The
main driving force behind the growth of the global man-portable
military electronics market is the growing soldier modernization
programs contracted by military forces around the world. Nations such
as the U.S., India, France, and Australia have undertaken military
modernization initiatives on a grand scale. These long-term programs
will continue to add to the demand for man-portable military
electronics in the foreseeable future.
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Another
factor driving the global man-portable military electronics market is
the increasing demand for innovative man-portable equipment that is
more compact, lighter, and uses less power. The growing demand for
miniature UAVs will also push the category sales in the man-portable
military electronics market. Furthermore, introduction and
integration of cognitive radios with other communication systems will
fuel the growth of the global man-portable military electronics
market.
On
the other hand, lack of technological capabilities that enable
network-centric military communications for man-portable electronics
will suppress this market. Additionally, growing defense budget cuts
globally will also somewhat constrict the growth of the global
man-portable military electronics market.
Joint
R&D Programs to Significantly Influence Global Man-portable
Military Electronics Market
One
of the most influential trends shaping the global man-portable
military electronics market is the rising number of joint research
and development programs between the manufacturing companies and
government. Some of the top programs in this industry include JTRS
HMS program, F-INAS (Future Infantry Soldier as a System) program,
FN-6 MANPADS procurement, Night Vision Devices and Thermal Weapon
Sights procurement, and Software and Systems Engineering Services
program.
According
to a leading market research firm based in the U.S., the global
man-portable military electronics market will grow at a moderate CAGR
of 3.8% during the forecast period of 2013 to 2019. The market was
valued at US$15,100.0 million in 2012 and will reach a total value of
US$19,674.5 million by the end of 2019.
Communications
Sector to Lead Global Man-portable Military Electronics Market
The
global man-portable military electronics market is broadly divided
into imaging, command and control, force protection, communications,
ancillary electronics, and ISTAR (intelligence, surveillance, target
acquisition, and reconnaissance). The communication sector led the
global man-portable military electronics market with a significant
share of 45.5% in 2012. This segment will continue to demonstrate a
high growth rate, as manpack radios and transceivers are the most
common communication equipment that deliver direct link
communications and advanced situational awareness to soldiers. The
communications segment of the man-portable military electronics
market will demonstrate a CAGR of 4.1% during the forecast period.
Geographically,
the global man-portable military electronics market is divided into
North America, Asia Pacific, Europe, and Rest of the World. Till
date, the North American man-portable military electronics market
dominates the global market. The growth and development of the North
American man-portable military electronics market is soaring, which
can be attributed to technological advancements coupled with
administrative willingness to spend significantly on various military
products and technologies in the defense sector.
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Another
region expected to stay abreast of the competition in this industry
is the Asia Pacific market. Several nations in Asia Pacific are
currently engaging in military modernization programs. This will fuel
the Asia Pacific market for man-portable military electronics during
the forecast period. Other nations such as Turkey, Brazil, and the
U.A.E. will also support the growth of the global man-portable
military electronics market in the coming years.
The
second leading regional market in the man-portable military
electronics market will be Europe. European nations have rapidly
expanded their counter-terrorisms operations and are currently being
recognized for significant investments in military technologies. As a
result, the European market for man-portable military electronics
will show a promising growth in the coming years.
The
top companies operating in the global man-portable military
electronics market are Codan Limited, ASELSAN Inc., Elbit Systems
Ltd., Finmeccanica S.p.A., Exelis Inc., Harris Corp., FLIR Systems,
Inc., and Rockwell Collins, Inc.
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