What Has Been The Evolution of the Military Sensors Market in Recent Years?
The military sensors market has seen considerable growth due to a variety of factors.
•The size of the military sensors market has seen robust growth in the last couple of years. Forecasts suggest a growth from $10.74 billion in 2024 to $11.46 billion in 2025, indicating a compound annual growth rate (CAGR) of 6.7%.
The historic growth trend is linked to several factors, such as changes in regulations and standards, the increased use of unmanned platforms, industrial partnerships and collaborations, emphasis on situational awareness, and government initiatives and contracts.
What Is the Forecasted Market Size and Growth Rate for The Military Sensors Market?
The military sensors market is expected to maintain its strong growth trajectory in upcoming years.
• In the coming years, the military sensors market is anticipated to experience substantial growth, and is predicted to reach a value of "$14.65 billion by 2029, with a compound annual growth rate (CAGR) of 6.3%.
The projected expansion in this period is primarily due to factors like the emergence of low-power and miniaturized designs, worldwide geopolitical uncertainties, increased use of unmanned systems, incorporation of artificial intelligence and machine learning, and a rising requirement for ISR capabilities. The period forecast further suggests major trends such as a greater emphasis on cybersecurity, innovation of multifunctional sensors, focus on lightweight and miniaturized designs, growing importance on hyperspectral and multi-spectral sensors, and sensor networking and its interoperability.
What Factors Are Driving Growth In The Military Sensors Market?
The rise in defense budgets by developing countries is a key factor fueling the expansion of the military sensors market. Defense expenditure pertains to the money a nation allocates to the building and upkeep of its military forces or other defense-associated tasks. This involves operations, upkeep, procurement of weaponry and armored vehicles, as well as military research and development. Defense expenditure is allocated to the purchase of products and services like weaponry, sensors, and military research and development, promoting the demand for military sensors. For example, as reported by the Stockholm International Peace Research Institute (SIPRI), an independent international research organization based in Sweden, the total global military expenditure in 2023 was $2443 billion, marking an increased growth of 6.8 percent when compared to 2022. Consequently, the escalating defense expenditure by developing economies propels the growth of the military sensors market in the future.
What Are The Main Segments Of The Global Military Sensors Market?
The military sensors market covered in this report is segmented –
1) By Component: Software, Hardware
2) By Platform: Airborne, Land, Naval
3) By Application: Intelligence, Surveillance, And Reconnaissance (ISR), Communication And Navigation, Target Recognition, Electronic Warfare, Command And Control, Other Applications
Subsegments:
1) By Software: Data Analysis Software, Sensor Fusion Software, Monitoring And Control Software, Simulation Software, Operating Systems for Sensors
2) By Hardware: Radar Sensors, Infrared Sensors, Acoustic Sensors, Electro-Optical Sensors, Chemical Sensors, Pressure Sensors, Temperature Sensors, Motion Sensors
Pre-Book The Military Sensors Global Market Report 2025 Report For Swift Delivery And Comprehensive Insights:
What Emerging Trends Are Influencing The Growth Of The Military Sensors Market?
To gain a competitive edge in the military sensor market, key companies are focusing on forming strategic alliances. Such partnerships are vital in adapting to the changing requirements of contemporary military operations. Oracle, a US technology company, aligned with Rafael Advanced Defense Systems, an Israeli defense technology firm, in September 2024. The merger was aimed at augmenting the U.S military's capacities via cloud-based Artificial Intelligence (AI) solutions. The focus of this collaboration is to incorporate Rafael's superior systems, specifically IMILITE and FIRE WEAVER, into Oracle's Cloud Infrastructure (OCI) to better critical battlefield decision-making processes. The alliance will grant the U.S. military access to Rafael's AI-driven imagery intelligence and sensor-to-shooter systems, which are instrumental in quick and informed decision-making during missions.
Who Are the Key Players in the Military Sensors Market?
Major companies operating in the military sensors market include:
• BAE Systems PLC
• Curtiss-Wright Corporation
• Esterline Technologies Corporation
• Honeywell International Inc.
• Lockheed Martin Corporation
• Raytheon Technologies Corporation
• TE Connectivity Ltd.
• Thales Group
• General Electric Company
• Imperx Inc.
• Microflown AVISA BV
• Vectornav Technologies LLC
• Rock West Solutions Inc.
• KONGSBERG GRUPPEN ASA
• Ultra Electronics
• Aerosonic LLC
• Viooa Imaging Technology Inc.
• Northrop Grumman Corporation
• L3Harris Technologies Inc.
• Safran Electronics & Defense
• Leonardo S.p.A.
• Rheinmetall AG
• Elbit Systems Ltd.
• FLIR Systems Inc.
• Collins Aerospace
• Cobham plc
• Moog Inc.
• Meggitt PLC
• QinetiQ Group plc
• Terma A/S
• ASELSAN A.S.
• RADA Electronic Industries Ltd.
• Israel Aerospace Industries Ltd.
• Rafael Advanced Defense Systems Ltd.
• Bharat Electronics Limited
• Hindustan Aeronautics Limited
What Is The Most Dominant Region In The Military Sensors Market?
North America was the largest region in the military sensors market in 2024. The regions covered in the military sensors market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
