Market Size of Network Centric Warfare Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | > 4.50 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | North America |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Network Centric Warfare Market Analysis
The network-centric warfare market is expected to register a CAGR of over 4.5% during the forecast period.
- The global defense sector has witnessed the minimal impact of the COVID-19 pandemic. The global military expenditure reached approximately USD 2 trillion in 2021. Thus, the growing defense budget from several nations and the introduction of advanced technologies in the defense sector are changing the dynamics of the defense sector. According to the International Data Corporation (IDC) artificial intelligence guide, global spending on artificial intelligence, including AI-centric systems, reached USD 118 billion in 2022.
- Network-centric Warfare (NCW) is the combination of emerging tactics, techniques, and procedures used by the networked forces to create a decisive warfighting advantage. It generates increased combat power by networking sensors, shooters, and decision-makers to achieve shared awareness, a high tempo of operations, increased speed of command, greater lethality, a degree of self-synchronization, and raised survivability. It provides an enhanced shared awareness of the situation and enables more rapid and effective decision-making. Furthermore, the Russia-Ukraine war leads to rising demand for network-centric solutions from European countries due to increasing insecurity and threat to NATO countries from Russia.
- Major countries are highly investing in next-generation technologies to transform their defense capabilities. The growing adoption of advanced technologies such as artificial intelligence, virtual reality, and augmented reality leads to improved situational awareness and real-time decision-making. Furthermore, AI in defense provides various advantages, such as target recognition, strategic decision-making, threat monitoring, combat simulation, and cybersecurity.
