Press release
Combat Management System Market Growth Size, Share, Industry Analysis, Future Growth, Business Prospects and Forecast by 2028
The combat management system market size amounted to USD 755.8 million in 2020 worldwide. The market valuation is slated to grow from USD 804.9 million in 2021 to USD 1,249.86 million in 2028 at a CAGR of 6.49% during 2021-2028. The market is gaining traction globally from increasing investments in the military & defense sector. The Stockholm International Peace Research Institute (SIPRI) reports that the global military expenditure progressed to USD 1,981 billion in 2020, a rise of 2.6% and 9.3% from 2019 and 2011 respectively. Fortune Business Insights presents this information in its report titled "Combat Management System Market, 2021-2028."
Combat Management System (CMS) is a technology designed for military purposes that enables precision target delivery, critical mission systems, situational awareness, and other shipborne systems to accomplish high accuracy in critical combat operations. The demand for such systems is increasing gradually as countries across the world seek to strengthen their respective military & defense sectors. Unmanned systems such as Unmanned Aerial Vehicles (UAVs) and Unmanned Underwater Vehicles (UUVs) are experiencing high adoption. To meet these demands, OEMs are emphasizing product development and innovation through accelerated R&D efforts. The aforementioned factors suggest that CMS will gain substantial prominence in the forthcoming years.
Get Sample PDF Brochure:
https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/combat-management-system-market-101820
Segments:
Based on component type, the market is bifurcated into software and hardware. The hardware segment is further classified into control consoles, data network switches, and combat data center.
On the basis of sub-system, the market is divided into self-defense management system, track management systems, situational awareness system, weapon management system, identification system, display system, and unmanned vehicle control system.
By platform, the market is segmented into destroyer, frigate, submarine, amphibious ship, fast attack craft (FAC), corvette, and aircraft carrier.
Geographically, the market is split into North America, Europe, Asia Pacific, the Middle East, and Rest of the World.
Report Coverage
The report offers:
Major growth drivers, restraining factors, opportunities, and potential challenges for the market
Comprehensive insights into the regional developments
List of major industry players
Key strategies adopted by the market players
Latest industry developments such as product launches, partnerships, mergers, and acquisitions
Driving & Restraints:
Advancing Landscape of CMS Technology to Create Lucrative Opportunities
The global combat management system market growth will be driven by the advancing landscape of CMS technology. The market is continuously witnessing new technological innovations such as AI-based combat systems, integrated naval combat mission management systems, naval fleet modernization systems, naval combat subsystems, and other solutions. The implementation of combat system virtualization helps aggregate consoles and mission computers in the physical server, thereby enhancing efficiency, flexibility, and reliability.
Next-generation systems are equipped with digital interfaces of subsystems built with high degree of intelligence. For example, Saab Australia bagged an enterprise partnering agreement from the Australian Department of Defense for the supply of CMS for Royal Australian Navy fleets such as Arafura-class offshore patrol ships, ANZAC-class frigates, supply-class replenishment ships, military survey vessels, and mine countermeasures ships.
However, high initial costs associated with CMS technology, its components, and their implementation could affect the market growth to some extent.
Inquire Before Buying This Research Report:
https://www.fortunebusinessinsights.com/enquiry/queries/combat-management-system-market-101820
Regional Insights:
North America to Grow Substantially Led by Increasing Military Investments
North America is expected to account for a major percentage of the global combat management system market share during the projected period. The regional growth is influenced by increased military investments across the U.S. CMS will experience growing demand in the region led by the need for fleet modernization, improved situational awareness, and interoperability from the U.S. Navy.
The Europe market will record notable growth led by the presence of major OEMs, including Thales Group, BAE Systems PLC, and Kongsberg Gruppen ASA.
Meanwhile, the market in Asia Pacific will be driven by the rising military expenditure across India, China, Japan, and other countries.
Industry Developments:
January 2021- the U.S. Navy awarded a contract valued at USD 211.5 million to Leonardo DRS for the critical system hardware delivery and full-service life-cycle support services of AEGIS and Ship Self-Defense System (Combat Management Systems). Leonardo will provide services to the entire surface fleet through the sustainment program under the TI-16 combat system network, processing, display hardware, storage, and other surface vessel systems.
November 2020 - Damen Schelde Naval Shipbuilding and Thales Group signed a contract worth USD 1.78 billion to integrate on-board combat management and communication systems within the German Navy's MKS-180 class frigates. The agreement covers the supply of the Above Water Warfare System (AWWS) Fire Control Cluster and Tacticos CMS (Thales Combat and Mission Management System) for four MKS-180 class frigates with two additional option ships.
List of Key Players Profiled in the Report:
BAE Systems PLC (U.K.)
Elbit Systems Ltd. (Israel)
Kongsberg Gruppen ASA (Norway)
Leonardo S.p.A. (Italy)
Lockheed Martin Corporation (U.S.)
The Raytheon Company (U.S.)
Saab AB (Sweden)
Thales Group (France)
Israel Aerospace Industries Ltd. (Israel)
Leonardo DRS (formerly DRS Technologies, Inc.) (U.S.)
Northrop Grumman Corporation (U.S.)
Terma AS (Denmark)
L&T Defense Ltd. (India)
Hanwha Systems Co., Ltd (South Korea)
Bharat Electronics Limited (BEL) (India)
ATLAS ELEKTRONIK GmbH (Germany)
ASELSAN A.S. (Turkey)
Contact us for Customization in the Report:
https://www.fortunebusinessinsights.com/enquiry/customization/combat-management-system-market-101820
Contact Us:
Fortune Business Insights Pvt. Ltd.
9th Floor, Icon Tower,
Baner - Mahalunge Road, Baner,
Pune-411045, Maharashtra, India.
Phone:
US: +1 424 253 0390
UK: +44 2071 939123
APAC: +91 744 740 1245
Email: sales@fortunebusinessinsights.com
About Us:
Fortune Business Insights™ delivers accurate data and innovative corporate analysis, helping organizations of all sizes make appropriate decisions. We tailor novel solutions for our clients, assisting them to address various challenges distinct to their businesses. Our aim is to empower them with holistic market intelligence, providing a granular overview of the market they are operating in.
Combat Management System (CMS) is a technology designed for military purposes that enables precision target delivery, critical mission systems, situational awareness, and other shipborne systems to accomplish high accuracy in critical combat operations. The demand for such systems is increasing gradually as countries across the world seek to strengthen their respective military & defense sectors. Unmanned systems such as Unmanned Aerial Vehicles (UAVs) and Unmanned Underwater Vehicles (UUVs) are experiencing high adoption. To meet these demands, OEMs are emphasizing product development and innovation through accelerated R&D efforts. The aforementioned factors suggest that CMS will gain substantial prominence in the forthcoming years.
Get Sample PDF Brochure:
https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/combat-management-system-market-101820
Segments:
Based on component type, the market is bifurcated into software and hardware. The hardware segment is further classified into control consoles, data network switches, and combat data center.
On the basis of sub-system, the market is divided into self-defense management system, track management systems, situational awareness system, weapon management system, identification system, display system, and unmanned vehicle control system.
By platform, the market is segmented into destroyer, frigate, submarine, amphibious ship, fast attack craft (FAC), corvette, and aircraft carrier.
Geographically, the market is split into North America, Europe, Asia Pacific, the Middle East, and Rest of the World.
Report Coverage
The report offers:
Major growth drivers, restraining factors, opportunities, and potential challenges for the market
Comprehensive insights into the regional developments
List of major industry players
Key strategies adopted by the market players
Latest industry developments such as product launches, partnerships, mergers, and acquisitions
Driving & Restraints:
Advancing Landscape of CMS Technology to Create Lucrative Opportunities
The global combat management system market growth will be driven by the advancing landscape of CMS technology. The market is continuously witnessing new technological innovations such as AI-based combat systems, integrated naval combat mission management systems, naval fleet modernization systems, naval combat subsystems, and other solutions. The implementation of combat system virtualization helps aggregate consoles and mission computers in the physical server, thereby enhancing efficiency, flexibility, and reliability.
Next-generation systems are equipped with digital interfaces of subsystems built with high degree of intelligence. For example, Saab Australia bagged an enterprise partnering agreement from the Australian Department of Defense for the supply of CMS for Royal Australian Navy fleets such as Arafura-class offshore patrol ships, ANZAC-class frigates, supply-class replenishment ships, military survey vessels, and mine countermeasures ships.
However, high initial costs associated with CMS technology, its components, and their implementation could affect the market growth to some extent.
Inquire Before Buying This Research Report:
https://www.fortunebusinessinsights.com/enquiry/queries/combat-management-system-market-101820
Regional Insights:
North America to Grow Substantially Led by Increasing Military Investments
North America is expected to account for a major percentage of the global combat management system market share during the projected period. The regional growth is influenced by increased military investments across the U.S. CMS will experience growing demand in the region led by the need for fleet modernization, improved situational awareness, and interoperability from the U.S. Navy.
The Europe market will record notable growth led by the presence of major OEMs, including Thales Group, BAE Systems PLC, and Kongsberg Gruppen ASA.
Meanwhile, the market in Asia Pacific will be driven by the rising military expenditure across India, China, Japan, and other countries.
Industry Developments:
January 2021- the U.S. Navy awarded a contract valued at USD 211.5 million to Leonardo DRS for the critical system hardware delivery and full-service life-cycle support services of AEGIS and Ship Self-Defense System (Combat Management Systems). Leonardo will provide services to the entire surface fleet through the sustainment program under the TI-16 combat system network, processing, display hardware, storage, and other surface vessel systems.
November 2020 - Damen Schelde Naval Shipbuilding and Thales Group signed a contract worth USD 1.78 billion to integrate on-board combat management and communication systems within the German Navy's MKS-180 class frigates. The agreement covers the supply of the Above Water Warfare System (AWWS) Fire Control Cluster and Tacticos CMS (Thales Combat and Mission Management System) for four MKS-180 class frigates with two additional option ships.
List of Key Players Profiled in the Report:
BAE Systems PLC (U.K.)
Elbit Systems Ltd. (Israel)
Kongsberg Gruppen ASA (Norway)
Leonardo S.p.A. (Italy)
Lockheed Martin Corporation (U.S.)
The Raytheon Company (U.S.)
Saab AB (Sweden)
Thales Group (France)
Israel Aerospace Industries Ltd. (Israel)
Leonardo DRS (formerly DRS Technologies, Inc.) (U.S.)
Northrop Grumman Corporation (U.S.)
Terma AS (Denmark)
L&T Defense Ltd. (India)
Hanwha Systems Co., Ltd (South Korea)
Bharat Electronics Limited (BEL) (India)
ATLAS ELEKTRONIK GmbH (Germany)
ASELSAN A.S. (Turkey)
Contact us for Customization in the Report:
https://www.fortunebusinessinsights.com/enquiry/customization/combat-management-system-market-101820
Contact Us:
Fortune Business Insights Pvt. Ltd.
9th Floor, Icon Tower,
Baner - Mahalunge Road, Baner,
Pune-411045, Maharashtra, India.
Phone:
US: +1 424 253 0390
UK: +44 2071 939123
APAC: +91 744 740 1245
Email: sales@fortunebusinessinsights.com
About Us:
Fortune Business Insights™ delivers accurate data and innovative corporate analysis, helping organizations of all sizes make appropriate decisions. We tailor novel solutions for our clients, assisting them to address various challenges distinct to their businesses. Our aim is to empower them with holistic market intelligence, providing a granular overview of the market they are operating in.
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