LONDON–(BUSINESS WIRE)–The global military electronic chart display and information system market is expected to grow by USD 32.08 million as per Technavio. This marks a significant market slow down compared to the 2019 growth estimates due to the impact of the COVID-19 pandemic in the first half of 2020. However, steady growth is expected to continue throughout the forecast period, and the market is expected to grow at a CAGR of over 2%.
Request challenges and opportunities that influence COVID-19 pandemic – Request Free Sample Report on COVID-19 Impacts
Read the 120-page report with TOC on “Military Electronic Chart Display and Information System Market Analysis Report by Type (Submarines, Frigates, Corvettes, Destroyers, and Others), Geography (North America, Europe, APAC, South America, and MEA), and the Segment Forecasts, 2020-2024”.
The market is driven by the ongoing replacement of naval combat systems. In addition, the enhanced real-time GIS in naval applications is anticipated to boost the growth of the military electronic chart display and information system market.
Growing border tensions among neighboring countries worldwide are resulting in increased investments towards the replacement and upgradation of existing combat systems and the procurement of new-age weapons. Also, several countries are manufacturing new combat ships, maritime patrol aircraft, and deploying mines to boost their naval platforms. This is increasing the sale of advanced submarines, warships, and naval combat systems, which is driving the demand for military electronic chart display and information systems.
Buy 1 Technavio report and get the second for 50% off. Buy 2 Technavio reports and get the third for free.
View market snapshot before purchasing
Major Five Military Electronic Chart Display and Information System Companies:
ADVETO AB
ADVETO AB operates its business through segments such as System Onboard and Landbased systems. The company offers ECDIS 4000.
Danelec Marine AS
Danelec Marine AS operates its business through segments such as VDR, ECDIS, and DanelecConnect. The company offers a comprehensive array of VDRs like DM100 VDR, DM100 S-VDR, DM100 L-VDR.
Elbit Systems Ltd.
Elbit Systems Ltd. operates its business through the Unified Reportable Segment. The company offers Helmet Display and Tracking system.
Kongsberg Gruppen ASA
Kongsberg Gruppen ASA operates its business through segments such as Autonomous underwater vehicle (AUV), marine robots, and autonomous vehicles, Bridge systems, Camera systems, and Deck systems. The company offers naval sonar ASW and mine hunting systems, and waterside security systems.
Lockheed Martin Corp.
Lockheed Martin Corp. operates its business through segments such as Aeronautics, Missiles and Fire Control, Rotary and Mission Systems, and Space. The company offers Surface Warfare Systems & Solutions.
Register for a free trial today and gain instant access to 17,000+ market research reports.
Technavio’s SUBSCRIPTION platform
Military Electronic Chart Display and Information System Market Type Outlook (Revenue, USD Million, 2020-2024)
- Submarines
- Frigates
- Corvettes
- Destroyers
- Others
Military Electronic Chart Display and Information System Market Geographic Outlook (Revenue, USD Million, 2020-2024)
- North America
- Europe
- APAC
- South America
- MEA
Technavio’s sample reports are free of charge and contain multiple sections of the report, such as the market size and forecast, drivers, challenges, trends, and more.
Related Reports on Industrials Include:
Global Military Aerial Refueling Tanker Market – Global military aerial refueling tanker market by aerial refueling technologies (probe-and-drogue and boom-and-receptacle) and geography (North America, APAC, Europe, MEA, and South America).
Global Military Heads-up Display Market – Global military heads-up display market by geography (the Americas, EMEA, and APAC) and product (wearable military HUD and platform-based military HUD).
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
