The unexpected shifts in the global markets because of the sudden outbreak of the COVID-19 virus have brought many major and minor tremors to industries of all sizes including the Combat Management System Market.
It was estimated prior to this unanticipated outbreak that the Combat Management System Market was likely to witness an impressive CAGR of 5.2% during the forecast period. However, the gradual slowing down of industries will undoubtedly impose limits on the previously estimated growth rate. Some of the prime drivers contributing to the growth of the global combat management system market comprise the rising demand for advanced situational awareness systems in naval ships and submarines and the upsurge in the upgradation of combat management systems by different navies across the globe.
Combat Management System Market Segment Insights:
By Sub-System Type:
The unmanned vehicle control systems segment is estimated to depict the highest growth, driven by the rising acceptance of unmanned vehicles, such as UAVs, UUVs, and UGVs in naval combat operations, during the forecast period.
By Component Type:
The hardware segment has been further sub-segmented into control consoles, combat data centers, and data network switchers. The software segment dominated the market in 2019, and is also anticipated to register a higher growth during the forecast period. The growth of the segment can be attributed to the high development cost of software, which is based on the intricate architecture of combat management system.
By Platform Type:
The corvettes segment is estimated to witness the highest growth during the forecast period, owing to the rise in deliveries of corvettes across the globe.
By Region:
Asia-Pacific market is projected to account for the highest growth in the coming five years. China, India, and Japan are the growth engines of the region and are also, exceedingly investing in the development of future-centric naval technologies. The market is driven by the growing ship building activities and the rising deliveries of combat vessels in the region. North America and Europe are also expected to offer substantial growth opportunities during the forecast period.
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