LONDON--(BUSINESS WIRE)--The global military electronic chart display and information system market is expected to register a CAGR of over 5% during the period 2018-2022, according to the latest market research report by Technavio.
A key factor driving the market’s growth is the ongoing replacements of naval combat systems. Navies must come to grips with unprecedented challenges and be prepared to face advanced military threats anywhere they operate. The resultant proliferation of sophisticated naval weapons and technology to obstruct the risks and threats has been positively affecting the global military ECDIS market for the past few years. Sales of advanced submarines, warships, and naval combat systems have provided an asymmetric boost to the procurement of ECDIS.
This market research report on the global military electronic chart display and information system (ECDIS) market 2018-2022 provides an analysis of the most important trends expected to impact the market outlook during the forecast period. Technavio predicts an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.
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In this report, Technavio highlights the enhanced real-time GIS in naval applications as one of the key emerging trends in the global military electronic chart display and information system market:
Global military electronic chart display and information system market: Enhanced real-time GIS in naval applications
Information technology has significantly induced computing to facilitate the communication between and among fleets during the war. Advanced technology and efficient communication systems provide the required networking and coordination between various points. ECDIS is fundamentally an automated decision aid, capable of continuously determining a vessel’s position in relation to land, charted objects, navigation aids, and unseen hazards.
“An observable trend nowadays is the incorporation of high-tech tools to enhance the functionality of ECDIS and refine the display results with more inter-connectivity. One such potential means is the real-time GIS,” says a senior analyst at Technavio for research on power.
Global military electronic chart display and information system market: Segmentation analysis
This market research report segments the global military electronic chart display and information system market into the following key regions (the Americas, APAC, and EMEA).
The Americas held the highest share of the global military electronic chart display and information system market in 2017, accounting for a market share of approximately 41%. The market share occupied by this region is anticipated to decrease during 2018-2022.
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Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market sizing
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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