Situation Awareness System Market Valuation USD 67.27 Billion by 2031

The global positioning system (GPS) segment is expected to grow the most, and this trend is expected to continue during the forecast period.

PORTLAND, PORTLAND, OR, UNITED STATE, July 26, 2024 /EINPresswire.com/ -- According to a recent report published by Allied Market Research, the global situation awareness system market was valued at $27.74 billion in 2020, and is projected to reach $67.27 billion by 2030, registering a CAGR of 9.19%.

Situation awareness system is a security system used to collect and analyze the surrounding environment to enhance safety and security, environmental monitoring, and mass notification. It helps in improving the responsiveness to daily operations and emergencies. In addition, it is widely used in several applications like military simulation as it offers time to investigate and resolve an issue before any emergency or inconvenience arises. Furthermore, these systems provides the perception of environmental elements and events to time or location along with comprehension of their meaning and projection of their future status.

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Based on product, the command & control system segment captured the largest share in 2020, and is expected to continue this trend during the forecast period. The command & control systems play a crucial role in coordination and safety mainly in military, defense, and aerospace industries. In addition, various governments across the globe are adopting this system for their defense sector as it provides exact information about a situation and improves decision-making capabilities in critical situations, which is expected to propel growth of this segment during the forecast period.

However, the sonar segment is expected to witness highest growth in the upcoming years. This is attributed to the fact that technological advancements played an important role in increasing adoption of sonar to provide improved marine security for military and navy. In addition, features of sonar such as sound detection and accurate situation awareness in deep sea are some of the factors that contribute toward its growth in the situation awareness system market.

Based on industry vertical, the military & defense sector garnered largest share in 2020, and is expected to continue this trend during the forecast period. This situation awareness system (SAS) find wide applications in military & defense, including homeland security, such as security and surveillance of a country or area, information security, and citizen safety. Military uses SAS products such as command & control system, CCTV, and alarms. In addition, defense agencies have been adopting situation awareness system to provide army with proper instructions in case of any threats. Such advantages drive growth of the market.

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However, the healthcare sector is expected to witness highest growth in the upcoming years. This is attributed to increasing security concerns among patients and medical staff, which encourage healthcare providers to implement SAS. In addition, these systems provide real-time situational awareness to surgery centers, hospitals, and clinics. Rise in demand for real-time situation awareness and information security is expected to foster SAS demand in the healthcare industry.

As per situation awareness system market forecast post COVID-19, the global situation awareness system market was valued at $27.74 billion in 2020, and is projected to reach $67.27 billion by 2030, registering a CAGR of 9.19%.

The COVID-19 outbreak has a positive impact on growth of the situation awareness system market, owing to security and safety reasons. However, the outbreak of COVID-19 has affected communities globally, while governments and other sectors are trying their best to respond faster to challenges posed by this pandemic. Furthermore, governments and businesses are increasingly asking employees to work from home or are shifting work to employees in less affected areas to maintain business continuity during the pandemic.

Furthermore, high demand for situational awareness systems for commercial applications such as monitoring as well as observation of satellite operator’s fleet and tracking of satellite moments throughout their lifecycle further drives growth of the market. Moreover, industries such as public sector, military & defense sector, and healthcare sector have shown increased adoption of situation awareness system and are expected to continue using them, owing to rise in focus on digitization, growing technological awareness, and need for better security systems.

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Several government initiatives as well as increasing investments in smart city projects are expected to provide lucrative opportunities for the market post COVID-19.

Key Findings Of The Study

On the basis of component, the displays segment dominated the situation awareness system market in 2020. However, the global positioning system (GPS) segment is expected to exhibit significant growth during the forecast period.

On the basis of type, the command & control system segment dominated the enterprise application market in 2020. However, the sonar segment is expected to exhibit significant growth during the forecast period.

On the basis of industry vertical, the military & defense sector accounted for the highest revenue of market in 2020; however, the healthcare sector is expected to witness the highest growth rate during the forecast period.

On the basis of region, the situation awareness system market was dominated by North America in 2020. However, Asia-Pacific is expected to witness significant growth in the coming years.

This report gives an in-depth profile of some key market players in the situation awareness system which includes Honeywell International Inc., Rockwell Collins, Inc., BAE Systems, Inc., Microsoft Corporation, Denso Corporation, General Electric, Lockheed Martin Corporation, Harris Corporation, D3 Security Management Systems, Inc., and CNL Software Ltd. This study includes market trends, market analysis, and future estimations to determine the imminent investment pockets.

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients in making strategic business decisions and achieving sustainable growth in their respective market domains.

Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies. This helps us dig out market data that helps us generate accurate research data tables and confirm utmost accuracy in our market forecasting. Every data company in the domain is concerned. Our secondary data procurement methodology includes deep presented in the reports published by us is extracted through primary interviews with top officials from leading online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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