popularity in the military embedded systems market. Major companies operating in the military embedded system market are focused on developing new products to meet customer demand. For instance, in June 2023, Pratt & Whitney, a US-based aerospace company, launched the Percept, an AI-based aircraft engine inspection tool. It is a new advanced aircraft engine monitoring tool that incorporates artificial intelligence that can provide maintenance personnel with real-time information on parts availability. Percept, a military embedded system, is a multi-sensor AI platform that provides real-time situational awareness and decision support for military operations. Users of the cloud-based computing system can record and take pictures of aircraft engines using a mobile device and instantly get comprehensive information about the parts' availability. Percept can make it possible for leased engines to be returned more quickly and affordably. Percept automates engine inspections, saving an inspector time by 90% by eliminating the need for an inspector to dissect and verify each component of the engine one by one.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Military Embedded Systems Market Characteristics
3. Military Embedded Systems Market Trends And Strategies
4. Military Embedded Systems Market - Macro Economic Scenario
5. Military Embedded Systems Market Size And Growth
…..
27. Military Embedded Systems Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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