ID: MRFR/A&D/2909-HCR | 111 Pages | Published By Swapnil Palwe on March 2023
Military Radio System Market Scenario
Global Military Radio System Market is expected to grow during the forecast period owing to rapid advancements in the handheld radios, and advancements in technologies such as software-defined radios (SDR). Military radios assist during military exercises as they help in communicating confidential information to military personnel. Factors such as increasing military expenditure in developing countries such as China and India and growing military exercises and operations, of several countries are driving the market growth. Furthermore, development of advanced and lightweight military radios such as Harris Corporation is also driving the market growth. For instance, in 2018, Harris Corporation launched a new advanced two-channel handheld radio, The AN/PRC-163 Army Radio. The radio simultaneously delivers voice and data networking to the army personnel. However, issues associated with interoperability and absence of regulatory norms might hamper the growth of the market.
Segmentation of the Global Military Radio System Market
Global Military Radio System Market is segmented on the basis of type, end-user, and region. By type, the market has been segmented into manpack radios and vehicular radios. The vehicular radios segment dominated the market in 2018 and is expected to register a higher CAGR over the assessment period. Vehicle-mounted devices—mobile two-way radios—assist in effective communication and data transfer among the troops stationed in and around a battlefield. Hence, the segment is expected to register a higher CAGR during the forecast period. Based on end-user, the market has been segmented into naval, ground force, and air force. The ground force segment dominated the market in 2018 and is expected to be the fastest-growing segment during the review period. The growth is attributed to an increase in military expenditure across various regions. Furthermore, the need to upgrade military infrastructure is expected to encourage market growth over the assessment period. On the basis of region, the global military radio system market has been segmented into North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America. The market in North America dominated the market in 2018. However, the Asia-Pacific market is expected to exhibit the highest growth during the forecast period. Increasing deployment of 3G, 4G, and LTE networks and the high investments in the defense sector by the governments in India, China, Japan, and South Korea, among other developing countries are factors expected to drive the regional market growth.
The key players in the global military radio system market are BARRETT Communications (Australia), Leonardo SpA (Italy), Harris Corporation (US), Radmor SA (Poland), Thales Communications & Security SAS (France), Codan Limited (Australia), Elbit Systems Ltd (Israel), FLIR Systems (US), Safran SA (France), and Selex ES (Italy).
The market values and forecasts are derived using MRFR research methodology, which includes secondary research, primary interviews, data triangulation, and validation from an in-house data repository and statistical modeling tools.
In this process, data is collected from various secondary sources, including annual reports, SEC filings, journals, government associations, aerospace & defense magazines, white papers, corporate presentations, company websites, and paid databases.
In this process, both the demand- and supply-side parties are interviewed to extract facts and insights into the market forecast, production, trends, and projected market growth. Industry stakeholders such as CEOs, VPs, directors, and marketing executives across the value chain are approached to obtain key information.
MRFR offers report customization to valued customers. Below are the options available for customization:
In-depth profiling of additional market players (3 to 4 companies)
Detailed analysis of a country-level market and related segments as per the report scope (subject to data availability)
Global military radio system market is touted to record a substantial market valuation by 2023.
Global military radio system market is projected to register a moderate CAGR in the forecast period.
The vehicular radio segment is expected to observe substantial demand over the review period.
The ground segment is slated to expand as the fastest-growing segment.
A few eminent market players operating in the global military radio system market are Leonardo SpA (Italy), BARRETT Communications (Australia), Harris Corporation (US), Radmor SA (Poland), among others.