Situational Awareness Systems Market is Expected to Reach USD 17.41 Billion by 2020

Date: 2015-12-14

The situational awareness systems market is expected to reach USD 17.41 billion by 2020, growing at a CAGR of 7.4% between 2015 and 2020. Increasing initiatives of governments worldwide toward disaster management and rising need for public safety are expected to drive the situational awareness systems market. 

The military & defense industry is expected to dominate the situational awareness systems market during the forecast period 2015 – 2020
There is a high demand for safety and security in the military & defense industry, wherein situational awareness is the key technology. Situational awareness systems improve the information-based technologies to help the military forces to monitor and access global condition in a fast and efficient manner. In addition, the market for homeland security is expected to grow at the highest CAGR among all other industries. The growth in these two industries can be attributed to the rising adoption of situational awareness systems for security & surveillance.

 North America is expected to hold the highest market share during the forecast period 2015 – 2020
The market in APAC is estimated to be the fastest-growing market till 2020. Military & defense, industrial, cybersecurity are the major sectors driving the growth of the situational awareness systems market in APAC. China and Japan are the leading countries in the situational awareness systems market in this region. Moreover, the rising income, high adoption of smart appliances, and rising per capita income in these countries are likely to drive the market in APAC. Some of the major players in this region are Denso Corp. (Japan) and Advanced Micro Devices (Australia). Currently, North America holds the largest share of the situational awareness systems market. It is the most technologically advanced market for situational awareness systems, owing to the high penetration of these systems in this region. The U.S. invests heavily in the military and defense sector for improved situational awareness, which is becoming a major hub for the integration of situational awareness systems. 

The geographical segmentation in the report covers four major regions of the world: North America, Europe, APAC, and RoW. The report also profiles major players in the situational awareness systems market. Some of the major players in this market are General Electric (U.S.), Lockheed Martin Corp. (U.S.), Honeywell International, Inc. (U.S.), Denso Corp. (Japan), BAE Systems, Inc. (U.K.), Rockwell Collins (U.S.), Microsoft Corp. (U.S.), Barco (Belgium), Advanced Micro Devices, Inc. (U.S.), Harris Corp. (U.S.), Xilinx, Inc. (U.S.), and Qualcomm, Inc. (U.S.).

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