PUNE, India, November 29, 2022 (GLOBE NEWSWIRE) — The global Combat Management Systems Market size cheated $755.8 million in 2020 worldwide. The market valuation should grow from $804.9 million in 2021 to $1,249.86 million in 2028 at a CAGR of 6.49% in the period 2021-2028. The market is gaining traction globally with increasing investment in the military and defense sectors. The Stockholm International Peace Research Institute (SIPRI) reports that global military spending rose to US$1,981 billion in 2020, up 2.6% and 9.3% from 2019 and 2011, respectively. Fortune Business Insights™ presents this information in his report entitled “Combat Management Systems Market, 2021-2028.”
Combat Management System (CMS) is a technology developed for military use, enabling precise target acquisition, critical mission systems, situational awareness and other ship-based systems to achieve high accuracy in critical combat operations. Demand for such systems is gradually increasing as countries around the world seek to strengthen their respective military and defense sectors. Unmanned systems such as unmanned aerial vehicles (UAVs) and unmanned underwater vehicles (UUVs) are experiencing high acceptance. To meet these demands, OEMs are emphasizing product development and innovation through accelerated R&D efforts. The above factors indicate that CMS will become significantly more important in the coming years.
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List of key players profiled in the report:
- BAE Systems PLC (UK)
- Elbit Systems Ltd. (Israel)
- Kongsberg Groups ASA (Norway)
- Leonardo SpA (Italy)
- Lockheed Martin Corporation (USA)
- The Raytheon Company (USA)
- Saab AB (Sweden)
- Thales Group (France)
- Israel Aerospace Industries Ltd. (Israel)
- Leonardo DRS (formerly DRS Technologies, Inc.) (USA)
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| Market size in 2021 | USD… |
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