According to MarkNtel Advisors, the Global Military Sensors Market is expecting around 5% CAGR during 2022-27. The increasing expenditures by governments of different countries worldwide in the procurement of the latest military equipment & their components with advanced technologies like Artificial Intelligence & the Internet of Things based sensors are the prime aspects driving the global market.
Besides, expanding defense sectors of China & India, owing to their escalating focus on strengthening the defense sector is anticipated to play a crucial role in boosting the deployment of sensors and generate growth opportunities for the leading players to bring developments in the warfare ecosystem.
As a result, it is proliferating the demand for armed vehicles with sensors like Micro-Electro-Mechanical Systems (MEMS), active sensors, wearable sensors, smart sensors, nano-sensors, camera sensors, & infrared sensors, among others, thereby augmenting the market growth, further states the research report, “Global Military Sensors Market Analysis, 2022.”
Greater Efficiency & Real-Time Data Gathering to Drive the Demand for Software-based Military Sensors
The rapidly increasing need for real-time monitoring & processing of data in the military sector using sensors integrated with the IoT & AI is driving the demand for software-based military sensors worldwide. Besides, various benefits of these sensors, such as high-tech surveillance & monitoring, object identification, & scene detection, among others, help military officials enhance the accuracy of their operations, which are other prominent factors fueling the demand for software-based sensors and, in turn, fueling the overall market growth.
With Rising Geopolitical Tensions, Asia-Pacific to Contribute Significantly to the Market Growth
Massive investments by the governments of different countries like China, India, Japan, & South Korea are displaying massive procurement of military systems, i.e., the prime aspect attributed to the accelerating demand for military sensors in Asia-Pacific. In addition, increasing geopolitical tensions between countries like India & Pakistan is leading to substantial defense budgets & procurement of military systems integrated with technologically advanced sensors for accurate & efficient operations in these countries, thereby further stimulating the regional market growth over the forecast years, reveals MarkNtel Advisors in their research report, "Global Military Sensors Market Analysis, 2022."
According to MarkNtel Advisors, the leading players in the Global Military Sensors Market are Honeywell International Inc., TE Connectivity Ltd., Raytheon, Lockheed Martin, Thales, Kongsberg Gruppen, Ultra Electronics, Easterline Technologies Corporation, General Electric Corporation, & BAE Systems PLC.
Key Questions Answered in the Research Report