(MENAFN- GlobeNewsWire - Nasdaq) Dublin, Jan. 07, 2025 (GLOBE NEWSWIRE) -- The "Defence Electronics Obsolescence market Report 2024-2034" report has been added to ResearchAndMarkets.com's offering.
Overall world revenue for the Defence Electronics Obsolescence will surpass US$2.8 billion in 2024
This report will prove invaluable to leading firms striving for new revenue pockets if they wish to better understand the industry and its underlying dynamics. It will be useful for companies that would like to expand into different industries or to expand their existing operations in a new region.
North America Dominated the Market
Over the projected period, the North American region is estimated to continue to dominate the global market. Because of its strong industrial foundation, cutting-edge technology, and large defence budget, top North American businesses are creating complex obsolescence management plans that are suited to the particular needs of different platforms, such as aerial, aquatic, and terrestrial systems.
These companies enable the military to maintain its operational readiness and technology lead by leading efforts to manage obsolescence. They accomplish this by carefully allocating funds for innovation, teamwork, and research and development (R&D). For the sake of maintaining stability in an increasingly complex geopolitical environment and defending national security interests, North America must continue to dominate the defence electronics obsolescence industry.
Land Platform Segment to Offer New Avenues
The defence electronics obsolescence market forecast period is expected to witness a noteworthy compound annual growth rate (CAGR) for the land segment. Obsolescence management is becoming more and more necessary in land-based defence systems including command and control centres, artillery systems, and armoured vehicles because of their growing complexity and reliance on electronics. These systems combine a variety of electronic parts and systems, such as computing devices, communication systems, sensors, and systems that are prone to obsolescence.
Further driving this demand is the land segment's increasing need for modernisation and upgrade projects due to shifting security threats, changing mission objectives, and the desire for interoperability with allied forces. These modernisation initiatives frequently involve the integration of new electronic systems and technologies, which may cause problems with the obsolescence of older systems.
Key Questions Answered
How is the Defence electronics obsolescence market evolving? What is driving and restraining the Defence electronics obsolescence market? How will each Defence electronics obsolescence submarket segment grow over the forecast period and how much revenue will these submarkets account for in 2034? How will the market shares for each Defence electronics obsolescence submarket develop from 2024 to 2034? What will be the main driver for the overall market from 2024 to 2034? Will leading Defence electronics obsolescence markets broadly follow the macroeconomic dynamics, or will individual national markets outperform others? How will the market shares of the national markets change by 2034 and which geographical region will lead the market in 2034? Who are the leading players and what are their prospects over the forecast period? What are the Defence electronics obsolescence projects for these leading companies? How will the industry evolve during the period between 2024 and 2034? What are the implications of Defence electronics obsolescence projects taking place now and over the next 10 years? Is there a greater need for product commercialisation to further scale the Defence electronics obsolescence market? Where is the Defence electronics obsolescence market heading and how can you ensure you are at the forefront of the market? What are the best investment options for new product and service lines? What are the key prospects for moving companies into a new growth path and C-suite?
Forecasts to 2034 and other analyses reveal commercial prospects
In addition to revenue forecasting to 2034, the new study provides you with recent results, growth rates, and market shares. You will find original analyses, with business outlooks and developments. Discover qualitative analyses (including market dynamics, drivers, opportunities, restraints and challenges), porter's five forces model, and recent developments.
Defence Electronics Obsolescence Dynamics
Market Driving Factors
Advancements in Defense Electronics Industry Stringent Regulations and Standards
Market Restraining Factors
High Cost of System Upgrades Challenges Associated with the Industry
Market Opportunities
Regulatory Framework
Emerging Markets and Megatrends
Porter's Five Forces Analysis
PEST Analysis
Leading companies profiled in the report
Actia Group BAE Systems Altium Raytheon Technologies Corporation Elbit Systems Ltd. Like Technologies Assel Poland Whistler Technology Hexagon AB L3Harris Technologies, Inc. Leonardo S.P.A Lockheed Martin Corporation Northrop Grumman Thales Group
Segments Covered in the Report
System
Communication System Navigation System Human Machine Interface Flight Control System Targeting System Electronic Warfare System Sensors
Platform
Type
Logistics Obsolescence Functional Obsolescence Technology Obsolescence
North America
Europe
Germany UK France Spain Italy Rest of Europe
Asia Pacific
China Japan India Australia South Korea Rest of Asia Pacific
Latin America
Brazil Mexico Rest of Latin America
MEA
GCC South Africa Rest of MEA
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