The Naval Combat Systems Market is being driven by Increasing focus on ISR operations
The Naval Combat Systems Market is expected to grow at a CAGR of 3.27% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 8155.5 million. In the naval combat systems market, an open architecture combat management system offers ease of integration for new interfaces and modes of interaction. This design approach promotes simplicity, connectivity, and minimal impact on existing components through the utilization of widely adopted hardware and software standards, standard application components, and well-defined interfaces. Raytheon Technologies delivers an open architecture system, enabling data hosting in a common environment and true system-of-systems architecture, enhancing a ship's operability with onboard systems. In 2016, the US Navy granted Lockheed Martin a five-year COMbat System Component-BAsed Total-Ship System (COMBATSS-21) contract, valued at USD79 million, for implementing this advanced technology.
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Which Factors Are Causing a Surge in Market Growth?
The market is segmented based on Product (Weapon systems, C4ISR systems, Electronic warfare systems) Geography (North America, APAC, Europe, Middle East and Africa, South America).
According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows:
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Key Features in Naval Combat Systems Market Research Report
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The Naval Combat Systems Market is experiencing growth due to fleet modernization programs in international navies. Shipyard workers face supply chain constraints, but advancements in technology, such as directed energy weapons and laser weapon systems, are driving innovation. The C4ISR segment, including engineering, logistics, after sales services, and system integration, is crucial for system safety and automation in unmanned operation missions. Companies like Fincantieri, Synapsis Naval, Ultra Electronics, and Saab provide solutions for navigation sensors, cyber security, AI-based vehicles, and combat management systems, ensuring configuration control and bridge integration platform for effective fleet operations.
The Naval Combat Systems Market is a significant segment of the global aerospace and defense industry, encompassing supply chain constraints, shipyard workers, and fleet modernization programs. Key players in this market include Fincantieri, focusing on engineering, logistics, and after-sales services for Directed Energy Weapons and Laser Weapon Systems. The market size is determined by the combined revenue generated from manufacturers and providers serving naval platforms, defense electronics, and defense logistics equipment industries. Technavio's analysis covers MRO activities related to naval, land, and air domains, as well as commercial and general aviation sectors.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
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