Global Defense Tactical Computers Market Highlights Over 2022 - 2031
The global defense tactical computers market is estimated to garner a hefty amount of revenue by growing at a CAGR of ~5% over the forecast period, i.e., 2022 – 2031. The growth of the market can be attributed to the increasing number of military vehicles, which in turn is expected to raise the demand for tactical computers to gather information from the surroundings and enhance the firing accuracy. In 2020, China alone accounted for more than 30,000 armored fighting vehicles, whereas South Korea had a fighting vehicle strength of about 15,000 that same year. Along with this, growing need for rugged, high performance and reliable computing devices that can withstand harsh environments is also expected to drive market growth in the forthcoming years. Furthermore, rising usage of internet of things (IoT) and cloud computing technologies in aerospace and defense applications is projected to offer ample growth opportunities to the market in the near future.
The market is segmented by type into vehicle-mounted, handheld, and wearable, out of which, the vehicle-mounted segment is anticipated to hold the largest share in the global defense tactical computers market. This can be accounted to the ability of these computers to withstand harsh climatic conditions such as extreme heat, cold, vibrations and shock. Apart from this, high utilization of these computers in positioning, utility control, flight control and fire control is also predicted to boost the growth of the market segment in the future. Additionally, on the basis of platform, the army segment is assessed to occupy the largest share during the forecast period, which can be credited to the increase in military expenditure around the world. CLICK TO DOWNLOAD SAMPLE REPORT
Major Macro-Economic Indicators Impacting the Market Growth
The never-ending growth in internet accessibility around the world along with numerous technological advancements comprising 5G, blockchain, cloud services, Internet of Things (IoT), and Artificial Intelligence (AI) among others have significantly boosted the economic growth in the last two decades. As of April 2021, there were more than 4.5 billion users that were actively using the internet globally. Moreover, the growth in ICT sector has significantly contributed towards GDP growth, labor productivity, and R&D spending among other transformations of economies in different nations of the globe. Furthermore, the production of goods and services in the ICT sector is also contributing to the economic growth and development. As per the statistics in the United Nations Conference on Trade and Development’s database, the ICT good exports (% of total good exports) globally grew from 10.816 in 2015 to 11.536 in 2019. In 2019, these exports in Hong Kong SAR, China amounted to 56.65%, 25.23% in East Asia & Pacific, 26.50% in China, 25.77% in Korea, Rep., 8.74% in the United States, and 35.01% in Vietnam. These are some of the important factors that are boosting the growth of the market.
Global Defense Tactical Computers Market Regional Synopsis
Regionally, the global defense tactical computers market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and the Middle East & Africa region. The market in Asia Pacific is estimated to witness noteworthy growth over the forecast period on the back of the rising deployment of advanced technologies in tactical equipment for sharing information, tracking, positioning and intelligence. In addition, increasing government funding to upgrade existing systems of defense information sharing platforms is also expected to boost the market growth in the region in the coming years. Moreover, the market in North America is projected to acquire the largest share during the forecast period ascribing to the high military spending, and strong presence of major market players in the region. The military spending in the United States was about USD 765 billion in 2020, up from USD 730 billion in 2019 and USD 695 billion in 2018 respectively.
The global defense tactical computers market is further classified on the basis of region as follows:
Our in-depth analysis of the global defense tactical computers market includes the following segments:
Top Featured Companies Dominating the Market
FREQUENTLY ASKED QUESTIONS
The major factors driving market growth are increasing number of military vehicles, and growing need for rugged, high performance and reliable computing devices.
The market is anticipated to attain a CAGR of ~5% over the forecast period, i.e., 2022-2031.
Asia Pacific will provide more business opportunities for market growth owing to the rising deployment of advanced technologies in tactical equipment for sharing information, tracking, positioning and intelligence.
The major players in the market are Saab AB, BAE Systems Plc, Bharat Heavy Electricals Ltd, Cornet Technology Inc., Curtiss-Wright Corp., and others.
The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.
The market is segmented by type, platform, and by region.
The vehicle-mounted segment is anticipated to hold largest market size and is estimated grow at a notable CAGR over the forecast period and display significant growth opportunities.
Low awareness about defense tactical computers in lower economic regions is estimated to hamper the market growth.
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