According
to the new market research report "Military Communications Market
by Communication Type (Airborne, Air-Ground, Underwater,
Ground-Based), Component (Military Satcom Systems, Military Radio Systems,
Military Security Systems), Application, End User, and Region - Global Forecast
to 2023", the military communications market is expected
to grow from USD 31.50 billion in 2018 to USD 37.67 billion by 2023, at a
compound annual growth rate (CAGR) of 3.6% from 2018 to 2023.
The
market is primarily driven by the increasing procurement of military communication
solutions due to growing disputes among countries across the world and the need
to modernize and replace aging communication equipment.
Browse and
in-depth TOC on "Military
Communications Market"
55
- Tables
51
- Figures
159
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Based on component, the military radio systems segment of the
military communications market is expected
to witness the highest growth during the forecast period.
Based on
component, the military radio systems segment is expected to witness the
highest growth during the forecast period. The high growth of the military
radio systems segment can be attributed to the growing deployment of
software-defined radios for military radio equipment.
Based on application, the situational awareness segment of the
military communications market is expected
to grow at the highest CAGR during the forecast period.
Based on
application, the situational awareness segment of the military communications
market is estimated to witness the highest growth during the forecast period.
Government agencies benefit from situational awareness solutions as they help
armed forces make effective use of critical information on a battlefield.
North America is expected to lead the military communications
market in 2018.
North
America is estimated to lead the military communications market in 2018. The
growth of the military communications market can be attributed to the extensive
adoption of military communication solutions in the region, particularly in the
US, as the country has been the largest spender in 2017 and an early adopter of
advanced military communications systems for naval, land, and air forces. The
presence of key companies, such as General Dynamics, Harris Corporation,
Iridium, L3 Technologies, Lockheed Martin, Northrop Grumman, Raytheon, Rockwell
Collins, Viasat, and Kratos Defense & Security Solutions in the region is
one of the key factors for the growth of the military communications market.
Some of the
major military communication solutions vendors include Aselsan (Turkey), BAE
Systems (UK), Cobham (UK), Elbit Systems (Israel), General Dynamics (US),
Harris Corporation (US), Inmarsat (UK), Iridium Communications (US), Israel
Aerospace Industries (Israel), Kongsberg (Norway), L3 Technologies (US),
Leonardo (Italy), Lockheed Martin (US), Northrop Grumman (US), Raytheon (US),
Rheinmetall (Germany), Rockwell Collins (US), Rolta India (India), Saab
(Sweden), Systematic (Denmark), Thales (France), Viasat (US), EID (Portugal),
Kratos Defense & Security Solutions (US), and Rohde & Schwarz
(Germany).
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Research Insight: https://www.marketsandmarkets.com/ResearchInsight/military-communications-market.asp
Research Insight: https://www.marketsandmarkets.com/ResearchInsight/military-communications-market.asp
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