Report Code : A00250
The situation awareness system market trends in North America dominated the overall situation awareness system industry in 2020, and is expected to continue this trend during the forecast period. This is attributed to rise in investments in situational awareness systems by the military & defense sector in the U.S., which fuels growth of the market. Moreover, the region is witnessing high adoption of space situational awareness solutions, owing to high demand for space situational awareness activities from prominent organizations such as the U.S. department of defense and NASA. In addition, rise in reliance on space assets and maintaining safe space operations further drive adoption of situational awareness system in the aerospace sector in North America, which is expected to provide lucrative growth opportunities for the market. However, Asia-Pacific is expected to witness highest growth in the upcoming years. Growth in penetration of new IT technologies, traditional security defense s
Rachita Rake
Research Analyst, ICT at Allied Market Research
According to a recent report published by Allied Market Research, titled, “Situation Awareness System Market Analysis by Component, Type, Industry Vertical and Region: Global Opportunity Analysis and Industry Forecast, 2021–2030,” The global situation awareness system market was valued at $27.74 billion in 2020, and is projected to reach $67.27 billion by 2030, registering a CAGR of 9.19%.
Situation awareness system is a security system used to collect and analyze the surrounding environment to enhance safety and security, environmental monitoring, and mass notification. It helps in improving the responsiveness to daily operations and emergency situations. In addition, it is widely used in several applications like military simulation as it offers time to investigate and resolve an issue before any emergency or inconvenience arises. Furthermore, these systems provides the perception of environmental elements and events with respect to time or location along with comprehension of their meaning and projection of their future status.
On the basis of product, the command & control system segment captured the largest share in 2020, and is expected to continue this trend during the forecast period. The command & control systems play a crucial role in coordination and safety mainly in military, defense, and aerospace industries. In addition, various governments across the globe are adopting this system for their defense sector as it provides exact information about a situation and improves decision-making capabilities in critical situations, which is expected to propel growth of this segment during the forecast period. However, the sonar segment is expected to witness highest growth in the upcoming years. This is attributed to the fact that technological advancements played an important role in increasing adoption of sonar to provide improved marine security for military and navy. In addition, features of sonar such as sound detection and accurate situation awareness in deep sea are some of the factors that contribute toward its growth in the situation awareness system market.
On the basis of industry vertical, the military & defense sector garnered largest share in 2020, and is expected to continue this trend during the forecast period. This situation awareness system (SAS) find wide applications in military & defense, including homeland security, such as security and surveillance of a country or area, information security, and citizen safety. Military uses SAS products such as command & control system, CCTV, and alarms. In addition, defense agencies have been adopting situation awareness system to provide army with proper instructions in case of any threats. Such advantages drive growth of the market. However, the healthcare sector is expected to witness highest growth in the upcoming years. This is attributed to increasing security concerns among patients and medical staff, which encourage healthcare providers to implement SAS. In addition, these systems provide real-time situational awareness to surgery centers, hospitals, and clinics. Rise in demand for real-time situation awareness and information security is expected to foster SAS demand in the healthcare industry.
As per situation awareness system market forecast post COVID-19, the global situation awareness system market was valued at $27.74 billion in 2020, and is projected to reach $67.27 billion by 2030, registering a CAGR of 9.19%.
The COVID-19 outbreak has a positive impact on growth of the situation awareness system market, owing to security and safety reasons. However, the outbreak of COVID-19 has affected communities globally, while governments and other sectors are trying their best to respond faster to challenges posed by this pandemic. Furthermore, governments and businesses are increasingly asking employees to work from home or are shifting work to employees in less affected areas to maintain business continuity during the pandemic. Furthermore, high demand for situational awareness systems for commercial applications such as monitoring as well as observation of satellite operator’s fleet and tracking of satellite moments throughout their lifecycle further drives growth of the market. Moreover, industries such as public sector, military & defense sector, and healthcare sector have shown increased adoption of situation awareness system and are expected to continue using them, owing to rise in focus on digitization, growing technological awareness, and need for better security systems.
Several government initiatives as well as increasing investments in smart city projects are expected to provide lucrative opportunities for the market post COVID-19.
Key Findings Of The Study
This report gives an in-depth profile of some key market players in the situation awareness system which includes Honeywell International Inc., Rockwell Collins, Inc., BAE Systems, Inc., Microsoft Corporation, Denso Corporation, General Electric, Lockheed Martin Corporation, Harris Corporation, D3 Security Management Systems, Inc., and CNL Software Ltd. This study includes market trends, market analysis, and future estimations to determine the imminent investment pockets.
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Situation Awareness System Market by Component Type (Network Video Recorders, Sensors, Global Positioning System, Displays, and Others), Type (Command & Control System, Fire & Flood Alarm System, Radio Frequency Identification (RFID), Radar, Chemical Biological Radiological and Nuclear (CBRN) Systems, Sonar, Physical Security Information Management (PSIM), and Others), Industry Vertical (Military & Defense, Healthcare, Aerospace, Marine security, Automotive, Mining and Oil & Gas, Industrial, Cyber Security, and Others): Global Opportunity Analysis and Industry Forecast, 2021-2030.
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