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Technological Growth and Development of Battlefield Management Systems Market
The global BMS market is estimated to be $10.36 billion in 2014, and is expected to register a CAGR of 4.0% to reach $12.6 billion in 2019. The growth regions will be in the Middle-East, Asia-Pacific, and Africa. China, India, and Saudi-Arabia will show consistent level of growth in the BMS industry.
U.S. will pull out on important BMS project spending due to the existing uncertainties hovering over the defense budget expenditures in the developed economies.
BMS will be a priority to come up in a few developing countries of the world while, the developed nations will focus more into the maintenance and the up gradation of these systems. Efficient battlefield management systems keep soldiers safe with real-time tactical information, and will play a key role in combating asymmetric warfare.
Intelligent software deployed into a BMS is critically important to ensure effective planning, and decision-making by the commanders in a battlefield.
The market is at a matured phase in the developed economies of the West with important investments being cut-off from new projects. The stagnant phase of the BMS market is due to the budget cuts in the Western economies.
Land-based systems will have the highest CAGR across all platforms, and will account for 80.33% of the market share in the forecast period.
There will be an increasing demand in soldier modernization technologies, military software developments, and light-armored vehicles as important BMS applications.
Battlefield Management Systems Market by Platform (Land, Airborne, and Naval), by Application (Commander Systems, Dismounted Soldier Systems, Tracked and Armored Vehicles, Communication Network Systems and BMS Software) - Forecast & Analysis 2014 - 2019
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