The demand for digital battlefields is anticipated to grow over the projection period of 2021 to 2031 at an excellent CAGR of over 14%, according to Fact. most MR’s recent analysis. The development of market players over the coming years will depend heavily on AI developments in virtual battlefields for the defense industry.
A recent Fact.MR analysis of the digital warfare market provides a 10-year forecast for the years 2021 to 2031. The analysis examines significant trends that are currently influencing the market’s expansion. The evolution of digital battlefields has important aspects that this study explains, including the drivers, restraints, and opportunities for key market participants, key stakeholders, and emerging players.
Important conclusions from the market study
Space digital battlefield to exhibit a CAGR of over 16% through 2032; New procurement digital battlefields to account for 50% of revenue by installation;
• Nearly 16 percent of the market for digital battlefields will be AI-based in 2022, with hardware-based solutions making up more than half of sales.
China will account for close to 13% of the worldwide market for digital battlefields; North America will generate an absolute dollar opportunity worth $23.2 billion;
In 2022, the global market for digital battlefields is anticipated to be worth US$35 billion.
• The Spanish Navy awarded Lockheed Martin Corporation a contract worth more than USD 519 million in April 2020 for providing sensor and radar systems using the Aegis Combat System (ACS) (ACS).
• The US Air Force chose Raytheon Technologies Corporation in June 2020 to take part in an IDIQ contract worth more than USD 950 million to create an Advanced Battle Management System (ABMS) to connect military platforms around the world.
The ACS uses a combination of computer and radar systems to detect, track, and destroy targets and missiles. Future battlespace for the US Air Force is anticipated to change thanks to the ABMS.
The market study for “Digital Battlefield” provides vital answers to issues like:
• How will the Land Based Digital Battlefield market be doing at the end of the projection period?
• Which region contributes more to the global market for Naval Digital Battlefields, and why?
• Which companies continue to dominate the global market for digital space battles?
What production-footprint expansion prospects exist for the Digital Battlefield market’s participants?
Which market segment has the greatest influence on the global market for Digital Battlefields?
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