Military Sensors Market by Platform (Airborne, Land, Naval, Munitions, Satellites), Application (Intelligence, surveillance & reconnaissance (ISR), Communication & Navigation, Combat system, Electronic warfare, Target recognition system, Command & Control, Weapon and fire control system Wearable, Cybersecurity, Simulation and training, Engine and operations system, Type, and Region (North America, Europe, Asia-Pacific, Middle East, Africa, and, South America).
The global Military Sensors Market size is projected to reach a CAGR of 7.7% from 2023-2030.
Military sensors are a subsystem of a weapon, aircraft, or electronic device that detects a change in its surrounding or scans its environment to gather information. The collected information is then relayed to another electronic system, normally to a computer processor for processing and analyzing data. Military sensors are used in missiles, combat, aircraft, and radars among a variety of systems for navigation, weapon control, active guidance, target tracking, and environmental awareness. Moreover, sensors such as electro-optical sensors can be used to detect fog, smoke, and dust.
The military sensors market is anticipated to grow rapidly in the forecast period owing to major driving factors such as rapid technological advancements coupled with the modernization of military systems in different countries. Furthermore, increasing government investments in the Defense sector is likely to augment the growth of the military sensors market.
On the other hand, market growth may negatively be influenced by the regulations associated with the transfer of weapons and related technologies during the forecast period.
The government initiative of lockdown to slow the spread of COVID-19 has impacted the military sensor developers due to workforce shortage. Sensor manufacturers are witnessing a lack of components supply, necessary for the development & manufacturing of military sensors, due to supply chain disruption caused by COVID-19. Defense contractors relying on an international workforce are facing short-term operational issues, due to government-imposed restrictions on travel to control the COVID-19 outbreak. Defense agencies are forced to delay ongoing projects as well as research & development in order to comply with the lockdown imposed by authorities.
The rising demand for intelligence, surveillance, and reconnaissance since it is a crucial component of modern warfare, providing situational awareness and targeting information to military commanders. Sensors play a key role in its operations, providing the necessary data to detect, track, and identify targets. Further, the integration of sensors with network-centric warfare (NCW) is creating new opportunities for the military sensors market. NCW enables military forces to share data and coordinate operations in real time, and sensors play a critical role in this process. Overall, the increasing geopolitical tension around the world, advancement in sensor technology, and demand for sensor-enabled unmanned systems drive the growth of the military sensor market and continue to grow in the next coming years.
North America to Dominate the Market