Man Portable Military Electronics Market Report
Global Man Portable Military Electronics Market, Dynamics, Market Analysis See less
Global Man Portable Military Electronics Market, Dynamics, Market Analysis
Global Man Portable Military Electronics Market is segmented By Type (Portable Radio, Weapon Sight & Scopes, Thermal Imaging Systems, Mini Unmanned Aerial Vehicles [M-UAVs]), By Application (Communication, Command & Control, Ancillary Electronics, EO/IR (Electro-Optical/Infrared), ISTAR (Intelligence, Surveillance, Target Acquisition and Reconnaissance)), By End-User (Army, Navy, Air Force, Homeland Security), and Region.
This market research report provides in-depth information on trends, dynamics, revenue opportunities, competitive landscape, and recent developments in the global Man Portable Military Electronics market. The historic years considered for the study are 2016-2019, the base year is 2020, the estimated year is 2021, and the forecast period is 2022-2026.
The Global Man Portable Military Electronics Market is estimated to grow from USD 3.6 billion in 2020 to USD 4.6 billion by 2026 at a healthy CAGR of 4.2% during the forecast period.
Figure: Global Man Portable Military Electronics Market Size, 2020-2026 (USD Billion)
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What are Man-portable military electronics?
The Man-portable military electronics are designed to improve the safety, connectivity, and protection of troops on the battlefield. It also helps to counter-terrorism operations. They receive and transmit signals such as video, audio, and data through satellite connectivity. The man-portable military electronic devices include portable radio and weapon sight & scopes.
Key players operating in the global man portable military electronics market are-
Growing demand for electronic devices aimed at improving the safety and security of troops is driving the growth of the global man-portable military electronics market.
Based on application, the market has been divided into communication, command & control, ancillary electronics, EO/IR (electro-optical/infrared) and ISTAR (intelligence, surveillance, target acquisition and reconnaissance).
The communication segment accounted for the largest share in 2020 on account of the widespread use of man-portable military electronics for military tactical communications during military missions.
The market in North America accounted for the largest share in 2020. The market growth in the region can be attributed to the presence of strong military industry and key market players such as Harris Corporation (The U.S), General Dynamics Corporation (The U.S), and Northrop Grumman Corporation (The U.S). The market in Asia-Pacific is projected to register healthy CAGR during the review period. This can be attributed to increasing spending on military equipment by the government to bolster the military power of the country.
The market growth was affected when the governments across geographies-imposed lockdown as it resulted in trade restriction and supply chain disruptions. Many market players had to shut their production spaces which affected the market growth. However, with the lift of lockdown, the demand for man-portable military electronics is likely to gain pace.
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Here is the list of the group of customers that the Man-portable military electronics market hopes to have the greatest opportunity to convert-
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The man portable military electronics market is expected to witness an impressive growth of 4.2% CAGR in the foreseeable future.
Harris Corporation (The U.S), General Dynamics Corporation (The U.S), Northrop Grumman Corporation (The U.S), Elbit Systems Ltd (Israel), Exelis Inc. (The U.S), Codan Limited (Australia), FLIR Systems (The U.S), Aselsan (Turkey), Leonardo S.p.A. (Italy), L3 Technologies (The U.S), Saab AB (Sweden), Lockheed Martin Corporation (The U.S) and BAE Systems plc (UK) are among the key players in the man portable military electronics market.
The man portable military electronics market size is expected to reach USD 4.6 billion in the coming years.
North America accounted for the largest share of the man portable military electronics market in 2020.
The communication segment accounted for the largest share of man portable military electronics market in 2020.
Growing demand for electronic devices aimed at improving the safety and security of troops, increasing terrorism activities and conflicts, growing demand for high technologically advanced devices are the factors driving the growth of man portable military electronics market.
Man-portable military electronics distributors, Man-portable military electronics suppliers, Man-portable military electronics manufacturers, Logistics organizations, Government Bodies are the target audience in the man portable military electronics market.
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