The combat system integration market is projected to grow from USD 4.26 Billion in 2016 to USD 25.46 Billion by 2022, at a CAGR of 34.7% during the forecast period, 2016 to 2022. This growth can be attributed to the increasing incidences of armed conflicts and terror attacks, which are driving the demand for combat systems, globally
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In recent years, there has been a growing concern with regard to military security. In addition, the continuously changing battle scenario and increasing threat climate have resulted in the increased need to incorporate new technologies and integrate them with available systems.
These factors have contributed to the rise in demand for combat system integration. Governments of varied countries have adopted the concept of modernization to strengthen their military forces.
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This has further increased the demand for advanced and interlinked systems worldwide.
Over the past few years, countries such as Russia, China, India, South Korea, and Brazil have increased their defense spending. These countries have significantly enhanced and upgraded their surveillance capabilities and have carried out varied technological innovations, in terms of interoperability and open architecture.
Among all BRICS countries, China captured the maximum market share in the combat system integration market, in 2016.
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The BRICS countries are one of the largest markets for combat system integration. Integrated combat systems have become the backbone of military operations, as it helps reduce the overall complexity of warfare machines.
This has propelled major defense manufacturers and service providers in BRICS countries to develop technologically advanced and highly efficient combat systems as well as integrate unmanned systems with different platforms. The combat system integration market in BRICS is projected to grow at the highest CAGR during the forecast period, followed by G7 nations and RoW.
Growth of this market is mainly attributed to the need to upgrade military equipment and increase in military modernization programs.
The combat system integration market has also been segmented and analyzed on the basis of platform, application, and region. Among all platforms, the submarine segment is projected to grow at the highest CAGR from 2016 to 2022.
Based on application, the naval segment is expected to witness the highest growth during the forecast period. Technological advancements with respect to the design of anti-ship and anti-submarine weapons are anticipated to drive the growth of the combat system integration market in naval segment during the forecast period.
Key players operating in the combat system integration marketinclude Lockheed Martin Corporation (U.S.), BAE Systems PLC (U.K.), Raytheon Company (U.S.), Saab AB (Sweden), and Thales Group (France).
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