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Major countries in each region are mapped according to their revenue contribution to the global Military and Defense Sensor market.
The global military and defense sensor market size valued at $8.3 billion in 2021, and is projected to reach $14.4 billion by 2031, growing at a CAGR of 5.8% from 2022 to 2031.” - Allied Market ResearchWILMINGTON, DE, UNITED STATES, January 2, 2025 /EINPresswire / -- According to the report published by Allied Market Research, the global military and defense sensor market garnered $8.26 billion in 2021 and is estimated to generate $14.43 billion by 2031, manifesting a CAGR of 5.79% from 2022 to 2031. The report provides an extensive analysis of changing market dynamics, major segments, value chains, competitive scenarios, and regional landscapes. This research offers valuable guidance to leading players, investors, shareholders, and startups in devising strategies for sustainable growth and gaining a competitive edge in the market.
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The research provides detailed segmentation of the global military and defense sensor market based on platform, component, application, and region. The report discusses segments and their sub-segments in detail with the help of tables and figures. Market players and investors can strategize according to the highest revenue-generating and fastest-growing segments mentioned in the report.
Based on the platform, the land segment held the highest share in 2021, accounting for more than two-thirds of the global military and defense sensor market, and is expected to continue its leadership status during the forecast period. However, the airborne segment is expected to register the highest CAGR of 6.77% from 2022 to 2031.
Key Benefits For Stakeholders
This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the military and defense sensor market analysis from 2021 to 2031 to identify the prevailing military and defense sensor market opportunities.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the military and defense sensor market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global military and defense sensor market trends, key players, market segments, application areas, and market growth strategies.
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Based on components, the hardware segment accounted for the highest share in 2021, contributing to more than 65% of the global military and defense sensor market, and is expected to maintain its lead in terms of revenue during the forecast period. However, the software segment is expected to manifest the highest CAGR of 7.69% from 2022 to 2031.
Based on application, the target recognition segment accounted for the highest share in 2021, holding a significant market share of the global military and defense sensor market, and is expected to continue its leadership status during the forecast period. However, the communication and navigation segment is estimated to grow at the highest CAGR of 8.62% during the forecast period.
Based on region, North America held the largest share in 2021, contributing to nearly half of the global military and defense sensor market share, and Europe is projected to grow with the highest CAGR during the forecast period. In addition, the Asia-Pacific region is expected to manifest a significant CAGR of 6.94% during the forecast period.
Leading market players of the global military and defense sensor market analyzed in the research include Thales Group, BAE Systems plc., Raytheon Company, Curtiss-Wright Corporation, Honeywell International Inc., Esterline Technologies Corporation, Kongsberg Gruppen ASA, TE Connectivity Ltd., Lockheed Martin Corporation, and Rockwest Solutions.
The report provides a detailed analysis of these key players in the global military and defense sensor market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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David Correa
Allied Market Research
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