Industry Background:
The Internet of Battlefield Things (IoBT) is a cutting-edge technology that helps military systems improve their operational performance. It's a network of sensors, wearables, and Internet of Things devices that uses cloud and edge computing to build a unified fighting force and connect warfighters to smart technology in armour, radios, weapons, and other items. To decrease the reliance on human warfighters, modern military operations are performed with complicated, highly dynamic, and multidimensional linked technology. Human combatants will be connected to smart technology in armour, guns, radios, and other things in the future, thanks to the IoT. North America is the largest market for the internet of battlefield things followed by the Asia Pacific due to high defence spending.
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
Key Companies Profiled | Thales Group (France), Airbus (France), BAE Systems (United States), L3Harris Technologies, Inc. (United States), Northrop Grumman Corporation (United States), L3Harris Technologies (United States), Leonardo S.p.A. (Italy), The Boeing Company (United States), Lockheed Martin Corporation (United States) and SAIC (United States) |
This growth is primarily driven by Growing Miltary and Defense Industry Worldwide and Demand for Efficient Battlefield Operations, Informed Decisions, and reduced reliance on Human Intervention.
Globally, a noticeable market trend is evident Growing Research on Internet of Battlefield Things The Aerospace & Defense sector in the North America region has been increasing at a sustainable rate, and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Manufacturers, such as Thales Group (France), Airbus (France), BAE Systems (United States), L3Harris Technologies, Inc. (United States), Northrop Grumman Corporation (United States), L3Harris Technologies (United States), Leonardo S.p.A. (Italy), The Boeing Company (United States), Lockheed Martin Corporation (United States) and SAIC (United States), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years. Internet of Battlefield Things market companies operating in these industries are focusing more on efficient growth, improvement of operational efficiency and productivity, achieving high safety standards, and focusing on maintaining sustainable development. The market is highly competitive with a few players occupying the major share. The key players are highly focused on developing and innovating new strategies to maintain their market position and customer base. The companies are coming up with partnerships or agreements along with planning strategic activities such as partnerships, product launches, mergers, and acquisitions which will help them to sustain in the market and maintain their competitive edge
Key Developments in the Market:
On 2nd April 2019, Thales Group a leading French company on the Internet of Battlefield Things market announced the acquisition of Gemalto creating a global leader in digital identity and security. With Gemalto, Thales will cover the entire critical decision chain in a digital world, from data generation via sensors, to real-time decision support. This acquisition increases Thales’s revenues to €19 billion and self-funded R&D to €1 billion a year, with 80,000 employees in 68 countries.
In June 2020, The United States Army announced intentions to collaborate on artificial intelligence research with teams led by the University of Maryland, College Park, as well as the University of Maryland, Baltimore County. This partnership, according to the army, will speed up the development and deployment of safe, effective, and resilient capabilities and technologies, ranging from wearable devices to unmanned aircraft, that work intelligently and cooperatively with each other and human actors across multiple environments.
Influencing Trend:
Growing Research on Internet of Battlefield Things
Market Growth Drivers:
Growing Miltary and Defense Industry Worldwide and Demand for Efficient Battlefield Operations, Informed Decisions, and reduced reliance on Human Intervention
Challenges:
Military Needs Training to Use the Internet of Battlefield Things, Limited Number of Buyers for The Internet of Battlefield Things and Geopolitics Has Huge Influence on The Internet of Battlefield Things
Restraints:
High Cost Associated with the Internet of Battlefield Things
Opportunities:
Large Investments by Developing Nations in the Modernization of the Military Will Boost the Demand for the Internet of Battlefield Things and Increasing Military Cooperation Between Nations Will Increase the Demand for the Internet of Battlefield Things
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Manufacturers landscape impacting the growth of the market. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints in Internet of Battlefield Things Market
- Analysis about New Entrants in Internet of Battlefield Things Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
- An Unbiased Perspective towards Market Performance & Indicators
Against this Challenging Backdrop, Internet of Battlefield Things Study Sheds Light on
The Internet of Battlefield Things Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Internet of Battlefield Things industry Manufacturers. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Internet of Battlefield Things industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Manufacturers can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.