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Military Modernization to Help Man-Portable Military Electronics Market Reach US$19,674.5 Mn by 2019
Man-Portable Military Electronics Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019
Published 09 October 2015
Technological advancement and increased spending on military products and technologies has enabled North America to emerge as the leader of the global man-portable military electronics market, states a recent report by Transparency Market Research. The report, titled “Man-Portable Military Electronics Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019”, is available for sale on the company website.The 128-page report states that the global market for man-portable military electronics will grow from a value of US$15,100.0 million in 2012 to US$19, 674.5 million by 2019. According to these figures, the man-portable military electronics market is projected to develop at a 3.8% CAGR from 2013 to 2019.
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On the basis of product type, the man-portable military electronics market is segmented into force protection, ancillary electronics, imaging, ISTAR (intelligence, surveillance, target acquisition, and reconnaissance), communications, and command and control. Communication was the largest segment of the man-portable military electronics market, accounting for a 45.5% share in 2012. The only means of direct link communication and advanced situational awareness for dismounted soldiers is via manpack radios and transceivers. Countries in Asia Pacific such as India and South Korea, under the aim of digitalizing their military forces, are in the process of replacing their legacy systems with modern means of communication. As a result, this segment is likely to gain recognition over the next few years, growing at a 4.1% CAGR from 2013 to 2019.
The undertaking of military and soldier modernization by armed forces around the world is a factor that has boosted the demand for communication as well as other man-portable military electronics. Long-term programs in countries such as France, the U.S., and Australia has also resulted in the rising demand for miniature unmanned aerial vehicles (M-UAVs), thereby fueling the growth of the global man-portable military electronics market. Apart from this, demand for equipment that is lightweight, compact, and power-efficient has propelled the overall market. Rise in R&D collaborations between manufacturing companies and government agencies, untapped potential in emerging economies, and introduction of cognitive radios with other systems of communication are anticipated to further the growth of the market in the coming years.
In contrast, cuts in defense budgets and lack of technological capabilities that allow network-centric military communications are expected to impede the growth of the man-portable military electronics market.Some of the prominent players in the man-portable military electronics market are Exelis Inc., FLIR Systems, Inc., Harris Corporation, SAAB Group, General Dynamics Corporation, Thales Group, Rockwell Collins, Inc., Safran S.A., ASELSAN Inc., FinmeccanicaS.p.A., AeroVironment, Inc., Sierra Nevada Corporation, Codan Limited, L-3 Communications Holdings, Inc., and Elbit Systems Ltd.
Browse the full Man-Portable Military Electronics Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019 Research Report With Complete TOC @ http://www.transparencymarketresearch.com/man-portable-military-electronics-market.html
Based on aspects such as company and financial overview, recent developments, business strategies, strengths, weaknesses, opportunities, and threats, the man-portable military electronics market report profiles and evaluates each of these companies, together with a list of suggestions to improve their market share.
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Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
TMR’s data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.
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