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LONDON, May 29, 2023 (GLOBE NEWSWIRE) -- According to the Business Research Company’s report on the ground defense system market, the market is expected to grow from $49.4 billion in 2022 to $52.9 billion in 2023, at a compound annual growth rate (CAGR) of more than 7%. Further, the market will reach $65.7 billion by 2027, with a CAGR of more than 5%. North America held the largest ground defense system market share in 2022.

One of the driving factors for the growth of the ground defense system industry is the increasing demand for cybersecurity. Cybersecurity plays a vital role in protecting computers, servers, mobile devices, electronic systems, networks, and data from malicious attacks. In the context of ground defense systems, cybersecurity is essential for supporting operations during battles and safeguarding networks from adversaries during peacetime. The rising need for cybersecurity in the ground defense system market can be attributed to the escalating threats in the digital landscape.

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Major ground defense system companies are BAE Systems PLC, Lockheed Martin Corporation, Northrop Grumman Corporation, Thales Group, Israel Aerospace Industries Ltd., Kongsberg Gruppen, and CNH Industrial N.V.

A key trend in the ground defense system market is the focus on technological advancements. Key companies operating in this market are actively involved in developing innovative technologies.

For example, Thales, a French smart technologies provider, introduced XTRAIM, a Day/night de camouflage capability. XTRAIM's unique feature is its reflex red-dot sight integrated with thermal imaging technology, enabling effective target de-camouflage both during the day and at night. This advanced sight enhances precision night-firing capabilities and is compatible with shoulder-fired assault rifles (HK416) and light machine guns (Minimi). The XTRAIM sight provides a clear operational advantage in both symmetric and asymmetric combat scenarios.

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The global ground defense system market is segmented as -

1) By Component: Products, Services

2) By Technology: Artificial Intelligence, 3D Printing, Internet of Things, Wearable Devices, Other Technologies

3) By Operation: Manned, Unmanned

4) By Application: Logistics And Transportation, Surveillance And Reconnaissance, Cyber Security, Explosive Ordinance Disposal (EOD), Intelligence And Data Warfare, Combat Simulation, Training And Health Monitoring, Other Applications

5) By End-User: Defense Intelligence, Military, Law Enforcement

The ground defense system market report provides an in-depth analysis of the market size, projected growth, and major players. By analyzing the market dynamics, key players, and regional trends, the report equips stakeholders with the necessary information to make informed decisions, identify growth opportunities, and navigate the evolving landscape of the ground defense system market.

Ground Defense System Global Market Report 2023 by The Business Research Company provides insights on the ground defense system market size, ground defense system market segments, ground defense system market trends, drivers and restraints, major competitors’ market positioning, revenues and market shares.

The Business Research Company has published over 4,500+ industry reports, covering more than 2,500+ market segments and 60 geographies. The reports draw on 1,500,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders.

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