The U.S. is predicted to lead the military embedded systems market with a CAGR of 7.6% during the forecast period. Increased investments in defense equipment and fighting capabilities.
As per the analysis of FMI, the military embedded systems market was valued at US$ 1.6 Billion in 2022 and is predicted to reach US$ 3.6 Billion by 2032, growing at a CAGR of 8.1%. The demand for military embedded systems is driven by an increase in the use of multi-core technology, an increase in demand for commercial off-the-shelf hardware, and an increase in the deployment of electronic warfare systems.
The high cost of military embedded systems, on the other hand, is restricting the expansion of the military embedded systems market. The sales of military embedded systems are predicted to grow as cloud computing, network-centric warfare systems, and wireless technologies open up new doors in the sector.
The demand for military embedded systems is rising as multi-core technology enables designers to adapt to future hardware requirements while staying under budget limits. Due to the widespread usage of multi-core technology in electronic warfare systems, the sales of military embedded systems are predicted to grow.
Furthermore, due to the increased military embedded systems market, the military embedded systems market is expected to rise rapidly during the forecast period. In addition, the defense sector has recently seen a surge in demand for cloud computing technology.
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The rise in portable devices with embedded systems, technological advancements, electronic warfare, network-centric warfare, and wireless technologies will all contribute to increased demand for military embedded systems in the coming years. Every country is now attempting to strengthen its defense and military by incorporating sophisticated technologies, which will play a significant role in the growth of the global military embedded systems market revenue.
In 2019, the U.S. Naval Research Laboratory granted Abaco Systems Inc. (an open architecture and electronic system manufacturing business based in Alabama, U.S.) a contract of 24 million dollars for the development of a high-performance embedded system for electronic warfare. Electronic jamming capabilities will be provided by an embedded electronic warfare system. The demand for military embedded systems will be driven by such embedded computer system R&D to develop electronic warfare capabilities.
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Some of the key players in the military embedded systems market profiled in the study are Mercury Systems, Inc., Curtiss-Wright Corporation, Advantech Co., Ltd., SMART Embedded Computing, and Kontron AG.
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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market.
Mar 16, 2023