Mission Management Systems Market Worth $27.50 Billion by 2022
Albany, NY, USA, Oct-14, 2019 /(Aerospace NEWS)-- The report "Mission Management Systems Market by Application (Defense, Commercial), End-User (Air Based, Naval Based, Land Based and Unmanned Systems Based) and Region (North America, Europe, Asia-Pacific, Rest of the World) - Global Forecast to 2022", published by MarketsandMarkets, is projected to grow from USD 13.97 Billion in 2016 to USD 27.50 Billion by 2022 at a CAGR of 11.95% from 2016 to 2022.
Browse 68 market data Tables and 53 Figures spread through 140 Pages and in-depth TOC on "Mission Management Systems Market"
Need for surveillance, border patrolling & security, search & rescue, combat management system, and sensor and weapon management, have been key parameters for the development of mission management systems
Based on application, the defense segment is projected to lead the mission management systems market during the forecast period
Based on application, the defense segment is projected the mission management systems market. The defense forces are investing heavily on new technologies to modernize their forces and determine the best technology that offers exceptional performance in the long run with lesser development cost.
Based on end user, the air segment is estimated to grow at the highest CAGR during the forecast period
On the basis of end user, the air system segment of the mission management systems market is anticipated to grow at the highest CAGR during the forecast period. The use of network centric warfare for air-based end users is one of the important factors that drives this market since active radar sensor tracking objects moving in air can provide accurate ranging measurements.
North America is estimated to be the largest market for mission management systems
North America led the mission management systems market in 2016. Countries in this region include the U.S. and Canada. Significant investments in research and development in mission management systems for the army and special operations, and increasing demand of unmanned systems, and sensors are some of the factors expected to boost the growth of the mission management systems market in this region. The U.S. is expected to contribute majorly to the growth of the mission management systems market in North America. The growth can be attributed to the ongoing technological advancements in the country.
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Major players in the mission management systems market are Lockheed Martin Corporation (U.S.), SAAB AB (Sweden), Thales Group (France), Northrop Grumman Corporation (U.S.), Honeywell International, Inc. (U.S.), Curtiss-Wright Corporation (U.S.), and QinetiQ Group plc. (U.K.), among others.
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