26 December 2018
– The Global IoT
in Defence Market is expected to grow at a significant CAGR in
the upcoming years as the scope and its applications are increasing across the
globe. A system of interconnected computing devices, objects, mechanical and
digital machines, animals or people that are imparted with distinctive
identifiers and the capability to transfer information over a network without
necessitating human-to-human or human-to-computer interaction is referred to
Internet of Things (IoT).
IoT plays a significance role in the defence industry. Some
of the examples of IoT in defence include proactive equipment maintenance;
provide battlefield situational awareness, remote training, efficient inventory
management, real-time fleet management, etc. The factors that propel the growth
of the IoT in Defence Industry include increasing demand, rapid urbanization
& industrialization, and product development & technological
innovations.
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IoT in Defence Market is classified on the basis of product
type, applications, and geography. This industry is segmented by product type
as infrastructure and equipment monitoring, military personnel monitoring and
tracking, smart weaponry, and others. IoT in Defence Market is classified on
applications as home security, industry management, natural disasters, public
safety, and others. IoT in Defence Industry is classified on the basis of
geography as North America, Latin America, Western Europe, Eastern Europe, Asia
Pacific, Japan and Middle East and Africa.
The North American region consists of the U.S., and Canada.
Latin America region consists of Mexico and Brazil. The Western European region
consists of Germany, Italy, France, England and Spain. The Eastern European
region consists of Poland and Russia. Asia Pacific region consists of China,
India, ASEAN, and Australia & New Zealand. The Middle East and African
region consists of GCC, South Africa and North Africa. In case of geographical
region, North America is projected to account a major share in the IoT in
Defence Industry. The key factor that attributes to the growth of this region
is due to technological innovations, well established infrastructure and high
implementation of IoT.
Whereas, Asia Pacific is expected to display significant
growth rates in the IoT in Defence Industry. This is primarily due to emerging
economies such as China and India, increase in urbanization, and rise in
investment. Some of the key players that fuel the growth of the IoT in Defence
Market include Aerovironment, Honeywell, Track 24, Prox Dynamics, Elbit
Systems, General Atomics Aeronautical Systems, Freewave, Textron Systems,
Northrup Grunman, Radisys, and others. The key players are focusing on
inorganic growth to sustain themselves amidst fierce competition. As such, mergers,
acquisitions, and joint ventures are the need of the hour.
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Market Segment:
Market segment by
Type, the product can be split into
• Infrastructure and Equipment Monitoring
• Military Personnel Monitoring and Tracking
• Smart Weaponry
Market segment by
Application, IoT in Defence can be split into
• Natural Disasters
• Industry Management
• Public Safety
• Home Security
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