Combat Management System Market

Contract was the key strategy Adopted by Market players to Enhance Business Prospects in the Combat Management System Market

The combat management system market is estimated to be USD 306.7 Million in 2017 and is projected to reach USD 365.5 Million by 2022, at a CAGR of 3.57% from 2017 to 2022. Growing demand for advanced situational awareness systems for naval ships and submarines and increase in upgradation of legacy combat management systems by different navies across the world are expected to drive the combat management system market during the forecast period.

The combat management system market is highly competitive, with many public sector companies developing, integrating, and manufacturing combat management systems. These companies are engaged in long-term contracts with the Navies of different nations and with various shipbuilding companies. Some of the dominant players in the combat management system market include BAE Systems plc (UK), Elbit Systems Ltd. (Israel), Kongsberg Gruppen ASA (Norway), Leonardo S.p.A. (Italy), Lockheed Martin Corporation (US), Raytheon Company (US), Saab AB (Sweden), and Thales Group (France). These companies, which accounted for the major share of the combat management system market, have their integration and manufacturing facilities in regions such as North America, Europe, and Asia Pacific. They focus on long-term contracts and agreements with OEMs and shipbuilders to enhance their market share and improve their market presence.

Lockheed Martin Corporation (US) is one of the leading players in the combat management system market. The company focuses on developing products for different naval platforms. It offers advanced combat management systems for combat ships and submarines to the US Navy. In May 2017, Lockheed Martin received a contract from the Chilean Navy for the supply of combat management systems for its Type 23 frigates. Earlier, in 2016, Lockheed Martin Canada, a subsidiary of Lockheed Martin Corporation, was selected by the Finnish Defense Forces to provide combat management systems for a new Corvette program of the Finnish Navy. Long-term contracts have helped the company enhance its market share, grow its sales organically, and strengthen its position in the combat management system market.

Thales Group (France) is one of the visionary leaders in the combat management system market. The company mainly focuses on investing in new technology development and strategizing ways to enhance its operational excellence and customer base in Europe, North America, and Asia Pacific. In 2015, the company received a contract from the Royal Thai Navy for the supply of its TACTICOS combat management systems and an integrated bridge and navigation suite.

BAE Systems plc (UK) supplies its combat management systems to the Royal Navy (UK) for various maritime applications. In 2016, BAE Systems received a contract worth USD 245 million from the UK Ministry of Defense for the supply of Maritime Indirect Fires System (MIFS) and combat management systems for the UK Royal Navy’s Type 26 global combat ships.

Related Reports:

Combat Management System Market by Sub-System (Self-Defense, Situational Awareness, Track Management, Identification, Unmanned Vehicle), Component (Hardware, Software), Platform (Destroyers, Submarines, Frigates, Corvettes) and Region - Global Forecast to 2022

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Report Code
AS 5564
RI Published ON
9/12/2017
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