Rugged Equipment Market Size to Grow by USD 5.73 bn During 2020-2024

Technavio has been monitoring the rugged equipment market and it is expected to grow by USD 5.73 bn, accelerating at a CAGR of almost 3% during the forecast period. The growth trajectory of the market is traced through a detailed analysis of the prevalent market forces, trends, and drivers along with competitive benchmarking View Free Sample Report

Rugged Equipment Market: North America to lead market growth during the forecast period

• 41% of the market growth will originate from North America during the forecast period.
• Growing demand for wireless communication devices will be a key trend that will influence market growth significantly.
• The Growth of industrial end-users will be a significant factor in driving the growth of the rugged equipment market.

Rugged Equipment Market: Key Competitors

The market is fragmented. The growth of the players depends on several factors such as market conditions, government support, and industry development. To survive and succeed in such an intensely competitive market, players must distinguish their product and service offerings through clear and unique value propositions. BAE Systems Plc, Cobham Plc, Curtiss-Wright Corp., L3Harris Technologies Inc., Kontron S&T AG, Leonardo Spa, Raytheon Technologies Corp., Siemens AG, Sparton Rugged Electronics, and Singapore Technologies Engineering Ltd. are some of the major market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their position in the slow-growing segments.

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Rugged Equipment Market: Key Highlights of the Report for 2020-2024

• CAGR of the market during the forecast period 2020-2024
• Detailed information on factors that will drive rugged equipment market growth during the next five years
• Precise estimation of the rugged equipment market size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behavior
• The growth of the rugged equipment market industry across North America, Europe, APAC, South America, and MEA
• A thorough analysis of the market’s competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of rugged equipment market vendors

The Global Rugged Equipment Market is expected to grow by USD 5.73 billion accelerating at a CAGR of over 6% during the forecast period. As the information technology industry is expected to witness mixed impact due to COVID-19, the impact of the pandemic on the market in focus is expected to remain NEUTRAL. Technavio evaluates the market with a detailed investigation into the market forces, emerging trends, and growth drivers. It also provides competitive benchmarking to equip clients with actionable insights that will help them navigate through the current market scenario. Preview our latest report with COVID-19 Impact Analysis

"Rugged equipment is finding its applications across several industries such as oil and gas, mining, and aviation. Vendors are developing rugged equipment that can withstand harsh environments, including explosions, which is a common phenomenon, especially in the oil and gas industry and mining industry", says senior research analyst for the Information Technology Industry at Technavio.

Rugged Equipment Market: Product Segment Highlights

• Product Segmentation: communication equipment, computer systems, and displays
• Communication equipment segment dominated the market in 2019 as rugged communication equipment is deployed in harsh environments in the military sectors. Vendors offer reliable communication devices to keep military personnel connected during combat.
• The segment is driven solely by defense and military spending. Although the defense expenditure is reducing in certain countries, the budget allocation for ISR will drive the market for rugged communication equipment during the forecast period. 

Rugged Equipment Market: Competitive Analysis

• The Rugged Equipment Market is fragmented due to the presence of several vendors.
• Market vendors offer rugged tactical radio communication equipment, rugged network equipment, and Satcom equipment. Several vendors are also venturing into Satcom communication systems due to the high adoption rate compared to radio communication equipment.
• BAE Systems Plc, Cobham Plc, Curtiss-Wright Corp., L3Harris Technologies Inc., Kontron S&T AG, Leonardo Spa, Raytheon Technologies Corp., Siemens AG, Sparton Rugged Electronics, and Singapore Technologies Engineering Ltd. are some of the major market participants.  Although the growth of industrial end-users will offer immense growth opportunities, the high initial cost of procurement compared with non-rugged devices will challenge the growth of the market participants.

Technavio provides custom research reports with detailed insights on the impact of COVID-19 with respect to the industry, region, and supply chain operations. This customized report will help clients keep up with new product launches in direct & indirect COVID-19 related markets. It will also provide insights on upcoming developments along with pipeline analysis of vendor operations and the impact of government regulations. Download a Free Sample Report