DALLAS, June 16, 2014 /PRNewswire/ --
According to the new market research report "Battlefield Management Systems (BMS) Market by Platform (Land, Airborne, and Naval), by Application (Commander Systems, Dismounted Soldier Systems, Tracked and Armored Vehicles, Communication Network Systems and BMS Software) - Forecast & Analysis 2014 - 2019", published by MarketsandMarkets, The Battlefield Management Systems (BMS) Market is estimated to be $12.6 Billion by 2019.
Browse more than 62 market Data Tables with 23 Figures spread through 150 Pages and in-depth TOC on "Battlefield Management Systems Market"
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The report tracks, analyzes, and lays out the market size of the major defense spenders in each region and provides the Battlefield Management Systems Market size on the basis of platforms viz. land-based, naval, and air-borne. It also analyzes the market size by application namely, commander system, dismounted soldier system, tracked and armored vehicles, communication networked equipment, and BMS software.
Land-based BMS has the highest CAGR across the three platforms and will account for 80.33% of the market size during the forecast period. There will be an increasing demand in command and control (C2), soldier modernization, and armored vehicles.
Companies such as General Dynamics, Northrop Grumman Corporation, Saab AB, and Lockheed Martin are the prime manufacturers of BMS. Apart from a general overview of the Battlefield Management systems manufacturers; the report also provides details on their financial positions, product portfolio, key developments, and their SWOT analysis. BMS implements BFT (Blue Force Tracking) technology to track down the individual soldiers and IFF (Identification of friend or foe) technology to minimize friendly fire during combat. BMS manufacturers always tend to make the systems NATO compliant to be fully interoperable during any joint combat.
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The shift towards asymmetric warfare including drone attacks etc is driving the BMS market. Hardware maintenance, modernization, and software up-gradation have played a significant role in winning Battlefield Management systems contracts across the defense industry. The austerity leading to defense budget cuts across the U.S. and Europe are said to continue for a while. Major BMS players from these two regions are now looking towards emerging economies to exploit business opportunities. Transitioning markets include most of the major emerging countries such as India, Saudi-Arabia, Brazil, and Japan.
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