Defense Geospatial System Market to Reach $367.40 Billion, Globally, by 2032 at 11.4% CAGR: Allied Market Research
PORTLAND, Ore., Aug. 9, 2023 /PRNewswire/ -- Allied Market Research published a report, titled, "Defense Geospatial System Market by technology (Geographic Information System, Global Positioning System, and Remote Sensing), by type (Surface Analysis, Network Analysis, and Geo Visualization), by application (Military Logistics, Intelligence Gathering, and Battlefield management): Global Opportunity Analysis and Industry Forecast, 2023-2032". According to the report, the global defense geospatial system market was valued at $126.4 billion in 2022, and is projected to reach $367.40 billion by 2032, registering a CAGR of 11.4% from 2023 to 2032.
- The demand from Ukraine helps the technology to market itself in the defense geospatial market.
- The pandemic led to increase demand for defense geospatial system market, as most of the European countries are looking to enhance their geospatial system due to the Russia-Ukraine war.
- Remote sensing plays a vital role in defense geospatial applications since they are used for variety of operations including surveillance and reconnaissance.
- Such developments have been creating opportunities for the private players operating in the defense geospatial system market.