Military Sensors Global Market Report 2024

The military sensors market has grown strongly in recent years. It will grow from $10.23 billion in 2023 to $10.96 billion in 2024 at a compound annual growth rate (CAGR) of 7.2%. The expansion observed in the historical period can be attributed to regulatory changes and standards, the adoption of unmanned platforms, industrial partnerships and collaborations, a focus on situational awareness, and government initiatives and contracts.

The military sensors market is expected to see strong growth in the next few years. It will grow to $14.04 billion in 2028 at a compound annual growth rate (CAGR) of 6.4%. The anticipated growth in the forecast period can be attributed to the trends of miniaturization and low-power designs, global geopolitical instabilities, the expansion of unmanned systems, the integration of artificial intelligence (AI) and machine learning, and a growing demand for Intelligence, Surveillance, and Reconnaissance (ISR) capabilities. Major trends expected in the forecast period include an increased focus on cybersecurity, the development of multi-functional sensors, advancements in miniaturization and lightweight designs, an emphasis on hyperspectral and multi-spectral sensors, and a push towards interoperability and sensor networking.

The military sensors market is experiencing significant growth, primarily propelled by the rise in defense spending by emerging economies. Military spending, encompassing various aspects such as operation, maintenance, procurement of weaponry, and research and development, serves as a crucial factor driving demand for military sensors. The Stockholm International Peace Research Institute (SIPRI) reported a 0.7% increase in global military spending from $1,981 billion in 2020 to $2,113 billion in 2021. Notably, China augmented its military spending by 4.7% in 2021, reaching an estimated $293 billion. This surge in defense spending by emerging economies is a key driver for the ongoing and future growth of the military sensors market.

The escalating threat of terrorist activities significantly contributes to the expansion of the military sensor market. The global increase in terrorist threats poses heightened risks and vulnerabilities to security. Military sensors play a pivotal role in detecting suspicious activities, unauthorized movements, and potential threats in sensitive areas. The Global Terrorism Index 2022 reported a 17% surge in terrorist attacks, totaling 5,226 incidents in 2021. Countries such as Afghanistan, Somalia, and Iraq remained severely impacted by terrorism, with a 14% rise in fatalities, reaching a total of 1,426 deaths. Consequently, the intensifying terrorist threats are anticipated to drive the growth of the military sensor market.

Technological advancements emerge as a prominent trend in the military sensors market, with major companies focusing on the development of cutting-edge sensor technologies. One example is Armaments Research Company Inc., which introduced a predictive maintenance platform for crew-served weapons for the U.S. Marine Corps. Engaging in the 'Joint All-Domain Command and Control' (JADC2) project, this initiative aims to unify sensors from various military services into an integrated network. Technological innovation is a strategic focus for companies seeking to enhance their market positions in the military sensors segment.

Major companies in the military sensors market are dedicated to developing advanced products, including sensor solutions that improve precision, extend detection ranges, and enhance situational awareness for effective threat identification and response in military operations. L3Harris Technologies Inc., for instance, introduced an advanced infrared sensor to enhance the Javelin Weapon System's Command Launch Unit. This infrared technology, developed under the Vital Infrared Sensor Technology Acceleration program, reduces target engagement time, thereby enhancing the efficiency of military operations.

In March 2022, Standex International Corporation acquired Sensor Solutions for $9.7 million. This strategic acquisition expanded Standex International Corporation's technical expertise and customer solutions in growing sectors, including military speed and position magnetic sensors for applications such as electric vehicles, industrial automation, and medical markets.

Major companies operating in the military sensors market report are BAE Systems PLC, Curtiss-Wright Corporation, Esterline Technologies Corporation, Honeywell International Inc., Kongsberg Gruppen, Lockheed Martin Corporation, Raytheon Technologies Corporation, TE Connectivity Ltd., Thales Group, Ultra Electronics Group, General Electric Company, Imperx Inc., Microflown AVISA BV, Vectornav Technologies LLC, Rock West Solutions Inc., KONGSBERG GRUPPEN ASA, Ultra Electronics, Aerosonic LLC, Viooa Imaging Technology Inc., Northrop Grumman Corporation, L3Harris Technologies Inc., Safran Electronics & Defense, Leonardo S.p.A., Rheinmetall AG, Elbit Systems Ltd., FLIR Systems Inc., Collins Aerospace, Cobham plc, Moog Inc., Meggitt PLC, QinetiQ Group plc, Terma A/S, ASELSAN A.Ş., RADA Electronic Industries Ltd., Israel Aerospace Industries Ltd., Rafael Advanced Defense Systems Ltd., Bharat Electronics Limited, Hindustan Aeronautics Limited.

North America was the largest region in the military sensors market in 2023. The regions covered in the military sensors market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the military sensors market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The main types of military sensor components include software and hardware. Software sensors generate signals through software applications. These sensors are deployed across different platforms, including airborne, land-based, and naval applications. They find applications in intelligence, surveillance, and reconnaissance (ISR), communication and navigation, target recognition, electronic warfare, command and control, and other military operations.

The military sensors market research report provides military sensors market statistics, including military sensors industry global market size, regional shares, competitors with a military sensors market share, detailed military sensors market segments, market trends and opportunities, and any further data you may need to thrive in the military sensors industry. The military sensors market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The military sensors market consists of revenues earned by entities by providing services such as night-vision surveillance, detecting hidden bombs, monitoring engine speed, and cam and crankshaft speed. The market value includes the value of related goods sold by the service provider or included within the service offering. The military sensors market also includes sales of imaging sensors, seismic sensors, acoustic sensors, magnetic sensors, pressure sensors, GPS sensors and proximity sensors. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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