Sep 19, 2019 (Heraldkeepers) -- Global Military Communications Market Research Report: Information by System (Satcom Systems, Radio Systems, Security Systems, and Management Systems), Application (Command & Control, Situational Awareness, Routine Operations, and Others), Platform (Airborne, Ground-Based, and Naval), and Region (North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America)--Forecast till 2025
The global military communications market could register a CAGR of more than 3.2% during the forecast period (2019-2025), reveals Market Research Future (MRFR).
Significant companies competing in the worldwide military communications market includeBAE Systems plc (UK), Collins Aerospace (US), General Dynamics Corporation (US), Airbus SAS (France), Lockheed Martin Corporation (US), Thales Group (France), Harris Corporation (US), Raytheon Company (US), Alcatel (France), Northrop Grumman Corporation (US), to name a few.
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Growth Boosters and Key Restraints
Military communications are a vital aspect of the economic, security, and scientific capabilities of many countries in the world. Governments of various regions are increasing their focus on advanced communications technologies for improved operational efficiency that elevates security as well as digital communication capabilities. Given the increasing use of smart devices and sensors within the defense industry, the military communications market is expected to receive plenty of revenue generation opportunities during the review period.
Substantial military investments are projected to elevate the market position in the coming years. Additionally, demand for military communication systems has picked up speed in recent years, owing to its use in disaster relief centers for delivering fast responses. Expansion of semiconductor industry owing to decreasing chemical and material costs could also lead the military communications market to greater heights during the given timeframe. Government bodies around the world are developing numerous initiatives to aid in the manufacturing of military communication systems and solutions. This is yet another strong point accelerating the growth of the military communications market.
The global defense landscape is significantly influenced by the extended and rapid economic growth in Asia, which gives way to sophisticated military technology. Fast-track advancements in defense infrastructure across various countries in Asia generate massive demand for military-technical capabilities. As a result, the overall military communications market is expected to have a lucrative run from 2019 to 2025, predict data experts.
Providers of military communications systems
Vendors of software applications
Investors and venture capitalists
Vendors of hardware applications
The worldwide military communications market has been categorized with respect to system, application and platform.
Depending on system, the market has been considered for radio systems, satcom systems, management systems and security systems. The satcom systems segment has garnered the largest share of the military communications market and could achieve a high CAGR during the forecast period. Military users are striving to expand their coverage area, which would lead to remarkable capabilities as well as high performance. Citing a reference, Thales entered a contract with Spanish Armed Forces to upgrade their PR4G radios, so that the users are offered improved capability of high priority information dissemination. In another news, BAE systems entered a contract with the US Navy to receive back up for their radio and communications systems design as well as integration for I3 surface combatant ships.
In terms of application, the market caters to situational awareness, routine operations, command & control, and others. The command & control is expected to be the largest segment in the market on account of high use of drones for precision farming. The situational awareness application is presumed to expand at a robust CAGR during the review period.
Platform-based segments covered by the report are ground-based, airborne, and naval. The ground-based segment could cover the largest share of the market, whereas the airborne segment is exhibited to display the highest growth rate in the following years.
The Military Communications Market is spread across the primary regions of Latin America, Europe, Asia Pacific, North America and Middle East & Africa.