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(USGovernment-News.Com, February 21, 2017 ) According to a new market research report "Situational Awareness Market Industry (Military & Defense, Aviation, Maritime Security, Automotive, Healthcare, Construction, Industrial, Homeland Security), by Components, Products, Applications, and Geography - Global Trend & Forecast to 2020", the total market is expected to reach USD 17.41 Billion by 2020, at a CAGR of 7.4% during the forecast period. Increasing initiatives of Government towards disaster management and increasing need of public safety drives the situational awareness market.
The growing demand for situational awareness in security & surveillance applications worldwide is one of the key drivers for the market. Situational awareness in security & surveillance is vital for homeland, cyber, maritime, and network security. As terrorism, organized crime, hijacking, hostage taking, refugee smuggling, narcotics trading, and illegal underwater activities are increasing, the situational awareness systems market for the security & surveillance applications is growing rapidly.
Command and control systems are expected to dominate the market for situational awareness systems.
There is a high demand for command and control systems in the situational awareness systems market. Command and control systems help in threat identification and assessment, strategy planning aid, risk analysis, course of action development, and monitoring.
APAC is expected to grow at the highest CAGR during the forecast period.
The market in APAC is expected to grow at a CAGR of 8.7% between 2015 and 2020. Military & defense, industrial, cyber security are the major sectors driving the growth of the situational awareness systems market in APAC. China and Japan are the leading countries in the situational awareness systems market in this region. Moreover, the rising income, high adoption of smart appliances, and rising per capita income in these countries are likely to drive the market in APAC. Some of the major players in this region are Denso Corp. (Japan) and Advanced Micro Devices (Australia).
The report analyzes the market trends for each of the market segments and their respective growth rates. Apart from the market segmentation, the report also covers in-depth analyses such as Porter’s five forces analysis, value chain with a detailed process flow diagram, and market dynamics such as drivers, restraints, opportunities, and challenges of the situational awareness systems market. The report also provides a qualitative and quantitative description of the verticals considered for the market. It also gives a detailed view of the market across four geographical regions: North America, Europe, APAC, and RoW. North America is a major contributing region in terms of market value for the situational awareness systems market, whereas APAC has been identified as the fastest-growing region globally.
The report also profiles the most promising players in the situational awareness systems market. The key players in the market are General Electric (U.S.), Lockheed Martin Corp. (U.S.), Honeywell International, Inc. (U.S.), Denso Corp. (Japan), BAE Systems, Inc.(U.K.), Rockwell Collins (U.S.), Microsoft Corp. (U.S.), Barco (Belgium), Advanced Micro Devices, Inc.(U.S.), Harris Corp. (U.S.), Xilinx, Inc. (U.S.), and Qualcomm, Inc. (U.S.).
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