Man Portable Military Electronics Market Analysis | 2023-2028

Market Insights

The man portable military electronics market was estimated at USD 3.92 billion in 2022 and is likely to grow at a CAGR of 4.01% during 2023-2028 to reach USD 4.98 billion in 2028.

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Market Dynamics

Introduction

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 radios and weapon sight & scopes.

COVID-19 Impact

The market growth was affected when governments across geographies imposed lockdowns resulting in trade restrictions 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.

Market Drivers

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.

• Increasing terrorism activities and conflicts have resulted in an increased requirement for devices providing better connectivity and increasing defensive capabilities.
• This is likely to drive the growth of man-portable electronic devices at a significant rate during the review period.
• Additionally, growing demand for highly technologically advanced devices is likely to create lucrative opportunities for the market players over the forecast period.

Key Players

Top players operating in the man portable military electronics market are-

• Leonardo S.p.A. (Italy),
• BAE Systems plc (UK)
• 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),
• L3 Technologies (The U.S),
• Saab AB (Sweden),
• Lockheed Martin Corporation (The U.S),

Note: The above list does not necessarily include all the top players in the market.

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Segment Analysis

By Application Type

"Communication segment accounted for the largest share in 2022"

• 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 2022 on account of the widespread use of man-portable military electronics for military tactical communications during military missions.

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Regional Analysis

"North America market is accounted for the largest share in 2022"

• The market in North America accounted for the largest share in 2022.
• The market growth in the region can be attributed to the presence of a 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 a 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.

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Research Methodology

• This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s man portable military electronics market realities and future market possibilities for the forecast period.
• The report segments and analyzes the market in the most detailed manner to provide a panoramic view of the market.
• The vital data/information provided in the report can play a crucial role for market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate growth strategies to expedite their growth process.
• This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools.
• More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data.
• We conducted more than 15 detailed primary interviews with market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.

Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into market dynamics and will enable strategic decision-making for existing market players as well as those willing to enter the market. The following are the key features of the report:

• Market structure: Overview, industry life cycle analysis, supply chain analysis.
• Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis.
• Market trend and forecast analysis.
• Market segment trend and forecast.
• Competitive landscape and dynamics: Market share, Service portfolio, New Product Launches, etc.
• COVID-19 impact and its recovery curve
• Attractive market segments and associated growth opportunities.
• Emerging trends.
• Strategic growth opportunities for the existing and new players.
• Key success factors.

Market Segmentation

This report studies the market covering 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market.

The man portable military electronics market is segmented into the following categories:

By Type

• Portable Radio
• Weapon Sight & Scopes
• Thermal Imaging Systems
• Mini Unmanned Aerial Vehicles [M-UAVs])

By Application Type

• Communication
• Command & Control
• Ancillary Electronics
• EO/IR (Electro-Optical/Infrared)
• ISTAR (Intelligence, Surveillance, Target Acquisition, and Reconnaissance)

By End-User Type

• Army
• Navy
• Air Force
• Homeland Security

By Region

• North America (Country Analysis: The USA, Canada, and Mexico)
• Europe (Country Analysis: Germany, France, The UK, Russia, and the Rest of Europe)
• Asia-Pacific (Country Analysis: China, India, Australia, South Korea, and the Rest of Asia-Pacific)
• Rest of the World (Country Analysis: Saudi Arabia, Brazil, and Others)

Customization Options

Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to 3 players)
• SWOT analysis of key players (up to 3 players)

Competitive Benchmarking

• Benchmarking of key players on the following parameters: product portfolio, geographical reach, regional presence, and strategic alliances

Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to [email protected].