A new report predicts the global market for man-portable military electronics will be worth $2.77bn in 2013, according to a new report released by a business information company. In the report, entitled Global Man-Portable Military Electronics Market 2013-2023, analysis predict that that USA alone will spend nearly $4.8bn on devices such as tactical radios, night vision goggles and miniature UAVs over the next decade.
With the drawdown of US and European involvement in Afghanistan on the horizon, tensions in South East Asia on the rise and financial uncertainty in Europe refusing to abate, today’s security environment is extremely complex. The new report is an in-depth examination of what these trends mean for a market for solder technology which has seen swift growth in previous years. The research has produced a detailed ten-year forecast for the 20 largest national markets in man-portable military electronics, as well as a breakdown of the products and services offered by the top 15 companies active in the market.
The defence analyst who led research on the man-portable electronics report explained why the market is likely to see such strong growth in the years ahead:
“Man-portable electronic devices have witnessed a period of intense investment thanks to the operational requirements of US and coalition troops in Iraq and Afghanistan. A decade of deployment allowed infantry and special forces to test technology designed to increase their survivability and effectiveness in battle, leading to a surge in spending on successful devices."
Although this era of focused spending aimed at levelling the playing field of asymmetric conflict is coming to an end, the legacy of its research and development will be felt for many years. The mature, battle proven and increasingly cost effective technologies which now make up the man-portable military electronics market will drive extremely strong growth in states whose capabilities currently lag far behind leading NATO forces.”
The report has 180 pages and contains 228 tables, charts and graphs to explain trends and market projections within the man-portables military electronic market. As well as a global outlook, Visiongain provides forecasts and analysis for 20 leading national markets (plus the ‘Rest of the World’ market) and 6 global submarkets for the period 2013-2023. The report also provides profiles of 15 leading companies operating in the market.
The Global Man-Portable Military Electronics Market 2013-2023 report is an invaluable reference for current and future investors into soldier technology worldwide, as well as to companies and researchers wishing to gain a swift understanding of both market and policy direction.
Source: ASDReports - Market Research
Date: Dec 12, 2012