Zion Market Research: Defense Tech Investments to Fuel C4ISR Sector Growth

Zion Market Research: Defense Tech Investments to Fuel C4ISR Sector Growth - top government contractors - best government contracting event

Zion Market Research has predicted the global market for command and control, computers, communication, intelligence, surveillance and reconnaissance systems will hit a value of $127.2B by 2024 at a 3.6 percent compound annual growth rate.

Investments in defense technology and demand for communication and surveillance systems and smart city projects will be among the forces that will steer the C4ISR industry’s direction over the next six years, the research company said Dec. 21.

The aerospace sector will likely drive the European C4ISR market, while the adoption of commercial drones will help fuel market growth in the Asia-Pacific region.

Zion Market Research reported the U.S. government aims to expand its space surveillance efforts and works with Australia to build a space-based radar system.

The report profiled key industry players such as Lockheed Martin, Raytheon, BAE Systems, General Dynamics, Thales GroupL3 Technologies and Harris.

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