Military IoT Market Key Highlights:
- Market Size (2024): USD 11.66 Billion
- Projected Market Size (2034): USD 21.08 Billion
- CAGR (2023-2034): 6.1%
Pricing Analysis:
- Price Growth
- Regional Variations
Market Historic Sales
- Total sales volume, year-over-year growth, product categories, and market share.
Revenue Estimation
- Forecasting future revenues based on historical data, market trends, and economic indicators.
Sales by Region
- Breakdown of sales performance across different geographical areas.
Revenue by Manufacturer
- Analysis of revenue contributions from different manufacturers in the market.
Military IoT Market Definition
The military IoT market is an integral aerospace and defense industry segment. This industry deals in the development and distribution of IoT-based solutions for conducting several military operations. The various components of this industry include hardware, software, and services. Military IoT solutions use several connectivity technologies, including cellular, Wi-Fi, satellite communication, and radio frequency. The growing use of military IoT technology for developing and deploying autonomous vehicles and drones has significantly impacted industrial expansion. This market is likely to rise considerably with the growth of the defense industry across the world.
The rising trend of cloud-based IoT solutions for various military applications, along with the increased use of smart weapons, has boosted the market growth. Also, the growing demand for smart helmets, IoT wearables, and UAVs, along with increased investment by the government of several countries, such as the U.S. and Russia, is crucial for the market expansion. Moreover, the integration of IoT in the military sector for several applications such as surveillance, reconnaissance, logistics, navigation, and battlefield management has boosted the growth of the military IoT market.
Advancements in equipment and vehicle fleet management along with growing trend of remote training are expected to create ample growth opportunities for the market players in the future. In June 2024, the Indian Army launched an IoT-enabled generator. This generator is designed for critical situations during warfare.
Military IoT Market Segmentation:
By Type
- Wi-Fi
- Cellular
- Satellite Communication
By Application
- Training & Simulation
- Health Monitoring
Military IoT Market Companies:
- Honeywell International
- Northrop Grumman Corporation (US)
- AeroVironment
- FreeWave Technologies
- AT&T Inc. (US)
- General Atomics (US)
- FLIR Systems Inc. (US)
- Textron Systems (US)
- Reliance Industries Limited (India)
- IBM Corporation (US)
- Bombardier (Canada)
- SAP SE (Germany)
- Forescout Technologies Inc. (US)
- General Electric (US)
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