Long-Term Contracts and Acquisitions are Among the key Strategies Adopted by Leading Players to Accelerate their Growth in the Combat System Integration Market
In 2016, the combat system integration market was led by Lockheed Martin Corporation (U.S.), BAE Systems PLC (U.K.), Raytheon Company (U.S.), Saab AB (Sweden), and Thales Group (France), among others. These companies are expected to continue their dominance in the market till 2022.
The strategy of long-term contracts accounted for a share of 89% of all growth strategies adopted by players in the combat system integration market from 2014 to 2016.
Top two players of the combat system integration market
Lockheed Martin Corporation (U.S.) operates through five major segments, namely, Missiles & Fire Control (MFC), Aeronautics, Information Systems & Global Solutions (IS&GS), Space Systems, and Mission Systems & Training (MST). The Mission Systems & Training (MST) segment deals with helicopters, ships, submarines, combat systems, mission systems and sensors for aircraft, and sea and land-based missile defense systems. The company’s Combat System Integration (CSI) project focuses on combat systems, weapons, radars, sonars, and EW equipment, in addition to a command and control system. In recent years, Lockheed Martin Corporation has received varied contracts, which, in turn, helped the company broaden its portfolio of combat system integration for the military sector. For instance, in September, 2016, the company received a contract worth USD 1,400 million from Australia to perform combat system integration on its future submarine project. Similarly, in August, 2016, the company received a contract worth USD 490 million from Japan, South Korea, and the U.S. for integrating air and missile defense (IAMD) capabilities on new destroyers. Such worthy contracts helped the company reinforce its position as one of the leading providers of combat system integration in the global marketspace.
BAE Systems PLC (U.K.), another key player in this market, provides combat system integration for all kinds of radars, navigation systems, and weapon systems. The company, in recent years, has adopted the strategy of contracts and acquisitions to strengthen its product portfolio as well as enhance its presence in the combat system integration market. For instance, in November, 2016, BAE Systems received a contract worth USD 192 million from the U.S. Navy for completing the installation, integration, and combat system activation for the first two Zumwalt-class guided missile destroyers. This contract helped the company increase its revenue and strengthen its market presence.
Other companies such as Raytheon Company (U.S.), Saab AB (Sweden), and Thales Group (France) have made significant contributions to the combat system integration market. These companies have adopted varied growth strategies to enhance growth prospects in the combat system integration market.
Related Reports:
Combat System Integration Market by Application (Land-based, Naval, Airborne), Platform (Large Ships, Medium Ships, Small Ships, Submarines, Fighter Aircraft, Combat Helicopters, Armored Vehicles/Artillery), Region - Global Forecast to 2022
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