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With military operations becoming highly sophisticated around the world there is an increase in the demand for portable electronics for quick response, which resulted in several key defense spenders to invest heavily in this market of man-portable electronics devices. Increasing focus on soldier modernization program and rising demand for new man-pack communication devices as well as wearable night vision, thermal imaging systems and M-UAV is contributing significantly to the growth of the global man-portable electronics market.
sample companies are Harris Corporation L3 Technologies Elbit Systems FLIR Systems Thales General Dynamics Saab AB Leonardo S.p.A BAE Systems Lockheed Martin Raytheon.
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The global man-portable military electronics market, valued at US$4.7 billion in 2017, is projected to grow at a CAGR of 3.29% over the forecast period, to reach US$6.4 billion by 2027 and cumulatively value US$55.6 billion.
The market consists of three categories: communication, ISTAR and force protection.The market is expected to be dominated by communication segment, which will account for 56.7% of the market, followed by ISTAR and force protection segments with shares of 28.4% and 14.9% respectively. North America is projected to dominate the sector with a share of 37.8%, followed by Asia Pacific, with an estimated share of 36.0%.
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