C4ISR market is growing across the world, study finds
NewsAugust 17, 2021
NORTHBROOK, Ill. The deployment of small, reliable, and sophisticated C4ISR [command, control, communications, computers, intelliegence, surveillance, and reconnaissance] systems in a wide range of applications has increased their demand across the globe, a trend that will continue for at least the next few years, according to a new report from MarketsandMarkets, "C4ISR Market - Forecast to 2026."
The study authors project that the global C4ISR market will grow from $119.9 billion in 2021 to $147.1 billion by 2026, at a combined annual growth rate (CAGR) of 4.2 percent over the study period.
Key factors driving this market, say the study authors, include advancements in ISR technologies, improvements in manufacturing techniques which lead to reduced costs, and a trend toward enhanced defense and surveillance capabilities for armed forces and law enforcement around the world.
North America is the region that is expected to lead the C4ISR market from 2021 to 2026, with the market being driven by increasing investment in C4ISR systems to enhance the armed forces' defense and surveillance capabilities, modernization of existing military platforms, and enhancements of critical infrastructure. Prominent industsry players from this region include Northrop Grumman (U.S.), Raytheon Technologies(U.S.), and Lockheed Martin (U.S.).
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