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Military Sensors Market size was valued at USD 9.97 billion in 2019 and is poised to grow from USD 10.59 billion in 2023 to USD 16.94 billion by 2031, growing at a CAGR of 6.2% in the forecast period (2024-2031).

The military sensors market is fragmented, with a prominent market player acquiring a sizable portion. Prominent players operating in the market are constantly adopting various growth strategies to stay afloat in the market. Product launches, innovations, mergers, and acquisitions, collaborations and partnerships, and intensive R&D are some of the growth strategies that are adopted by these key players to thrive in the competitive market. The key market players are also constantly focused on R&D to supply industries with the most efficient and cost-effective solutions 'Lockheed Martin Corporation', 'Raytheon Technologies Corporation', 'Thales Group', 'BAE Systems plc', 'Northrop Grumman Corporation', 'Honeywell International Inc.', 'Safran Electronics & Defense', 'Leonardo S.p.A.', 'L3Harris Technologies, Inc.', 'General Dynamics Corporation', 'FLIR Systems, Inc.', 'Rheinmetall AG', 'Elbit Systems Ltd.', 'Israel Aerospace Industries Ltd.', 'Textron Inc.', 'Cobham plc', 'Kratos Defense & Security Solutions, Inc.', 'Rockwell Collins, Inc.', 'AeroVironment, Inc.', 'Teledyne Technologies Incorporated'

Battlespace situational awareness is critical for defence forces because it allows them to track enemy movements and decode secret information. It is also critical for detecting hostile threats in complex operations.

Emergence of Wireless Sensor Networks (WSN) Offering Growth Avenues: Wireless Sensor Network (WSN) is a new technology that will be useful in monitoring far-away places. A WSN is a network of transducers that is aided by proper communication infrastructure and is specifically built for monitoring and recording at multiple places. 

Based on region, military sensors market is segmented into North America, Asia Pacific, Europe, Latin America, and Middle East Africa. North America is expected to lead the military sensors market. Significant R&D efforts by key players in the development of innovative military power solutions, and the growing demand for lightweight and energy-efficient sensors are projected to drive the growth of the military sensors market in this region.

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Global Military sensors market

Product ID: SQMIG25AG2008