Man-portable Military Electronics Market: Valuable Growth Prospects, Size, Share, Demand and Current Trends Analysis and Forecast: 2022-2031

Japan, Japan, Thu, 07 Apr 2022 01:07:11 / Comserve Inc. / -- The man-portable military electronics market is expected to register a CAGR of over 4.5% during the forecast period (2022-2031).

The man-portable military electronics market is expected to register a CAGR of over 4.5% during the forecast period (2022-2031).

- Growing terrorist activities and increasing military spending by nations across the world are enabling the respective armies to procure more man-portable military electronic systems for enhancing their land-based warfare capabilities. These trends are expected to help the market during the forecast period.
- The emphasis on the modernization of soldiers is growing in various countries. The focus on this is expected to drive in more investments for the man-portable military electronics market in the years to come.
- Research in powered exoskeleton technologies is expected to provide growth opportunities for the market in the years to come.

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Key Market Trends

ISTAR Segment Projected to Grow at a High Pace

Currently, the communications segment of the market studied has the highest share out of all the segments. The increased use of man-pack radios by dismounted soldiers is the primary reason for the high share of this segment. However, growth rates are expected to be high in the ISTAR segment. ISTAR includes intelligence, surveillance, target acquisition, as well as reconnaissance. ISTAR capabilities help in linking together several battlefield functions, to assist a combat force in deploying their sensors on the battlefield, as well as managing the information the unit gathers. Thus, the focus is currently on this segment, which is the reason for its high expected CAGR.

Asia-Pacific expected to Record the Highest Growth

By region, the North American market is generating the highest revenue at present, in the market studied. However, the growth of the Asia-Pacific market is anticipated to be higher during the forecast period. Emerging economies in the Asia-Pacific, like India, China, and Japan, are investing significant amounts in modernizing their armed forces. These modernization programs are further being boosted by the increasing defense spending from these countries, which collectively, has a positive impact on the growth of the market.

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Competitive Landscape

The man-portable military electronics market is fragmented, with four manufacturers accounting for a major market revenue share (in 2019), while over a dozen companies accounting for the remaining share of the market revenue, globally. The mergers and acquisitions that took place between the players in the recent past helped the companies strengthen their market presence. For example, the acquisition of B/E Aerospace by Rockwell Collins and of Rockwell Collins Aerospace (United Technologies Corporation) is expected to strengthen UTC's portfolio in the market, while also improving their market presence in the military man-portable electronics market over the next few years.

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