PUNE, India, January 18, 2017 /PRNewswire/ --
The report "Combat System Integration Market by Application (Land-based, Naval, Airborne), Platform (Large Ships, Medium Ships, Small Ships, Submarines, Fighter Aircraft, Combat Helicopters, Armored Vehicles/Artillery), Region - Global Forecast to 2022", published by MarketsandMarkets, the market is projected to grow from USD 4.26 Billion in 2016 to USD 25.46 Billion by 2022, at a CAGR of 34.7% during the forecast period, 2016 to 2022.
Browse 93 market data Tables and 60 Figures spread through 172 Pages and in-depth TOC on "Combat System Integration Market"
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This growth can be attributed to the increasing incidences of armed conflicts and terror attacks, which are driving the demand for combat systems, globally.
Among all platforms, the submarine segment led the combat system integration market
Based on platform, the submarine segment is anticipated to lead the combat system integration market from 2016 to 2022. Submarine is widely used by military forces worldwide for varied applications such as patrolling, target acquisition, tracking, and surveillance. Emerging countries such as China and India, among others are developing a large force of submarines. These countries are investing in Air-Independent Propulsion (AIP) technology and focusing on the manufacture of nuclear submarines. For instance, China launched the world's largest nuclear submarine known as TYPE 032 in 2010. India is also building six new nuclear submarines; in 2016, the country commissioned its new nuclear submarine, INS Arihant. Such developments are expected to fuel the growth of the combat system integration market in the submarine segment.
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The naval application segment is anticipated to grow at the highest CAGR during the forecast period
The combat system integration market has been segmented and analyzed on the basis of application into naval, airborne, and land-based. Based on application, the naval segment is projected to grow at the highest CAGR from 2016 to 2022. This growth is primarily driven by increase in the number of navy combat system modernization programs, procurement of new military equipment, and rise in defense spending, globally.
The U.S. and the U.K. to be opportunistic markets for combat system integration
The U.S. and the U.K. are expected to be key markets for combat system integration in the coming years; this market in the U.S. is projected to grow at the highest CAGR during the forecast period. Growth of the combat system integration market in G7 nations is mainly attributed to the increasing research & development activities undertaken for the development of advanced technology-based designs of combat systems. Integration helps in troubleshooting, maintaining, and repairing not only radars and communications systems but also flight controls and weapons systems.
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Leading players in the combat system integration market include Lockheed Martin Corporation (U.S.), BAE Systems PLC (U.K.), Raytheon Company (U.S.), Saab AB (Sweden), and Thales Group (France), among others.
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