Situation Awareness System Market: Dynamics, Analysis and Growth Opportunities 2030
Situation Awareness System Market
The increase in applications of SAS in military and defense, industrial, and cyber security drives the growth of the market.
PORTLAND, PORTLAND, OR, UNITED STATES, February 12, 2024 /EINPresswire.com/ -- According to the report, the global situation awareness system (SAS) industry was estimated at $21.61 billion in 2018, and is expected to hit $36.19 billion by 2026, registering a CAGR of 6.8% from 2019 to 2026.
Surge in demand for security & surveillance systems, rise in concerns over public safety, development of smart infrastructure, and increase in dependency on SASs for cyber security fuel the growth of the global situation awareness system (SAS) market. On the other hand, high cost of advanced situational awareness systems (SAS) impedes growth to some extent. Nevertheless, the growing need for space situational awareness systems and increased focus on military modernization are expected to create multiple opportunities shortly.
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A Situation Awareness System (SAS) is a security tool designed to gather, visualize, and analyze data about both local and remote environments, aiding in surveillance and security efforts. It furnishes the necessary utilities for locating, communicating, alerting, and facilitating messaging and file transfers among users through tactical terminal devices. SAS encompasses the capability to recognize, process, and comprehend critical information elements, which can be further analyzed alongside surveillance awareness systems.
By collecting and interpreting data from various sources, SAS fosters awareness of diverse environmental conditions, empowering organizations to make informed decisions and execute timely actions. Deployed in sectors such as traffic control and management, where continuous monitoring of events is crucial, SAS offers numerous advantages including enhanced security, threat detection, risk assessment, and strategic planning support for future endeavors.
Based on component type, the display segment contributed to nearly two-fifths of the global SAS market share in 2018, and is expected to dominate by the end of 2026. Numerous advantages provided by displays such as real-time surveillance, accurate situation awareness, unusual activity detection, and visual representation of the current situation have spurred the growth. The global positioning system, on the other hand, would grow at the fastest CAGR of 10.4% throughout the forecast period. Features like easy detection and exact situation awareness of the system have helped drive the growth of the segment.
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Based on product type, the command & control system segment accounted for nearly one-third of the global situation awareness system (SAS) market revenue in 2018, and is anticipated to maintain the lion's share till 2026. During critical safety and security operations, these systems ensure that the integrity of the mission is protected through complete operational visibility, effective monitoring, and quick response to threats from a single location which, in turn, has driven the growth of the segment. At the same time, the sonar segment would cite the fastest CAGR of 12.0% during the study period. Ongoing technological advancements have played an important role in increasing the adoption of sonar to provide improved marine security for military and navy. This factor has boosted the segment growth.
Based on geography, North America garnered the highest share in 2018, holding more than two-fifths of the global situation awareness system (SAS) market. High demand for space situational awareness activities from prominent organizations like the U.S. Department of Defense and NASA drives the growth. Simultaneously, the Asia-Pacific region would manifest the fastest CAGR of 9.2% from 2019 to 2026. This is attributed to the major shift toward digital transformation which is anticipated to generate high requirements for adoption of SAS systems.
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Frontrunners in the industry-
• Microsoft Corporation
• Rockwell Collins Inc.
• BAE Systems Inc.
• Denso Corporation
• CNL Software Ltd.
• General Electric
• Lockheed Martin Corporation
• Honeywell International Inc.
• Harris Corporation
• D3 Security Management Systems Inc.
Key Benefits For Stakeholders:
• The study provides an in-depth analysis of the situation awareness system market share along with the current trends and future estimations to elucidate the imminent investment pockets.
• Information about key drivers, restraints, and opportunities and their impact analysis on the situation awareness system market size is provided.
• Porter’s five forces analysis illustrates the potency of buyers and suppliers operating in the situation awareness system market.
• The quantitative analysis of the situation awareness system market share from 2020 to 2030 is provided to determine the situation awareness system market potential.
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