Situational Awareness Systems Market to be dominated by North America region through 2027
High defense expenditure and
ongoing digitalization of the organizations are driving the demand for the
global situational awareness systems market in the forecast period, 2023-2027.
According to TechSci Research report, “Situational Awareness Systems Market - Global
Industry Size, Share, Trends, Opportunity, and Forecast, 2017-2027”, the global situational awareness systems market is
anticipated to witness impressive growth in the forecast period, 2023-2027.
Situational awareness systems are a type of security system that helps to
collect, visualize, and analyze information about the surrounding and remote
environment for surveillance and security purposes. It provides tools required
to locate, alert, communicate and offer message and file transfer functionality
to the end-users. The situational awareness system collects and interprets
information which helps companies make informed decisions. Situational
awareness systems offer several benefits to organizations, such as threat
identification, risk analysis, security, and strategy planning to decide the
future course of action. These kinds of systems are in high demand in areas
like traffic control and management, which requires continuous monitoring and
analysis. Key players in the industry are backed by the government authorities
who make significant amounts for research and development activities. Companies
are working on innovation, and the introduction of more efficient and advanced
technologies is expected to accelerate the market growth in the forecast
period.
However, a lack of awareness about the
benefits of situational awareness systems and high implementation costs may
restrain the global situational awareness systems market growth in the forecast
period.
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The global situational awareness systems
market is segmented into component, application, end use, regional
distribution, and competitive landscape.
Based on component, the market is
divided into sensors, GPS, cameras, gyroscopes, display & notification
devices, NVRs & DVRs, and others. Sensors are expected to hold the largest
market share in the forecast period, 2023-2027. Sensors are in high demand
nowadays. They find several applications in surveillance, profit survivability,
advanced weapon operation, targeting, and intelligence operations. Sensors
collect the physical data and convert the phenomena to make it usable for
informed decisions.
Based on application, the market is
divided into robots, driving and connected cars, business intelligence,
disaster response, security & surveillance, environmental impacts tracking,
logistics, natural & cultural resources, smart infrastructure management,
and crisis management. Driving and connected cars are expected to account for
significant market share in the forecast period owing to the growing popularity
of automation and other novel technologies. The transformation of cities
towards smart infrastructure and the launch of superior high-performance
vehicles in the market is further expected to boost the demand for situational
awareness systems for driving and connected cars.
Based on end use, the market is divided
into military & defense, healthcare, aerospace, marine security,
automotive, mining and oil & gas industry, and others. The military &
defense segment is expected to capture the highest market share in the forecast
period. Several countries are investing in the development and advancement of
autonomous weapon systems to strengthen the military sector of their country.
The advancements in weapon firing system and sensor technology are improving
the current vehicles' performance capabilities.
Major market players operating in the global
situational awareness systems market are:
- Bae Systems
- Honeywell International Inc
- Denso Corporation
- CNL Software Limited
- Collins Aerospace (United Technologies)
- Lockheed Martin Corporation
- Harris Corporation
- General Electric
- D3 Security Management Systems, Inc
- Microsoft Corporation
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“On the basis of regional analysis,
North America is expected to hold the largest market share in the forecast
period, 2023-2027, and the United States and Canada majorly dominate the
market. Situational awareness systems are used by end-user industries such as
the aviation industry, maritime and homeland security, and military &
defense industries. Massive defense expenditure by the leading authorities and
the efforts for network modernization are expected to propel the growth of the
global situational awareness systems market till 2027” said Mr. Karan Chechi, Research
Director with TechSci Research, a research based global management consulting
firm.
“Situational Awareness
Systems Market - Global Industry Size, Share, Trends, Opportunity, and
Forecast, 2017-2027 Segmented By Component (Sensors, GPS, Cameras, Gyroscopes,
Display & Notification Devices, NVRs & DVRs, Others), By Application
(Robots, Driving and Connected Cars, Business Intelligence, Disaster response,
Security & Surveillance, Environmental Impacts Tracking, Logistics, Natural
& Cultural Resources, Smart Infrastructure Management, Crisis Management),
By End Use (Military & Defense, Healthcare, Aerospace, Marine security,
Automotive Mining and Oil & Gas Industry, Others), and By Region”, has evaluated the future growth
potential of global situational awareness systems market and provides
statistics & information on market size, structure, and future market
growth. The report intends to provide cutting-edge market intelligence and help
decision makers take sound investment decisions. Besides, the report also
identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in global situational awareness systems market.
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