The situational awareness market is projected to grow from USD 17.2 billion in 2020 to USD 21.8 billion by 2025, recording a CAGR of 4.9% between 2020 and 2025. Major factors driving the growth of the Growing demand for situational awareness solutions in aviation and military, use of mobility solutions transforming military tactical operations, and growing importance of situational awareness in cyber security to provide significant situational awareness.
General Electric (US), Lockheed Martin (US), Honeywell (US), DENSO (Japan), BAE Systems (UK), UTC (US), Microsoft (US), Barco (Belgium), AMD (US), L3Harris Technologies (US), General Dynamics (US), Xilinx (US), Qualcomm (US), Robert Bosch (Germany), Pleora Technologies (Canada), Nexvision (France), Bertin Instruments (France), Axis Communications (Sweden), Johnson Controls (Ireland), Boeing (US), Airbus (France), and Sensara (US) are some of the key players in the situational awareness market. These players have adopted various growth strategies, such as product launches, acquisitions, expansions, and partnerships, to expand their presence in the situational awareness market. Product launches and contracts have been the most dominating strategy adopted by the key players from 2016 to 2020 to help them strengthen their product portfolio and broaden their customer base.
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General Electric ranked 1st in the situational awareness market in 2019. General Electric (GE) is a technology and financial services company involved in the development and manufacture of products that are used in the generation, transmission, distribution, control, and utilization of electricity. The company operates in segments such as Power, Renewable Energy, Oil & Gas, Aviation, Healthcare, Transportation, Capital, and Lighting.
Lockheed Martin was ranked 2nd in the situational awareness market in 2019. Lockheed Martin is a security and aerospace company. It is principally engaged in the research, design, development, manufacture, integration, and sustainment of advanced technology systems, products, and services. It also provides a broad range of management, engineering, technical, scientific, logistics, and information services.