Market Size (2018)
$9.66B
Vertical: AnDBase Year: 201810 Sections
Market Size (2018)
$9.66B
Projected (2024)
$17.72B
CAGR (2018–2024)
10.6%
Key Players
5+
The global military IoT market is growing at a significant rate owing to the changing nature of warfare and increased use of IoT in battlefield management systems (BMS) for special operations. The global military IoT market is expected to register a 10.64% CAGR during the forecast period of 2019 to 2024. In 2018, the market was led by North America with a 30.93% share, followed by Europe and Asia-Pacific with shares of 26.13% and 24.59%, respectively.
The global military IoT market has been segmented based on component, technology, application, and region. The hardware component segment accounted for the largest share of 42.02% of the global military IoT market in 2018 while the Wi-Fi technology segment was the largest with a market share of 52.42% in 2018. The real-time fleet management application segment led the market with a share of 23.29% in 2018.
The Military IoT Market market is projected to grow at a CAGR of 10.6% from 2018 to 2024.
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View Subscription PlansMilitary IoT Market
Historical performance and future projections (2020–2030, USD Billion)
Market Size (USD Mn)
Military IoT encompasses the use of technologies such as global positioning systems (GPS) and satellite communication to provide real-time information to military commanders. The real-time data provided by military IoT systems enables users to plan operations and take optimal decisions. Additionally, these systems offer various benefits such as improved situational awareness and information on equipment health, enabling users to experience enhanced safety. However, issues associated with data management and threats to cybersecurity may hamper market growth.
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View Subscription PlansResearch Process
Wantstats analysis is based on interviews with industry experts who offer insight into the market structure, market segmentation, technology assessment, competitive landscape (CL), market penetration, as well as the emerging trends. Besides primary interviews (~80%) and secondary research (~20%), their analysis is based on years of professional expertise in their respective industries. Our analysts also predict where the market will be headed in the next five to 10 years, by analyzing historical trends and the current market position. Furthermore, the varying trends in segments and categories in each region are studied and estimated based on primary and secondary research.
Primary Research
Extensive primary research was conducted to gain a deeper insight into the market and industry performance. For this particular report, we have conducted primary surveys (interviews) with the key level executives (VPs, CEOs, marketing directors, and business development managers, among others) of the major players active in the market. In addition to analyzing the current and historical trends, our analysts predict where the market is headed in the next five to 10 years.
Secondary Research
Secondary research was mainly used to collect and identify information useful for an extensive, technical, market-oriented, and commercial study of the global military IoT market. It was also used to obtain key information about major players, market classification and segmentation according to industry trends, and developments related to the market and technology. For this study, analysts have gathered information from various credible sources such as annual reports, SEC filings, journals, white papers, corporate presentations, company websites, international organizations, and paid databases.
Market Size Estimation
Both the top-down and bottom-up approaches were used to estimate and validate the size of the market and to estimate the size of various other dependent sub-markets of the overall global military IoT market. The key players in the market were identified through secondary research, and their market contributions in different applications across the globe were determined through primary and secondary research. This entire process included the study of the annual and financial reports of the top market players and extensive interviews for key insights with industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares, splits, and breakdowns were determined using secondary sources and verified through primary sources. All the possible parameters that affect the market covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to arrive at the final quantitative and qualitative data. This data has been consolidated, and detailed inputs and analysis from Wantstats added before being presented in this report. The following figure shows an illustrative representation of the overall market size estimation process employed for the purpose of this study.
Base Year
2018
Historical Period
2018 – 2018
Forecast Period
2019 – 2024
Primary Interviews
150+
Historical data (2018–2018) and forecast period (2018–2024)
Our research process spans primary interviews with industry stakeholders combined with comprehensive secondary data analysis, validated through triangulation across multiple independent sources.
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View Subscription PlansThe global military IoT market comprises many global and regional players adopting strategies such as mergers & acquisitions and expansions to improve their positions in the market. High competition and integrated solutions by industry participants are the key factors that are expected to impact market growth. Vendors compete based on cost, product quality, and reliability. It is vital for these players to offer cost-effective and high-quality products to succeed in the competitive market environment.
The growth of market vendors depends on market conditions, government regulations, and industry development. Thus, they focus on improving their products and expanding their regional presence. Harris Corporation (US), Collins Aerospace (US), Thales Group (France), General Dynamics Corporation (US), Leonardo S.p.A (Italy), Northrop Grumman Corporation (US), and Elbit Systems (Israel), are the leading players, accounting for 76.08% of the market share in 2018.
BAE Systems Plc (UK), Raytheon Company (US), Rolta India Limited (India), Saab AB (Sweden), Lockheed Martin Corporation (US), Atos (France), and Cobham Plc (UK) are some of the other key players operating in the global military IoT market.
The leading players, as mentioned above, are dominating the market due to their extensive product offering, industry experience, and vast geographic reach. These players may strengthen their presence worldwide through expansions and acquisitions during the forecast period. Players with access to better technologies can develop unique and innovative products and services, which could render the competitors’ offerings obsolete. The competitive environment in the market is likely to intensify further due to the increasing number of expansions.
Threat of New Entrants
The threat of new entrants denotes the impact of players trying to enter the market. The global military IoT market is expected to showcase significant growth. The initial investments required for the technology used to manufacture IoT-based systems and the research and development expenditure are moderate. Therefore, the threat of new entrants to the existing industry participants is projected to be moderate during the forecast period.
Bargaining Power of Suppliers
The bargaining power of suppliers refers to the degree of influence that input providers exert over the market dynamics. Suppliers in the global military IoT market provide sub-systems and components. The switching costs are moderate as manufacturers tend to enter into long-term associations with suppliers to ensure an uninterrupted supply of required materials. Product differentiation is also low and there are several suppliers in the market. Therefore, the bargaining power of suppliers is expected to range between low and moderate.
Bargaining Power of Buyers
The bargaining power of buyers in the global military IoT market is expected to be moderate. Buyers can be broadly categorized as the defense forces of various countries. There are numerous buyers in the global military IoT market, who are highly reliant only on successful and established IoT-based systems manufacturers. Furthermore, brand recognition has a high impact on buyers’ choices. The switching costs for buyers are moderate due to less variation in the costs of IoT-based systems manufactured by key players.
Threat of Substitutes
The threat of substitutes refers to the effect of substitute systems on the concerned market. Presently, there are no substitutes available for IoT-based systems for the military although the high cost of these systems may lead to the introduction of substitutes in the future. Thus, the threat of substitutes is projected to be low.
Rivalry
There is intense competition among the existing players in the market, with companies investing heavily in the research and development of IoT-based systems to meet the various requirements of the end users. Every company in the market is focused on offering the best quality systems that provide accurate information, virtual reconnaissance, dynamic situational awareness, flexible communications, and other features at competitive prices. Hence, the intensity of rivalry in the market is expected to be high.
Market estimates by geography (2024)
InsightNorth America leads with $5.54B by 2024, while Asia Pacific is projected to grow fastest at a 11.7% CAGR.
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View Subscription Plans| REGION | 2018 | 2018 | 2024 | CAGR | SHARE |
|---|---|---|---|---|---|
| South America | $495.00M | $612.30M | $754.90M | 7.3% | 4% |
| North America | $2.99B | $4.07B | $5.54B | 10.9% | 31% |
| Europe | $2.52B | $3.41B | $4.61B | 10.6% | 26% |
| Asia Pacific | $2.38B | $3.31B | $4.61B | 11.7% | 26% |
| Middle East and Africa | $1.28B | $1.68B | $2.20B | 9.5% | 12% |
| Total | $9.66B | $13.08B | $17.72B | 10.6% | 100% |
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View Subscription PlansTotal Market Size
$17.72B
| APPLICATION | REVENUE ($B) | GROWTH RATE | MARKET PENETRATION |
|---|---|---|---|
| Software | $7.27B | 11.9% | 41% |
| Hardware | $6.89B | 9.2% | 39% |
| Services | $3.56B | 11.1% | 20% |
* Revenue projections based on 2025 estimates. Growth rates represent CAGR 2024–2030. Market penetration indicates current adoption rate within addressable market segments.
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Analytical insights on Military IoT Market covering market dynamics, competitive landscape, and strategic outlook.
The Military IoT Market market is projected to reach $17.72B by 2024, growing at 10.6% CAGR. The Software segment holds the largest share.
The global military IoT market is growing rapidly due to the changing nature of warfare and increased use of IoT in BMS for special operations. However, the growth of the market may be hindered by issues associated with data management and cybersecurity.
The nature of warfare has changed significantly over the past decade with the increase in anti-extremist missions globally. It is transforming from the use of only weapons to the use of technologically advanced equipment such as IoT-based systems. Currently, the use of advanced technology is a key determining factor for the success of military missions. These include communication systems, computers, navigation devices, and upgraded weapon sights, which help soldiers deal with critical situations. They provide soldiers with greater adaptability and maneuverability. For instance, Elbit Systems developed a weapons-integrated system, WinBMS, which uses IoT as a network-integrated solution to enhance the connectivity and coordination of maneuvering forces. Moreover, simulation studies and experimental evaluations of IoT systems have proven that they help pinpoint soldier position and provide required information on the enemy during combat operations, thereby, enhancing the situational awareness of soldiers. Due to these factors, the demand for military IoT has increased, which is expected to drive the growth of the market during the forecast period.
The rising number of territorial disputes and security issues in China, India, and other Asian countries have resulted in increased spending by governments on the modernization of military systems and equipment. The governments in these countries are looking to implement advanced systems to tackle increasingly complicated combat operations. Moreover, these countries have implemented situational awareness programs such as HELIOS, a laser system program of the US Navy, which increases situational awareness along with long-range intelligence and surveillance and counter-unmanned aerial system capabilities. IoT plays a vital role in integrating advanced systems and aligning them to the specific needs of operations. Therefore, the focus on military modernization and increasing need for situational awareness offer an opportunity to manufacturers to develop cost-effective IoT systems. Companies such as General Electric, Honeywell Corporation, and Thales Group have started designing and developing advanced IoT-based systems by minimizing the overall cost. In July 2018, Thales Group and Microsoft Corporation formed a partnership for the development of a common defense cloud solution for armed forces.
The efficient management of data is a major factor restraining the growth of the global military IoT market. Military IoT platforms transmit large volumes of digital data to servers used at various levels of application. The increasing adoption of military IoT and shifting technological environment require ample storage to manage the data transmitted from various processes. During warfare the processing and availability of required data to personnel are of prime importance. At present many leading defense forces lack the systems and equipment to process key warfare data. Issues with the analysis and storage of this data can reduce the efficiency of operations and IoT solutions, which is expected to hinder the growth of the global military IoT market during the assessment period.
Cloud computing allows users to access data and programs on demand from a centralized pool. The use of IoT generates large amounts of data and cloud computing provides a pathway for this data to travel. Cloud computing creates a single platform to handle and integrate data from multiple sources, including people, processes, and systems. Several cloud providers charge on a pay-per-use model, which means that clients only pay for the computer resources that they use. Economies of scale is another way in which cloud providers can benefit smaller IoT providers and help reduce their overall costs.
The defense forces of different countries across the globe are incorporating artificial intelligence (AI) with weapons and other systems used on land, sea, air, and space. Using AI in warfare systems has enabled the development of efficient warfare systems, which requires less human interference. It has also led to increased synergy and enhanced performance of warfare systems while requiring less maintenance. AI is also expected to empower autonomous and high-speed weapons to carry out collaborative attacks. Though the use of AI in the military is at a nascent stage, some progress has already been made due to investments in AI by certain leading carriers. In the military, AI is used in warfare platforms, cybersecurity, logistics and transportation, target recognition, battlefield healthcare, combat simulation and training, threat monitoring and situational awareness, and data information processing.
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Profiles of 102 companies operating in the Military IoT Market market, including revenue, employee count, and market positioning where available.
Showing 102 of 102 companies
FLIR Systems Inc.
Company Global Headquarters: US Founded: 1978 Workforce: ~3,649 Company Overview. FLIR Systems Inc. (FLIR Systems) designs, develops, markets, and distributes the solutions such as thermal imaging cameras, imaging sensors, and their components. The company sells its products to various end markets, including original equipment manufacturers (OEMs), homeland security, industrial, consumer, military, enterprise, environmental, and infrastructure. FLIR Systems operates through six segments, namely surveillance, instruments, security, OEM & emerging markets, maritime, and detection. The surveillance segment offers recognition and enhanced imaging solutions under commercially developed, military qualified (CDMQ) models for law enforcement, military, public safety agencies, and other government customers. The company operates globally in the Americas, Europe, Asia, and the Middle East and Africa.
Northrop Grumman Corporation
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Teledyne Controls Llc
Company Headquarters: US Founded: 1916 Workforce: ~ 156,000 Company Working: Boeing Company's Défense, Space & Security (BDS) is a business unit that specializes in the production, maintenance, and improvement of fixed-wing and rotary-wing aircraft, commercial and government satellites, human spaceflight programs, and weapons. BDS is a renowned global leader in the defence and space industry, with core competencies in the development, production, and mission-critical upgrades of comprehensive solutions. Its primary markets include aeronautics, space, and weapons. BDS is committed to delivering innovative, digitally advanced, and highly efficient solutions to its customers. Its expertise lies in the production and integration of complex systems that provide integrated solutions to meet the diverse needs of its customers. BDS is a highly skilled and experienced contractor that delivers advanced solutions in the fields of defence, space, and security, with an emphasis on quality, efficiency, and customer satisfaction.
Collins Aerospace
Company Headquarters: North Carolina, United States Founded: 2018 Workforce: ~77,200 Company Working: Collins Aerospace, a subsidiary of Raytheon Technologies Corporation (RTX), is a leader in technologically advanced and intelligent solutions for the global aerospace and defense industry. The company operates its business in four main segments which are, Avionics, Mission Systems, Mechanical Systems, and Power and Controls. Collins Aerospace provides a wide range of products and services for the aviation sector, including aircraft data systems, connectivity solutions, electrical power systems, flight deck systems, cabin systems, and more. The Aircraft Interface Device (AID) segment of the company offers a variety of products that enable secure and efficient data transfer between avionics systems and electronic flight bags, wireless devices, and ground servers. Moreover, Collins Aerospace also develops custom AID solutions for specific customer requirements. The company has its businesses in more than 60 countries and regions across North America, Europe, Asia, and Africa
Astronics Corporation
Company Headquarters: New York, United States Founded: 1968 Workforce: ~2700 Company Working: Astronics Corporation (ATRO) is a leading provider of advanced technologies for the aerospace and defense industries. The company operates its business in two main segments which are, Aerospace and Test Systems. ATRO is an innovator in aircraft data systems, connectivity solutions, electrical power systems, lighting and safety systems, and other products and services for the aviation sector. The Aircraft Interface Device (AID) segment of the company offers a range of products that enable secure and efficient data transfer between avionics systems and electronic flight bags, wireless devices, and ground servers. ATRO’s AID products include the webCS Wireless Aircraft Communications Server, the webFB Smart Aircraft Interface Device, and the Ballard Technology AID. ATRO’s AID products are used by various airlines, such as Cathay Pacific Airways1, to support their eEnabled Aircraft Program. Additionally, ATRO also develops custom AID solutions for specific customer requirements. The company has its businesses in more than 50 countries and regions across North America, Europe, Asia, and Australia
Lufthansa
Company Headquarters: Germany Founded: 1953 Workforce: ~109,509 Company Working: Lufthansa Technik is a part of Lufthansa group is among the leading providers of maintenance, repair, and overhaul services (MRO) for civilian commercial aircraft. The Lufthansa Technik group comprises 30 plants offering technical aviation services worldwide. The company also holds direct and indirect stakes in 64 companies. Lufthansa Technik AG serves more than 800 customers worldwide, including OEMs, aircraft leasing companies, operators of VIP jets, governments, and armed forces, as well as airlines. Around one-third of its business comes from entities in the Lufthansa Group and two-thirds from clients outside the Lufthansa Group. The volume of demand for aircraft maintenance, repair, and overhaul (MRO) services continued to rise in the year 2022 as a result of the recovery of passenger traffic. The Passenger Airlines segment includes, on the one hand, the network airlines Lufthansa German Airlines, SWISS, Austrian Airlines, and Brussels Airlines. As part of the multihub strategy, they offer their passengers a broad range of flights from their global hubs in Frankfurt, Munich, and Zurich as well as their national hubs in Vienna and Brussels. Lufthansa German Airlines also includes the regional airlines Lufthansa CityLine, Air Dolomiti, and Eurowings Discover, the Lufthansa Group’s holiday airline. Besides the network airlines, Eurowings also belongs to the Passenger Airlines segment. This airline provides a comprehensive range of point-to-point connections for European short-haul destinations, in particular from German-speaking countries. Besides its Passenger Airlines business segment, the Lufthansa Group also comprises aviation services. This includes the Logistics, MRO, and Catering segments in particular. The Lufthansa Group also includes the Additional Businesses and Group Functions. These comprise Lufthansa AirPlus, Lufthansa Aviation Training, and Lufthansa Systems especially.
12 interactive charts drawn from the Military IoT Market dataset — market size, regional splits and each segment breakdown. Open one to read its full data table and download it.
Global Military IoT Market Rest Of Middle East And Africa, Saudi Arabia and UAE Of Middle East And Africa
Global Military IoT Market China, India, Japan, South Korea and Rest Of Asia Pacific By Country
Global Military IoT Market Germany, France, United Kingdom, Russian Federation and Rest Of Europe By Country
Global Military IoT Market United States and Canada Of North America By Country
Global Military IoT Market Brazil and Rest Of South America
Global Military IoT Market By Region
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