Eastern Europe C4ISR Market: Global Share, Growth, Size, Opportunities, Trends, Regional Overview, Leading Company Analysis, And Key Country Forecast: 2022-2031

Japan, Japan, Thu, 07 Apr 2022 00:58:12 / Comserve Inc. / -- The Eastern Europe C4ISR Market is projected to witness a CAGR of over 3% during the forecast period.

The Eastern Europe C4ISR Market is projected to witness a CAGR of over 3% during the forecast period.

- Countries in the region are increasing their defense spending to cater to the security and strategic needs of the militaries. This is currently driving the growth of the market.
- In addition, the countries are also going through several military modernization plans, and are planning to upgrade their armed, naval, and air forces. This is also expected to bolster the market prospects during the forecast period.

Request To Download Sample of This Strategic Report: https://www.sdki.jp/sample-request-81511

Key Market Trends

Growth in Defense Spending Driving the Market Growth

Several countries in Eastern Europe made huge increases in their defense spending in 2019. Especially among the NATO member states in Eastern Europe, there was sharp increase in military expenditure. According to SIPRI, defense spending by Bulgaria rose by over 120% in 2019, reaching USD 2.18 billion, and Romania's rose by 17%. In addition, Slovakia's military expenditure grew by about 40% to reach USD 1.87 billion. Russia is the largest defense spender in Eastern Europe. The country has been increasing its military spending over the years. In 2019, Russia's military spending increased by over 4.5% as compared to that in 2018. At USD 65.1 billion, Russian military spending was the fourth highest in the world in 2019. Furthermore, the military spending by countries, like Moldova, and Ukraine, also increased by more than 10% in 2019. The increase in military spending is expected to play a major role in the growth of the market in the region, as these countries are opting for major military modernization activities that will enable the procurement of new C4ISR systems and equipment, thereby driving the market during the forecast period.

Russia Held the Largest Market Share in 2019

In 2019, Russia held the largest market share in Eastern Europe C4ISR Market. Russia is one of the military superpowers globally. After two consecutive years of decline in defense expenditure in the years 2017 and 2018, Russian defense spending recovered in 2019 to reach USD 65.1 billion. Russian military expenditure has grown significantly over the past two decades. It showed an increase of 30% in real terms between 2010 and 2019 and by 175% between 2000 and 2019. The country, in recent years, has emphasized on modernizing its military assets, funded by rapidly increasing military spending. In the last 10 years, the country focused on improving its command and control (C2), both by exploiting modern technologies and upgrading its existing systems. In this regard, the country has developed and introduced automated Command and Control systems, as part of an effort to acquire network-centric warfare capabilities. In June 2019, the Russian defense ministry introduced the prototype of the latest version of its new Automated Command and Control System (Avtomatizirovannyye Sistemy Upravleniya—ASU), which began testing in early 2019. The army plans to complete the trial phase of the systems and introduce it across its command units during the forecast period. Such developments are expected to drive the market in Russia during the forecast period.

Click Here to Download Sample Report: https://www.sdki.jp/sample-request-81511

Competitive Landscape

Rostec, Ukroboronprom, BAE Systems PLC, Lockheed Martin Corporation and Northrop Grumman Corporation are some of the prominent players in the market. The incorporation of automation and artificial intelligence into the existing C4ISR technologies will help the players in developing advanced systems. This is beneficial for their growth, as it may help them gain new contracts for their advanced products. Players can utilize the growing market opportunities from countries, like Poland, Romania, Bulgaria, Ukraine, etc., which are currently planning for modernization of military tactical equipment.

Reasons to Purchase this report:

- The market estimate (ME) sheet in Excel format
- 3 months of analyst support

The dynamic nature of business environment in the current global economy is raising the need amongst business professionals to update themselves with current situations in the market. To cater such needs, Shibuya Data Count provides market research reports to various business professionals across different industry verticals, such as healthcare & pharmaceutical, IT & telecom, chemicals and advanced materials, consumer goods & food, energy & power, manufacturing & construction, industrial automation & equipment and agriculture & allied activities amongst others.

For more information, please contact:

Shibuya Data Count
Email: sales@sdki.jp
Tel: + 81 3 45720790

The post Eastern Europe C4ISR Market: Global Share, Growth, Size, Opportunities, Trends, Regional Overview, Leading Company Analysis, And Key Country Forecast: 2022-2031 appeared first on Comserveonline.