The military sensor market is expected to grow over the forecast period with a CAGR of 4.5%. The global market for military sensors is driven by the development of the military application wearable sensor. Wearable sensors are integrated in the wearable devices to track the health, fitness, and location data of the soldier. These sensors are gaining a lot of traction and deployment because the sensors are reducing the system maintenance cost. In addition, wireless technology offers no additional cost to replace connected devices. Furthermore, the integration of IoT devices into the military application also serves as a major driver of market growth.
The military sensor market was dominated by intelligence & recognition applications based on application, which accounted for more than 35 percent of the global market share. Market growth is attributed to the large-scale adoption of UAVs for the application of intelligence and recognition. On the other hand, during the forecast period, electronic warfare is estimated to grow substantially. Market growth is attributed to the integration of the defence application’s advance MEMS and IoT sensor.
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Based on the component, during the forecast period, the hardware segment is projected to lead. Countries are upgrading their existing platforms with different types of sensors due to the development of the Internet of Things (IoT) and Micro-electromechanical System (MEMS) sensors. It is expected that the increasing demand and deployment of sophisticated sensors for monitoring & monitoring and electronic warfare applications will drive market segment growth in sensors.
During the forecast period, the North American region’s military sensor market is expected to witness a substantial growth due to increased procurement of defence systems and ongoing military modernization programs. According to the article titled Defense Modernization Plans Through 2020 published by the Strategic & International Studies Center in 2016, the US is expected to invest increasingly in aircraft procurement by 2030, leading to the growth of the North American region’s military sensor market.