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%.
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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.
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Major Five Military Electronic Chart Display and Information System Companies:
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.
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Military Electronic Chart Display and Information System Market Type Outlook (Revenue, USD Million, 2020-2024)
Military Electronic Chart Display and Information System Market Geographic Outlook (Revenue, USD Million, 2020-2024)
- North America
- South America
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