Overview:
The surging military spending is anticipated to boost the market for man portable military electronics. Reports that review the aerospace and defense industry has been presented by Market Research Future, which produces reports on industry verticals that appraise the market expansion and prospects. The market is anticipated to seize a 5 % CAGR growth in the upcoming period.
The need to ensure communication on a battlefield is a crucial factor that is driving the man portable military electronics market. Also, the revision in spending budgets has increased the spending on man portable military electronics considerably. Furthermore, entry of strong market players is expected to further boost the man portable military electronics market in the impending period.
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Segmental Analysis:
The segmental evaluation of the man portable military electronics market is carried out on the basis of product type, platform, and regions.On the basis of product type, the man portable military electronics market is carried out on the basis of ISTAR, command and control, communications, and others.Based on the platform, the man portable military electronics market is segmented into naval, airborne, and land-based.On the basis of regions, the man portable military electronics market comprises of North America, Middle East & Africa, Europe, Asia Pacific, and South America.
Detailed Regional Analysis:
The regional evaluation of the man portable military electronics market is carried out on the basis of regions like North America, Middle East & Africa, Europe, Asia Pacific, and South America. AS per the analysis, the Latin American region has observed a chief development in its defense sector, over the past decade. Among all the nations in the region, Brazil is anticipated to develop at a significant rate, due to the presence of an established defense market in the country. Additionally, it was found that the nation spent close to USD 19.5 billion on military activities, equipment, and exercises in 2016, that was responsible for 47.5% of the total expenditure incurred in the Latin American region, in the same year. Thus, it is anticipated that there would be a momentous development in the regional market.
Competitive Analysis:
The fluctuations in the currency are expected to stabilize and thus create a favorable impact on the market. The influence of governmental policies is motivating further development in the market. The rise in the flow of international transactions between nations is further inspiring the progress of the market. The synergies being created between supply and demand forces in the market is expected to induce further growth of the market. The uncertainty in the market is a critical factor that is driving the formulation of policies and plans that will be applied to drive market growth. The competitors are devoting their resources to ensure an optimum level of growth in the coming years. The competition level in the market is found to be conducive to the advancement of the players who are operating in the market. The need to capture a broader chunk of the profits is supporting the expansion of the market.
The significant players operating in the man portable military electronics market are SAAB AB, Exelis Inc, Elbit Systems, Aselsan, FLIR Systems Inc, Codan, Harris Corporation, Safran, Rockwell Collins, and Thales Group.
Industry Updates:
May 2019 Marine Corps Systems Command in the US (MCSC) has chosen components from the PacStar Secure Wireless Command Post (SWCP). PacStar is delivering network infrastructure, military communications, encryption, and reliable computing for the Marine Common Handheld (MCH) program. The PacStar Secure Wireless Command Post will offer safe, encoded access to confidential networks for smart mobile devices at the outskirt of the Marine Corps battleground, and trail Commercial Solutions for Classified (CSfC) encryption conditions to offer Marines with protected wireless access.
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