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12.07.2019 16:30
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Military Sensors Market Worth $33.2 Billion by 2024 - Exclusive Report by MarketsandMarkets™

CHICAGO, July 12, 2019 /PRNewswire/ -- According to the new market research report "Military Sensors Market by Application (Intelligence & Reconnaissance, Communication & Navigation, Combat Operations, Electronic Warfare, Target Recognition, Command and Control, Surveillance), Platform, Component, Region - Global Forecast to 2025", published by is MarketsandMarkets™, the Military Sensors Market is projected to grow from USD 24.7 billion in 2019 to USD 33.2 billion by 2025, at a CAGR of 5.1% from 2019 to 2025. The growth of the military sensors market can be attributed to the ongoing military modernization programs and rising demand for unmanned vehicles from defense forces of different countries across the globe.

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Based on application, the surveillance & monitoring segment is projected to lead the military sensors market during the forecast period.

Based on application, the surveillance & monitoring segment is projected to lead the military sensors market from 2019 to 2025. Countries such as China, India, Japan, and Indonesia are procuring aircraft and UAVs for surveillance activities. Increasing procurement of military systems for surveillance activities is expected to drive the growth of the surveillance & monitoring segment of the military sensors market.

Based on component, the hardware segment is projected to lead the military sensors market from 2019 to 2025.

Based on component, the hardware segment is projected to lead during the forecast period. Due to the development of the Internet of Things (IoT) and Micro-electromechanical system (MEMS) sensors, countries are upgrading their existing platforms with different types of sensors. The increasing demand and deployment of sophisticated sensors for surveillance & monitoring and electronic warfare applications are expected to drive the growth of the sensors segment of the market.

The North American and Asia Pacific regions are projected to be high growth potential markets for the military sensors during the forecast period.

The military sensors market in the North American region is expected to witness substantial growth during the forecast period, owing to increasing procurement of defense systems and ongoing military modernization programs. According to the article titled Defense Modernization Plans Through the 2020s published by Center for Strategic & International Studies in 2016, the US is expected to invest increasingly in the procurement of aircraft by 2030, thereby leading to the growth of the military sensors market in the North American region.

Browse in-depth TOC on "Military Sensors Market"

71 – Tables

36 – Figures

152 – Pages

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Major players in the military sensors market are Honeywell International Inc. (US), TE Connectivity Ltd. (US), Thales Group (France), Curtiss-Wright Corporation (US), Raytheon Company (US), Esterline Technologies Corporation (US), Kongsberg Gruppen ASA (Norway), and BAE Systems plc (UK), among others.

Please Explore Relevant Reports:

Unmanned Aerial Vehicle Market by Application (ISR, Precision Agriculture, Product Delivery), Class (Tactical, MALE, HALE, UCAV), System (Avionics, Sensors, Payload), MTOW (<25Kg, 25-150Kg, >150kg), Range, Type, and Region - Global Forecast to 2025 

Air Defense System Market by Component (Weapon System, Fire Control System, Command and Control System), Type (Missile Defense System, Anti-Aircraft System, C-Ram System), Platform (Land, Naval, Airborne), Range, Region - Global Forecast to 2024 

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MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

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SOURCE MarketsandMarkets

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