Defense Electronics Obsolescence Industry worth $3.7 billion by 2028
The report "Defense Electronics Obsolescence Market by System (Communication System; Navigation System; Human Machine Interface; Flight Control System; Targeting System; Electronic Warfare System; and Sensors), Type & Region - Global Forecast to 2028" The defense electronics obsolescence market is projected to grow from USD 2.5 billion in 2023 to USD 3.7 billion by 2028, at a CAGR of 8.2% from 2023 to 2028. The market growth can be attributed to the rapid technological advancements in defense electronics. The defense electronics obsolescence market includes major players Raytheon Technologies Corporation (US), BAE Systems (UK), L3Harris Technologies, Inc. (US), Thales (US) and Elbit Systems Ltd. (Israel). These players have spread their business across various countries includes North America, Europe, Asia Pacific, and Middle East.
Browse 122 market data Tables and 64 Figures spread through 234 Pages and in-depth TOC on "Defense Electronics Obsolescence Market by System (Communication System; Navigation System; Human Machine Interface; Flight Control System; Targeting System; Electronic Warfare System; and Sensors), Type & Region - Global Forecast to 2028"
View detailed Table of Content here - https://www.marketsandmarkets.com/Market-Reports/defense-electronics-obsolescence-market-78573340.html
Based on system, the communication segment is projected to grow at the highest CAGR during the forecast period.
The defense electronics obsolescence market has been classified into communication system; navigation system; human machine interface; flight control system; targeting system; electronic warfare system; and Sensors. The swift progression of technology frequently results in the rapid obsolescence of communication protocols and standards, requiring regular equipment replacements and updates to ensure compatibility and functionality. As a result, the communication methods become more outdated.
Based on platform, the Airborne platform will dominate the market during forcast period.
The defense electronics obsolescence market has been segmented into Land, Naval, and Airborne. Due to the high risk of obsolescence associated with the complex electronics used by military aircraft, such as radars, communication systems, helmet-mounted displays (HMDs), palletized loading systems (PLS), and aerial delivery systems, the airborne segment is expected to dominate the market.
The North America region is projected to be a high growth potential market during the forecast period.
The defense electronics obsolescence market is poised for significant growth, with North America projected to emerge as the region with the highest potential for expansion. As technological advancements continue to drive rapid obsolescence within defense systems, North American companies stand at the forefront of addressing these challenges, leveraging their strong industrial base, innovation ecosystem, and strategic partnerships.
The major players include Raytheon Technologies Corporation (US), BAE Systems (UK), L3Harris Technologies, Inc. (US), Thales (US) and Elbit Systems Ltd. (Israel).
About MarketsandMarkets™
MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.
The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
Built on the ’GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.
Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
[email protected]
- Triangulate with your Own Data
- Get Data as per your Format and Definition
- Gain a Deeper Dive on a Specific Application, Geography, Customer or Competitor
- Any level of Personalization
- What are the Known and Unknown Adjacencies Impacting the Defense Electronics Obsolescence Market
- What will your New Revenue Sources be?
- Who will be your Top Customer; what will make them switch?
- Defend your Market Share or Win Competitors
- Get a Scorecard for Target Partners
