=Military Communication Market List of Key Players in Global Forecast by 2026, Fortune Business Insights™
The global
military communication market is set to gain traction from the increasing
adoption of satellite communication (SATCOM) technology. This technology aids
in achieving ship-to-shore, ship-to-ship, air-to-ground, and air-to-air
communications. It also provides tactical communication that can be easily
integrated on aircraft, naval vessels, and vehicles. This information is
published by Fortune Business Insights™
in a recent report, titled, “Military Communication
Market Size, Share and Industry Analysis by Component (Hardware and Software),
By Technology (SATCOM, VHF/UHF/L-Band, HF Communication, and Data Link), By
Platform (Airborne, Ground, Naval, and Space), By Application (Command and
Control, Intelligence, Surveillance, and Reconnaissance (ISR), Situational
Awareness, Routine Operations, and Others), and Regional Forecast, 2019-2026.”
The report further mentions that the
military communication market size was USD
39.86 billion in 2018 and is projected to reach USD 62.96 billion by 2026, thereby exhibiting a CAGR of 6.18%
during the forecast period.
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This Report Answers the Following Questions:
·
What are the military communication
market trends, growth drivers, and hindrances?
·
How many segments does the market have?
·
Which region is expected to lead by
gaining the maximum revenue?
·
Which company would generate the
largest share in the coming years?
·
What are the opportunities and
challenges that the market may come across in the near future?
Drivers & Restraints-
Rising Investment in Military Worldwide to Accelerate Growth
In the
defense sector, maintenance of consistent communication and protection of highly
confidential information are two of the major requirements. Inaccurate transfer
of real time data and leakage of crucial data may result in disputes and pose a
risk to the safety of the masses worldwide. Defense communication is often
dependent on a vast and complex network of software and hardware components for
conveying the messages across the globe. In addition to that, it consists of all
the aspects related to the transmission of informationby military forces for well-organized
control, command, military surveillance, and functioning. The investment in
military is likely to upsurge in the coming years because of the rising
disputes among various countries. However, such communication is mission-critical
in nature. Hence, it may hinder the military communication market growth during
the forecast period.
Browse Summary of This Research:
https://www.fortunebusinessinsights.com/military-communications-market-102696
Segment-
Software Segment to Grow Rapidly Backed by Increasing Usage of SDR
System
In terms
of component, the market is bifurcated into software and hardware. The software
segment held 26.5%defense communication market share in 2018 and is expected to
grow at a fast pace throughout the forecast period. This growth is attributable
to the higher usage of software defined radio
(SDR) system in military forces. SDR offers improved functionsto the end user. It
is also capable of transmitting data, voice, and video across dissimilar
systems. Besides, it can integrate cross banding and can perform multi modes
operations by utilizing multiple frequency bands.
Regional Analysis-
Rising Commercial Aircraft Deliveries to Favor Growth in Asia
Pacific
Based on
region, the market is segregated into North America, Asia Pacific, Europe, and
the rest of the world.Out of these, North America procured USD 15.35 billion military
communication market revenue in 2018. It occurred because of the existence of
numerous prominent communication equipment and system manufacturers in this
region. Europe is anticipated to grow considerably fueled by the presence of
several naval and airborne communication solution manufacturers, namely, Cobham
Plc.andThales Group.
Asia
Pacific, on the other hand, is projected to showcase robust growth in the
coming years backed by the rising deliveries of commercial aircraft in the
developing nations, such as China and India. Apart from that, these countries
are experiencing a surge in the military spending to remoldtheir military
systems for strengthening the defense sector.
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Competitive Landscape-
Key CompaniesFocus on Mergers & New Contracts to Gain Competitive
Edge
The market
consists of a large number of companies that persistently striving to achievemoreshare.
They are therefore, aiming to gain new contracts from the Army and Navy and are
adopting the strategy of mergers and acquisitions. Below are a couple of the
latest key industry developments:
·
June
2019: Harris Corporation and L3 Technologies declared that they are
merging to form a new company called L3Harris Technologies. The new company
would is set to become the tenth largest defense company worldwide. It is set
to house around 48,000 employees.
·
February
2016: Harris Corporation, Rockwell Collins, and General Dynamicswere
awarded a new contract from the Army to develop Manpack radios. These will be carried
in rucksacks or mounted on vehicles.
Fortune
Business Insights™ lists out all the organizations present in the military communication
solution market. They are as follows:
•
ASELSAN A.S.
•
Cobham PLC
•
Collins Aerospace
•
General Dynamics Corporation
•
Honeywell International Inc.
•
Iridium Communications Inc.
•
L3Harris Technologies, Inc.
•
Lockheed Martin Corporation
•
Northrop Grumman Corporation
•
Raytheon Company
•
Rohde & Schwarz
•
Thales Group
•
Viasat Inc.
Fortune
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