IFF System Market Forecast Revenue, Region, Country, and Segment & Sizing For 2020

Description

IFF System market is set to grow at a healthy CAGR over the precast years, Global IFF System Market Research Report by Component, Platform and Region | IFF System Industry - News and Updates

IFF System Market is Estimated to Register a CAGR of nearly 8% Near Future :

Market Highlights

The adoption of identification friend or foe (IFF) systems is expected to increase across various military platforms. Moreover, a rise in military aircraft deliveries is projected to encourage IFF System Market growth during the forecast period. IFF systems enable militaries to determine the intent of the aircraft through communication between two devices—an interrogator and a transponder. The interrogator is usually deployed at air traffic control while the transponder is placed on the aircraft, vehicle, or ship.

Various military upgradation programs across the world are expected to drive market growth. Military upgrades include replacement of legacy equipment with the latest technology. Militaries across the world are actively investing in technologies which is expected to drive market growth during the forecast period. Moreover, military modernization programs in the US, the UK, and China are expected to propel market growth during the forecast period.

However, stringent regulations levied by various governments are expected to restrain market growth. Companies operating in the market develop IFF technologies in congruence with the regional regulations which restricts the technologies used in IFF systems. Moreover, the regulations change according to the platform such as airborne, naval, and land on which IFF systems are deployed. Companies manufacturing IFF systems have to consider the regional regulations during development. The products are customized and sold as per customer requirements.

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The global IFF system market has been segmented on the basis of component, platform, and region. On the basis of component, the global IFF system market has been classified as IFF hardware and IFF software. The IFF hardware segment is further categorized as IFF transponder, IFF interrogator, crypto computer, IFF antenna, and IFF test equipment, and others. IFF hardware was the largest segment in 2018. The IFF software segment is expected to register the higher CAGR during the forecast period. Technological advancements in communications technology are expected to encourage the segment growth during the forecast period.

Based on platform, the global IFF system market has been classified as land, airborne, and naval. The airborne segment accounted for the largest revenue share in 2018. The segment is also expected to be the fastest growing during the forecast period. Increasing aircraft deliveries and significant investments in the aviation industry across various regions are expected to encourage the growth of the segment during the forecast period.

By region, the global IFF system market has been divided into North America, Europe, Asia-Pacific, and the rest of the world. The North American market accounted for the largest market share and is expected to register the highest CAGR during the forecast period. Various military advancement programs undertaken by countries such as the US are expected to propel the growth of the regional market during the forecast period.

Key Players

The key players in the IFF System market are Thales Group (France), Tellumat (South Africa), Leonardo SpA (Italy), General Dynamics (US), Raytheon Company (US), BAE Systems (UK), Hensoldt (Germany), Indra Sistemas (Spain), Northrop Grumman Corporation (US), and Micro Systems (US).

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