Global Internet of Things (IoT) Defence Market

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Global Internet of Things (IoT) Defence Market is expected to reach US$ 50 Bn in 2024 at a CAGR of 11.8%

Global Internet of Things (IoT) Defence Market

Global internet of things (IoT) defense market is segmented into a component, application, connectivity technology, geography. On the basis of the component, market is divided into Hardware, Software, and Services. Based on the application market is divided into Real time fleet management, Health monitoring, Equipment maintenance, Analytics, Security. According to the connectivity technology market is segmented into Cellular, Wi-Fi, Satellite communication and Radiofrequency. Geographically market is classified into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America.

IoT plays a significant role in the defense industry. Some of the examples of IoT in defence include proactive equipment maintenance provide battlefield situational awareness, remote training, efficient inventory management, real-time fleet management. The factors that propel the growth of the IoT in Defence Industry include increasing demand, rapid urbanization & industrialization, and product development & technological innovations. In addition, factors such as greater internet penetration, considerable growth in information, communication, & technology (ICT), bandwidth & connectivity and reduced cost of powerful sensors & controllers fuel the market growth.

As technology is implementing in different ways through different mediums, use of the internet and technologies are increasing. India’s DRDO (Defence Research & Development Organization) and DOD (Department of Defence) has been using IoT concepts and are improving their warfare systems. DOD‟s vision of net-centric warfare has four key elements-networked forces with improved information, information sharing and collaboration that enhances quality and situational awareness, shared situational awareness that enables self-synchronization, and the combination of the other three elements to increase mission effectiveness.

North America is projected to account a major share in the IoT in Defence Industry. The key factor that attributes to the growth of this region is due to technological innovations, well-established infrastructure and high implementation of IoT. Whereas, the Asia Pacific is expected to display significant growth rates in the IoT in Defence Industry. This is primarily due to emerging economies such as China and India, increase in urbanization, and a rise in investment.

Key players operated in market includes AEROVIRONMENT, INC., AT & T, ELBIT SYSTEMS, FREEWAVE TECHNOLOGIES, HONEYWELL INTERNATIONAL, INC., NORTHRUP GRUNMAN, PROX DYNAMICS, RADISYS, TEXTRON SYSTEMS, BOMBARDIER INC., IBM, AIRBUS SE, THE BOEING COMPANY, BAE SYSTEMS, SAP SE, ZODIAC AEROSPACE, ARMIS, BASTILLE, CENTRI TECHNOLOGY, CISCO, CLAROTY, DARKMATTER, DEDRONE, DELL, EMC, FORGEROCK ,MCAFEE, NEWSKY SECURITY, PALO ALTO NETWORKS.
The scope of Global Internet of Things (IoT) Defence Market:

Global Internet of Things (IoT) Defence Market, by Component:

• Hardware
• Software and Services
Global Internet of Things (IoT) Defence Market, by Application:

• Real time fleet management
• Health monitoring
• Equipment maintenance
• Analytics
• Security
Global Internet of Things (IoT) Defence Market, by Connectivity Technology:

• Cellular
• Wi-Fi
• Satellite communication
• Radio frequency
Global Internet of Things (IoT) Defence Market, by Geography:

• North America
• Europe
• Asia Pacific
• Middle East & Africa
• Latin America
Key Players Operated in Global Internet of Things (IoT) Defence Market Includes

• AEROVIRONMENT, INC.
• AT & T
• ELBIT SYSTEMS
• FREEWAVE TECHNOLOGIES