Defense Geospatial Market : Growing Adoption of Technology will Spur Growth of the $367.4 Billion by 2032
Defense Geospatial Market by Technology, Positioning System, Remote Sensing, by Type, by Application : Opportunity Analysis and Industry Forecast, 2023-2032
PORTLAND, OR, UNITED STATES, August 10, 2023/EINPresswire.com/ — According to a new report published by Allied Market Research, titled, “Defense Geospatial Market,” The defense geospatial market size was valued at $126.4 billion in 2022, and is estimated to reach $367.4 billion by 2032, growing at a CAGR of 11.4% from 2023 to 2032.
The technology where numerous instruments and techniques are used for the collection, processing, and interpretation of geospatial data is known as geospatial technology. Geospatial technology in defense is used for various purposes including monitoring international boundary. For instance, the Russia-Ukraine war, increased the necessity for reconnaissance and surveillance in defense geospatial share operations. Nations all around the world are investing in defense and security systems as a result of the Russia-Ukraine conflict, which has made the global security scene complex and turbulent. Nations are creating and investing in systems capable of providing accurate and timely intelligence. Geospatial systems play a vital role in military operations by providing accurate and exact information on geography, prospective enemy threats, and enemy activities both within and beyond the national border.
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Moreover, the market is witnessing suitable growth in recent years, owing to the Russia-Ukraine conflict and the rise in surveillance and reconnaissance. Moreover, the key manufacturers operating in the industry have been inclined towards designing and developing systems which can provide geospatial information for defense and security purposes. For instance, In January 2023, the U.S. Air Force is looking for information on commercial equipment that could be utilized to improve communications and construct the Advanced Battle Management System. The technology enables the United States Air Force to acquire precise information and provide accurate insights into its operations. Similarly The UK’s Ministry of Defense (MOD) signed a new Enterprise Agreement with Esri UK worth $48.0 million in June 2023 to help Armed Forces personnel access vital information in any situation, on any network, and on any device. During the following three years, this contract will assist the MOD’s digitalization journey in achieving and maintaining crucial information, as well as reducing decision-making procedures. Such developments offer opportunities for the market across the globe.
The different tools and techniques used for the collection, analysis and interpretation of spatial data in relation with the man-made structures and earth’s surface is referred as Geospatial technology. Events such as Russia-Ukraine war created the demand for the reconnaissance and surveillance in defense geospatial operations. Nations around the world investing on defense and security system, due to the Russia-Ukraine war the security landscape around the globe becomes complex and volatile. The nations are developing and investing on systems that can offer accurate and timely intelligence.
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Geospatial systems play significant role in military operations by providing accurate and precise information about the terrain, potential enemy threats and enemy activities within and beyond the national boundary of the nation.
For instance, team V-BAT (unarmed aerial system) of Shield.AI has collaborated with three other technical organizations, each of which provides highly specialized and experienced capabilities, to enable a very low-risk, non-developmental solution for the upcoming Royal Canadian Navy (RCN) Intelligence, Surveillance, Target Acquisition, and Reconnaissance (ISTAR) Project. In times of war, defense organizations are investing in advanced technologies and skilled personnel to meet the demand for reconnaissance and surveillance in defense geospatial operations. The reconnaissance and surveillance become a regular activity for the defense and research wing of a country. The amount of satellites and many other defense systems in the space collects data and offers insightful information, thus creating demand for the defense geospatial industry system and technology in the market.
Moreover, the factors such as demand of reconnaissance, and surveillance, and Integration of geospatial systems with other systems. However, high cost and lack of accessibility and concern of data privacy and protection hamper the growth of the market. On the contrary, AI combined with geospatial system and Use of AR and VR in defense Geospatial system are the major factors that are expected to provide lucrative opportunities for the market growth during the forecast period.
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Impact of Russia-Ukraine war:
The Russia-Ukraine war helps in the growth of defense geospatial system market. For instance, the ability of geospatial technology is recognized by European countries, which agreed on a mandate for negotiations with the European Parliament on a proposal for a regulation on the Union Security Connectivity program, which will seek to establish a sovereign and secure space-based connectivity system for satellite communication services, while also helping to improve the EU’s resilience against hybrid threats, from 2023 to 2028. Moreover, the Russia-Ukraine war has a positive impact on the defense geospatial market as it creates more demand for the product in Europe and all around the world.
KEY FINDINGS OF THE STUDY
By technology, the global positioning system (GPS) segment is projected to dominate global defense geospatial system market in terms of growth rate.
By type, the network analysis segment is projected to dominate the global defense geospatial system market in terms of growth rate.
By application, the intelligence gathering segment is projected to dominate the global defense geospatial system market in terms of growth rate.
The key players in global defense geospatial market include Airbus, BlackSky, NV5 Global, Inc., Hexagon AB, Environmental Systems Research Institute, Inc. (ESRI), Trimble Inc., Maxar Technologies, MapLarge, Orbital Insight, and TerraGo
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David Correa
Allied Analytics LLP
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