DUBLIN--(BUSINESS WIRE)--Research and Markets has announced the addition of the "Mission Management Systems Market by Application (Defense, Commercial), End-User (Air Based, Naval Based, Land Based and Unmanned Systems Based) and Region (North America, Europe, Asia-Pacific, Rest of the World) - Global Forecast to 2022" report to their offering.
The mission management systems market is projected to grow from USD 13.97 billion in 2016 to USD 27.50 billion by 2022, at a CAGR of 11.95% from 2016 to 2022.
Increasing need for emergency/search & rescue management, situational awareness is expected to drive the market in the coming years.
Based on application, the defense segment was the largest segment of the mission management systems market. The growth is attributed to the modernization of military operations as well as the transformation of systems used in the warfare. In the current scenario, the defense industry is undergoing major transformations, and numerous technological advancements have been undertaken by the market players in order to cater to the needs of the defense forces.
The rise in terrorism and cross-border disputes are some of the major factors fueling the demand for UAV mission management systems in the defense sector.
Market Dynamics
Drivers
- Enhanced Situational Awareness
- Growing Need of Emergency And Search & Rescue Management
- Increased Use of Mission Management Systems for Unmanned Aerial Vehicles
Restraints
- Declining Defense Budgets
Opportunities
- Civilian/Commercial Applications
- Increased Border Patrol & Surveillance
Challenges
- Vulnerability of Sensors
- Cyber Security
Companies Mentioned
- Aerocomputers, Inc.
- Bird Aerosystem Ltd
- Curtiss-Wright Corporation
- Dharma Magna
- Honeywell International, Inc.
- Lockheed Martin Corporation
- Neya Systems, Llc.
- Northrop Grumman Corporation
- Piaggio Aero Industries S.P.A
- Quinetiq Group Plc.
- Saab Group
- Thales Group
For more information about this report visit http://www.researchandmarkets.com/research/ms7nkt/mission
