According to a new market report published by Acute Market Reports Inc “Command and Control System Market - Growth, Share, Opportunities, Competitive Analysis, and Forecast 2020 – 2028.” Rising incidences of terror attacks in major countries of Middle East, Africa, Europe and Asia have shook the intelligence community, where further growth in such instances is anticipated with emergence in power of adversaries. Markets that were once dominated by North America and West Europe are moving towards East. Rapid developments in ICT technologies are further creating newer opportunities in the advanced electronic systems in intelligence community. In view of resurgence in the military expenditures worldwide, the global command & control system market is presumed to gain momentum. The aforementioned factors are expected to contribute towards a compounded annual growth rate of 3.2% over the forecast period 2020 – 2028.
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The global command & control system market was valued at US$ 15.17 Bn in 2018 and reached US$ 15.66 Bn in 2019. It is further expected to reach US$ 20.79 Bn by 2028, growing at a CAGR of 3.2% over the forecast period 2020 – 2028.
Based on platform, the global command & control system market was dominated by the land-based segment in the base year 2019. The segment accounted for about 50% of the overall market revenue in the same year. The land-based segment would be greatly benefitted by the continual upgrades of the existing security infrastructure. The trend shall prolong and the segment is presumed to retain its leading position throughout the forecast period 2020 - 2028. Other segments including air-based and sea-based command and control systems are expected to witness strong growth during the forecast period 2020 – 2028. The tensions between China and several South-east Asia countries in connection with territorial disputes in South China Sea has led to these countries boosting their sea-based intelligence portfolio.
In 2019, North America led the overall command and control system market. The revenue share of North America stood over 30% in the base year 2019. The command and control system market in matured economies like North America and Europe witnessed a slow-down at the beginning of this decade due to the economic downturn and cuts in defense expenditures. However, with economies recovering from the economic recession, the command and control system demand in these economies is all set to regain original growth levels, exhibiting steady growth over the forecast period 2020 – 2028. With continual technology advancements, the market would be benefitted from the replacement of obsolete systems with the state-of-the-art equivalents.
The key players of command and control system market The Boeing Company, Saab Group, BAE Systems plc., Lockheed Martin, Northrop Grumman Corporation, Harris Corporation, Elbit Systems Ltd., CACI International Inc., Rheinmetall AG and Thales-Raytheon Systems Company LLC. High competition is experienced among the major players of command and control system. Due to the constant up gradation of the command and control system and compatible hardware companies are facing cut-throat competition to remain dominant in the market. The survival of the market leaders does not depend upon the size of the company but on their efforts towards service enhancement so as to address the changing regulations and security concerns in the global market.
