ID: MRFR/A&D/4437-CR | January 2019 | Region: Global | 123 pages
The software-defined radio market forecast predicts good growth opportunities for the market by the end of the global forecast period in 2023. Most of the established companies in major geographical locations of the world are increasing their focus on increasing their quantum of profit by exposing the target audience to an extensive range of IP radio systems that are very advanced. The demand for such radio systems is on an alarming rise across various regions in the globe. The next generation of IP radio systems is likely to provide huge growth opportunities for making use of the advanced SDRs - software-defined radios. Owing to the recent market trends and factors like the considerable increase in adoption of the SDRs, the market is expected to have a good rise.
The telecommunication industry is undergoing various kinds of technological developments in the field of SDRs that are pushing the market to grow in the global forecast period ending in 2023. The vital communication systems are making wide use of the SDRs for better functioning of their critical space missions, along with its wide support in the aerospace sector. All these are likely to have a positive impact on the market that will help it grow at an increasing CAGR of 8.34% during the global forecast period of 2017-2023. The market is expected to reach a global market valuation worth USD 14.5 billion.
COVID 19 Analysis
The COVID 19 pandemic is spreading like a wild forest fire and is having considerable impacts on the economic activities of various industries mushrooming in different kinds of economies all around the world. The SDR system, as well as, subsystem management has been largely affected and disrupted because of the spread of the pandemic. However, the manufacturing of the SDRs to comply with the military application needs is of foremost importance and steps are being taken up to reduce the disruption in the supply chain management for the same. Resuming the manufacturing and production process is largely dependent on the exposure of the pandemic, operational running level of the manufacturing units, ease on restrictions, as well as, the allowance of imports and exports through government regulations.
However, the manufacturing and production units are functioning and taking the orders irrespective of the non-fixation of the schedules for working. As per the industry experts, the defense sector is increasing its focus on sectors that have an important role to play in securing national interests. The supply chain for the market stands moderately impacted. However, steps to cope up with the current situation are being taken up to regulate a moderate market demand by allocating the funds for deliveries prior that the stipulated period.
There is an increased demand for the communication systems in different missions that belong to the defense forces, government authorities, as well as, space agencies. The needs have been changing rapidly in recent years. The development of the SDRs is now able to meet the mobility-related requirements of the different troops that are stationed in difficult, as well as, adverse terrains. These contribute to the growth of the market by the end of the forecast period in 2023.
There are high chances of a security breach during the process of installation or loading a new kind of software in any of the SDR units with the help of an over-the-air update. Also, there is quite a possibility that there is unauthorized, as well as, malicious software that is in the lane for installation on various specific platforms.
The software-defined radio kits produced by the key market players lay their focus on intensifying their quantum of profits by offering the consumers a huge range of IP radio systems that are advanced in nature. Also, their increased level of demand is increasing in various locations across the globe. Also, the sale of products helps in providing an enhanced level of services to the network industry, as well as, reduce the time spent on the transaction costs. Further, these services are enhancing the experience of the end-users of the market.
Owing to the wide-scale performance and establishment of the software-defined radio market manufacturers, the market has been divided into major segments like component, type, region, platform, frequency band, as well as, application.
Based on the platform market segment the market is divided into airborne, space, land, as well as, naval segments. These further include unmanned aerial vehicles, ships, submarines, manpacks, air traffic control stations, handheld, and much more.
Based on the application segment, the market is inclusive of defense and commercial segments.
Terrestrial trunked radio (Tetra), general-purpose radio, joint tactical radio systems (JTRS), as well as, cognitive or intelligent radio are the different parts under the type segment.
The North American market is projected to have the largest market for the SDRs. precisely, the US market is expected to take the market to new growing heights. The US region has emerged as a pioneer for the development of the SDRs since the 1990 decade. These programs are likely to support the working of advanced radios. Many American companies have been awarded a contract by the USA army for the development of the radio systems to be used in the airborne platforms. These contracts are likely to be executed for 5 years or more and are inclusive of the upgrades, as well as, the production. Also, the companies are up for supporting as many as 5000 radios in number.
Apart from this, the software segment functioning in other major geographical locations like the APAC region is expected to attain a high CAGR growth. The reason behind this is an increase in software implementation that will increase the capacity of these systems to establish a better way of communication standards.
The software-defined radio industry is likely to grow at a consistent rate by the end of the future forecast in 2023. The key market players of the market contributing to the growth, as well as, helping to draw a competitive market landscape are as follows:
The spread of the pandemic has harmed the functioning and production of all the industries and production units, the SDR market being one of them. The global software-defined radio market report is a clear indication of the same and further discusses the market dynamics in the forms of opportunities and restraints to which the market is exposed to. The report considers the opinion of the industry players, leaders, and experts to estimate the expected CAGR growth of the market, along with its estimated market valuation. The market report represents the functioning of the market segments in various domestic, as well as, international regions across the globe. Also, the report considers the performance of the key market players in these major regions, as well as, simultaneously understanding their sales working and revenue models. The market report further draws a competitive landscape based on the performance of these key market players in the regions including their recent developments.
Frequently Asked Questions (FAQ) :
Global software defined radio market is projected to register a moderate 8.34% CAGR in the forecast period.
The massive demand for software defined radio due to advancements in technology and the development of digital electronics is the primary growth inducer of the market.
The transmitter segment is expected to observe substantial demand over the review period.
The airborne segment is expected to secure the highest CAGR.
The defense segment is slated to expand as the fastest-growing segment.
The North American region is slated to expand as the fastest-growing segment.
A few emminent market players operating in the global software defined radio market are BAE Systems (UK), Elbit Systems (US), Harris Corporation (US), General Dynamics (US), among others.