Military communications market to reach USD 54.11 billion by
Pune, April 07, 2022 (GLOBE NEWSWIRE) — The world Military Communications Market The size is expected to reach USD 54.11 billion by 2029 and grow at a CAGR of 6.37% during the forecast period. The increasing adoption of wireless communication technology for various military applications is expected to drive the market growth. Fortune Business InsightsMT presented this information in its report entitled, “Military Communications Market, 2022-2029”. The market size stood at USD 33.10 billion in 2021 and USD 35.12 billion in 2022.
Moreover, increasing adoption of satellite communication technology or SATCOM technology is expected to be a key trend driving the growth of the market.
List of Major Market Players-
- ASELSAN AS (Turkey)
- Cobham PLC (UK)
- General Dynamics Corporation (USA)
- Honeywell International Inc. (USA)
- Iridium Communications Inc. (USA)
- L3Harris Technologies Inc. (USA)
- Lockheed Martin Corporation (USA)
- Northrop Grumman Corporation (USA)
- Raytheon Technologies Inc. (USA)
- Rohde & Schwarz (Germany)
- Thales Group (France)
- Viasat Inc. (USA)
- BAE Systems PLC (UK)
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Impact of COVID-19-
High demand for military communication systems globally will have a positive impact on the market growth
The coronavirus pandemic may have negatively affected the defense industry, but the military communication market has witnessed exemplary growth in 2020. The increased demand for communication means for better situational awareness to curb the pandemic helped the market feel limited impact from the pandemic. The rapid growth of cross-border conflicts and terrorism amid the pandemic has resulted in increased demand for military communications. Hence, the market is expected to witness high growth in the coming years.
On the basis of components, the market is divided into software and hardware. On the basis of technology, the market is segmented into data link, HF communication, VHF/UHF/L-Band and SATCOM. Based on platform, the market is fragmented into space, naval, land and airborne. Based on application, the market is divided into Intelligence, Surveillance and Reconnaissance (ISR), Command and Control, Situational Awareness, Routine Operations and Others. Geographically, the market is categorized into Europe, North America, Asia-Pacific, and Rest of the World.
- It offers a holistic assessment of the market which includes information on different market segments such as technology, components, platform application and others.
- It includes a detailed analysis of the impact of the COVID-19 pandemic on the market.
- It sheds light on various strategies adopted by leading market players to acquire growth.
- It presents the latest developments in the industry.
- It highlights the market growth assessed according to different geographical regions, North America, Europe, Asia Pacific and Rest of the World.
Browse Detailed Abstract of Research Report with TOC:
Drivers and Constraints-
Growing adoption of wireless communication technology for several military applications to propel market growth
Maintaining consistent communication and protecting highly confidential data are the highest demands in the defense industry. This is necessary to ensure public safety, otherwise the safety of citizens could be at risk. Moreover, investments in the defense sector are increasing due to the increase in cross-border conflicts and terrorism. These factors are likely to drive the adoption of advanced systems to improve security and safety and support the growth of the military communications market.
The increasing adoption of scalable communication technologies such as UHF, VHF and SATCOM to replace conventional wired systems is expected to benefit the growth of the market. Additionally, the growing demand for improved communication systems, aerial surveillance vehicles, and advanced battlespace management systems is likely to increase product adoption.
However, high initial development costs may hamper market growth.
Presence of key players to foster growth in North America
North America is expected to gain the largest military communications market share. The presence of pioneering manufacturers of communication equipment and systems such as Honeywell International Inc., Raytheon Company, Collins Aerospace, Northrop Grumman Corporation and others is likely to be a key driver for the region’s market growth.
Europe is expected to rank second in the global market. Rising defense spending in Germany, France, and the UK, coupled with the presence of key naval and airborne communication solution providers, such as Cobham PLC and Thales Group, is expected to fuel the market growth in the region. .
Asia-Pacific is expected to record robust growth in the coming years. Rising commercial aircraft deliveries in developing countries such as China and India and increasing adoption of network-centric warfare are expected to drive the market growth in Asia Pacific.
The rest of the world is estimated to show considerable growth due to increased defense budgets in Israel, Saudi Arabia, Brazil and other countries.
Find out before you buy the report:
- Search scope
- Market segmentation
- Research Methodology
- Definitions and assumptions
- Market dynamics
- Market factors
- Market constraints
- Market opportunities
- key ideas
- Key Industry Developments – Mergers, Acquisitions and Partnerships
- Latest technological advances
- Analysis of the five forces of carriers
- Supply chain analysis
- Quantitative Insights – Impact of COVID-19 Pandemic on Military Communications Market
- Impact of COVID-19 on the Global Military Communications Market
- Measures taken by industry/business/government to overcome the impact
- Potential opportunities due to the COVID-19 outbreak
Key players are adopting various inorganic and organic strategies to capture growth
The market is highly competitive with the presence of prominent players such as Raytheon Technologies Inc., Northrop Grumman Corporation, L3Harris Technologies Inc. and others. Major market players are adopting inorganic and organic growth strategies including technological advancements, contracts, partnerships, acquisitions, and others to amplify their revenue. For example, the Thales Group launched the new Javelin Combat Net radio in January 2021 to facilitate tactical command and control (C2) communications in military formations.
February 2021: The French Directorate General of Armaments has chosen the Thales group to advance the upcoming phase of the ground segment of the Syracuse IV SATCOM system for the French armed forces.
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