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Top Trend in Global Man-portable Military Electronics Market - Increasing Joint R&D Programs between Government and Manufacturers
Man-Portable Military Electronics Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019
Published 23 October 2015
The main driving force behind the growth of the global man-portable military electronics market is the growing soldier modernization programs contracted by military forces around the world. Nations such as the U.S., India, France, and Australia have undertaken military modernization initiatives on a grand scale. These long-term programs will continue to add to the demand for man-portable military electronics in the foreseeable future.
Another factor driving the global man-portable military electronics market is the increasing demand for innovative man-portable equipment that is more compact, lighter, and uses less power. The growing demand for miniature UAVs will also push the category sales in the man-portable military electronics market. Furthermore, introduction and integration of cognitive radios with other communication systems will fuel the growth of the global man-portable military electronics market.
On the other hand, lack of technological capabilities that enable network-centric military communications for man-portable electronics will suppress this market. Additionally, growing defense budget cuts globally will also somewhat constrict the growth of the global man-portable military electronics market.
Joint R&D Programs to Significantly Influence Global Man-portable Military Electronics Market
One of the most influential trends shaping the global man-portable military electronics market is the rising number of joint research and development programs between the manufacturing companies and government. Some of the top programs in this industry include JTRS HMS program, F-INAS (Future Infantry Soldier as a System) program, FN-6 MANPADS procurement, Night Vision Devices and Thermal Weapon Sights procurement, and Software and Systems Engineering Services program.
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According to a leading market research firm based in the U.S., the global man-portable military electronics market will grow at a moderate CAGR of 3.8% during the forecast period of 2013 to 2019. The market was valued at US$15,100.0 million in 2012 and will reach a total value of US$19,674.5 million by the end of 2019.
Communications Sector to Lead Global Man-portable Military Electronics Market
The global man-portable military electronics market is broadly divided into imaging, command and control, force protection, communications, ancillary electronics, and ISTAR (intelligence, surveillance, target acquisition, and reconnaissance). The communication sector led the global man-portable military electronics market with a significant share of 45.5% in 2012. This segment will continue to demonstrate a high growth rate, as manpack radios and transceivers are the most common communication equipment that deliver direct link communications and advanced situational awareness to soldiers. The communications segment of the man-portable military electronics market will demonstrate a CAGR of 4.1% during the forecast period.
Geographically, the global man-portable military electronics market is divided into North America, Asia Pacific, Europe, and Rest of the World. Till date, the North American man-portable military electronics market dominates the global market. The growth and development of the North American man-portable military electronics market is soaring, which can be attributed to technological advancements coupled with administrative willingness to spend significantly on various military products and technologies in the defense sector.
Another region expected to stay abreast of the competition in this industry is the Asia Pacific market. Several nations in Asia Pacific are currently engaging in military modernization programs. This will fuel the Asia Pacific market for man-portable military electronics during the forecast period. Other nations such as Turkey, Brazil, and the U.A.E. will also support the growth of the global man-portable military electronics market in the coming years.
The second leading regional market in the man-portable military electronics market will be Europe. European nations have rapidly expanded their counter-terrorisms operations and are currently being recognized for significant investments in military technologies. As a result, the European market for man-portable military electronics will show a promising growth in the coming years.
The top companies operating in the global man-portable military electronics market are Codan Limited, ASELSAN Inc., Elbit Systems Ltd., Finmeccanica S.p.A., Exelis Inc., Harris Corp., FLIR Systems, Inc., and Rockwell Collins, Inc.
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