April 2023, Research Report on “Global Military Communications Market Research Report - Forecast to 2023” – Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2023.
Global Military Communications Market – Overview
Military Communications Market Size is USD 123.29 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 11.00% during the forecast period (2023 - 2032).
According to a recent study report published by Market Research Future, the global market for military communications market will grow at a rapid pace over the forecast period. The market is expected to witness slow but steady growth until 2023, which will be a growing fast at a moderate CAGR during the forecast period (2023 -2030).
The high demand for military communications market is due to the growing need for security and confidential of accurate and real-time data in the military communication, thus increasing the participation of manufacturers. Rapid adoption of emerging technologies such as Ka-band and artificial intelligence is expected to add to the growth of the market. However, multiple standard devices and difficult to achieve interoperability among so many different systems and technologies act as a barrier to the growth of military communications market.
A military communications involve all aspects of communication of data used by armed forces for efficient functioning, military command, and secure and robust system. The rise in popularity of security of data in military industry is expected to drive the market during the forecast period. Hence, the military communications system must integrate with emerging technologies to improve the delivery of the right information to the right location and at the right time. Military aircraft operators are investing in the military communications system at a rapid rate in order to improve the functioning of the system.
Moreover, factors responsible for the growth of military communications market are replacement of aging technology with advanced equipment, enhanced security services, growing investment by the government, introduction of digital communications, and usage of software-defined radio. This is the primary factor that drives the growth of the global military communications market and has gained prevalence in the recent times, with the usage of best in class technologies in the military sectors. Thus, the growth of the military communications market is expected to go hand in hand with the growth of investment in the defense sector.
Industry/ Innovation/ Related News:
April, 2018 – Thales signed a contract with Spanish Armed Forces to modernise the PR4G radios to provides the users with enhanced capability for high priority information dissemination.
December, 2017 – Harris Corporation signed contract with U.S. Army to provide reliable and combat-proven communications systems to support security force assistance brigades.
February, 2015 – BAE systems signed a contract with U.S. Navy to support radio and communications systems design and integration for I3 surface combatant ships.
Global Military Communications Market – Segmentation
The global Military Communications market is segmented into 4 key dynamics for the convenience of the report and enhanced understanding;
Segmentation by Device Type : Comprises Military SATCOM, Radio System and Smartphones
Segmentation by Application : Comprises Command & Control, and Situational Awareness
Segmentation by Platform : Comprises Airborne, Ground Based and Naval
Segmentation by Regions : Comprises Geographical regions - North America, Europe, Asia-Pacific, Middle East & Africa and South America.
Global Military Communications Market:
North American region is dominating the market of the global military communications market due to rapid deployment of armed equipment’s in warfare regions such as Iraq, Afghanistan and Seria.
Asia Pacific is referred to as the second-largest military communications market due to factors such as growing concerns for border security have fuelled the demand for global military communications market.
Northrop Grumman Corporation (U.S.), Lockheed Martin Corporation (U.S.), BAE Systems (U.K.), Thales (France), Alcatel (France), Raytheon (U.S.), Rockwell Collins (U.S.), General Dynamics (U.S.), Harris Corporation (U.S.), and Airbus Group (France) are some of the prominent players profiled in MRFR Analysis and are at the forefront of competition in the global military communications market.