The digital battlefield market is expected to be valued at US$ 61.7 billion in 2024. The demand is expected to progress at an exemplary rate over the forecast period, with a CAGR of 17.8%. By 2034, the value of the market is forecast to record a valuation of US$ 319.0 billion.
With army training becoming more extensive and military planning assuming an even more elevated stature, the digital battlefield space is becoming a prime concern for militaries. With geopolitical conflicts rising, militaries are becoming even more alert and spending on technology, thus laying out the groundwork for the digital battlefield. Governments, too, are encouraging the use of digital battlefields by granting more budget to technology adaption in militaries.
Technologies like AI, robotics, and drones are accelerating the use of digital battlefields. Software like AR/VR is aiding in the training of soldiers by replicating real-life battle situations with increasing accuracy. 5G technology is being used to improve the communication between various army elements.
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Digital battlefield solutions allow military personnel to take on-the-fly decisions and better execute strategies. The tracking of own and enemy soldiers with the help of GIS and GPS technologies is also seeing the digital battlefield gain more prominence.
“The avenues for the digital battlefield are rapidly expanding. In addition to traditional land strategies, digital planning is also helping armies in naval, air, and even space platforms. Thus, the scope of investment in the market remains wide,” says an analyst at FMI.
Key Takeaways from the Digital Battlefield Market
- The digital battlefield market is anticipated to be valued at US$ 61.7 billion in 2024.
- Land remains a prominent platform in the digital battlefield market. From 2024 to 2034, the segment is forecast to progress at 17.6%.
- Hardware is the leader in the solution segment. Hardware is predicted to progress at a CAGR of 17.4% for the forecast period.
- South Korea is one of the promising countries in the market. The CAGR for South Korea over the forecast period is anticipated to be 20.1%.
- Japan and China are other Asian countries poised to be lucrative for the market. For the 2024 to 2034 period, the CAGR for Japan and China is pegged at 19.6% and 18.7% respectively.
- The market is expected to register a CAGR of 18.2% in the United States over the forecast period.
Competition Analysis
Market players focus on securing lucrative contracts from governments, with relationship building also an area of focus. Partnerships among players are also often seen for critical infrastructure, cyber threats, and technology. Some prominent companies in the market include Raytheon Technologies Corporation, BAE Systems, Elbit Systems Ltd., and General Dynamics Corporation.
Recent Developments
- In June 2022, BAE Systems developed the Mobility Air Forces Automated Flight Planning Service, or MAFPS, for the United States Airforce.
- In April 2021, Raytheon Technologies launched the Stinger Virtual Trainer System to equip soldiers with training for the Stinger Missile Launcher.
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Key Segments
By Platform:
- Land
- Naval
- Aircraft
- Space
By Solution:
- Hardware
- Software
- Solutions
By Technology:
- Artificial Intelligence
- Internet of Things (IoT)
- Robotic Process Automation
- Cloud Computing and Master Data Management
- 5G
- Others
By Application:
- Warfare Platform
- Cyber Security
- Surveillance and Situational Awareness
- Command and Control
- Mobile Communication
- Simulation and Training
- Design and Manufacturing
- Electronic Warfare
- Others
By Region:
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Oceania
- The Middle East and Africa (MEA)
Author:
Sudip Saha is the managing director and co-founder at Future Market Insights, an award-winning market research and consulting firm. Sudip is committed to shaping the market research industry with credible solutions and constantly makes a buzz in the media with his thought leadership. His vast experience in market research and project management a consumer electronics will likely remain the leading end-use sector cross verticals in APAC, EMEA, and the Americas reflects his growth-oriented approach to clients.
He is a strong believer and proponent of innovation-based solutions, emphasizing customized solutions to meet one client’s requirements at a time. His foresightedness and visionary approach recently got him recognized as the ‘Global Icon in Business Consulting’ at the ET Inspiring Leaders Awards 2022.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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