“The military embedded systems market is projected to grow at a CAGR of 13.60% from 2016 to 2021”
The military embedded systems market is expected to grow from USD 71.29 billion in 2016 to USD 134.88 billion by 2021. The military embedded systems market is predominantly driven by factors, such as increased use of multicore technologies, emergence of modern warfare systems such as electronic warfare and network centric warfare systems, and rising demand for wireless and cloud computing technologies. One of the significant factors hampering the market growth is the requirement of a system’s certification in case of system upgradation, which increases the expenses of the embedded system manufacturers.
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“On the basis of platform, land is expected to be the largest segment during the forecast period”
Land based systems cover weapon systems, armored vehicles, soldier systems, and other autonomous systems which are highly dependent on embedded systems. These land based systems can be used for offensive or defensive purposes. Many countries, such as the U.S., the U.K., China, India, and Japan are continuously upgrading their systems to enhance warfare capabilities, with new technologies, either by investing in R&D or directly procuring defense equipment from manufacturers. These manufacturers provide standardized products which integrate with the existing systems. Therefore, increasing investments in the modernization of the military in various countries will directly impact the military embedded systems market.
“On the basis of application, the electronic warfare segment is projected to grow at the highest CAGR during the forecast period”
The electronic warfare segment of the military embedded systems market, by application, is anticipated to grow at the highest CAGR during the forecast period, due to advancements in capabilities of air defense, next generation aircraft, cruise missiles, and anti-stealth radars and munitions.
“North America is expected to be the largest market while Asia-Pacific region is expected to be the highest-growing market for military embedded systems market”
The market in North America is led by the U.S. Increasing investment in defense equipment, institutional reforms, and advanced military capabilities which use embedded systems, highlights the demand for electronic defense equipment in the North American region, and this will drive the military embedded systems market.
The market Asia-Pacific is estimated to be led by China. Factors such as the development of weapons systems, unmanned systems and the development of network centric warfare capabilities are increasing the demand for electronic defense equipment, which would drive the military embedded systems market.
Break-up of profile of primary participants for this report:
• By Company Type – Tier 1 – 35%, Tier 2 – 45% , Tier 3 – 20%
• By Designation – C level – 35%, Director level – 25%, Others – 40%,
• By Region – North America 45%, Europe 20% Asia-Pacific 30%, RoW 5%
The key players operational in the military embedded systems market include Kontron AG (Germany), Curtiss-Wright Corporation (U.S.), Microsemi Corporation (U.S.), Mercury Systems Inc. (U.S.) among others. Other components manufactures such as Xilinx, Inc. (U.S.), Radisys Corporation (U.S.), Concurrent Technologies Plc. (U.K.), and Eurotech S.P.A (Italy).
Related Report:
Embedded Systems Market by Hardware (MPU MCU Application Specific IC Application Specific Standard Product DSP FPGA and Memory) Software (Middleware and Operating System) Application and Geography - Global Forecast to 2023
“Embedded systems market expected to grow at a significant rate between 2017 and 2023”
The embedded systems market is expected to grow at a CAGR of 4.05% between 2017 and 2023 and is expected to be valued at USD 110.46 billion by 2023. The key factors driving the growth of the embedded systems market are increasing adoption of embedded systems in the automotive industry, use of multicore processor technology in military applications, growing market for wearable devices, increase in usage of embedded systems in smart appliances of smart homes, and rising demand for embedded systems in healthcare equipment. However, the major restraining factor for the growth of this market is the security concern.
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