PUNE, India, 24 Oct. 2016. Worldwide demand for military embedded computing will nearly double over the next five years, driven by an increasing requirement for military electronics and systems for defense and security applications across the globe, predict analysts at market researcher Markets and Markets in Pune, India.
The military embedded systems market will rise by 89.2 percent over the next five years, from $71.29 billion this year to $134.88 billion by 2021, which represents a combined annual growth rate of 13.6 percent during the forecast period, analysts say.
Fueling growth in the military embedded systems market over the next five years are multicore processor technology; emergence of modern electronic warfare (EW) and network centric warfare systems; and the increased use of wireless and cloud computing technologies, analysts say. Hindering growth in this market is the huge cost incurred in obtaining certification for system designs after manufacturers' upgrades, experts say.
A typical embedded system consists of hardware, software, and other components to perform predefined functions. Military embedded systems typically are open-architecture subsystems, which is increasing demand commercial off-the-shelf (COTS) components.
Markets and Markets analysts outline their findings in the report entitled Military Embedded Systems Market by Application. Among today's most influential military embedded computing applications are intelligence, surveillance and reconnaissance (ISR); communications; computers, cyber security; weapons; and command and control.
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The driving technologies in military embedded computing include processors, graphics processing units (GPU), digital signal processing (DSP), and chips that contain intellectual property such as field-programmable gate arrays (FPGAs), analysts say.
North America is the largest market in global military embedded systems because of the huge military budgets of North American countries like the U.S. Still, the Asia-Pacific market should grow at the highest CAGR during the forecast period, analysts say.
Intelligence, surveillance, and reconnaissance will dominate the military embedded computing market during the forecast period. Key players include Kontron AG; Curtis-Wright Corp.; Mercury Systems Inc.; Microsemi Corp; and Xilinx Inc.
For more information contact Markets and Markets online at www.marketsandmarkets.com.
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