Military Radio Spending to Exceed $9 Billion, says Strategy Analytics
- Radio Shipments Growing at a CAGR 3.5%
BOSTON, April 30, 2015 /PRNewswire/ -- Moves towards bringing advanced capabilities will mean there will be continued spending on military radios. The Strategy Analytics Advanced Defense Systems (ADS) service series of military radio forecasts, outline global defense expenditure trends segmented on a regional basis before breaking out the expected spend on military radios incorporating systems, hardware, support and related services across the land, air and naval domains.
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- We expect the Asia-Pacific region will drive spending on tactical radios particularly for land-based communications and account for the largest end market over the entire forecast period.
- Land-based radios will represent the largest market in terms of both dollar and total shipments.
- The total number of radio shipments is forecast to grow at a CAGR of 3.5% through 2024 to reach 172,867 units.
Strategy Analytics Global Military Radio Market and Technology Forecast: 2014 - 2024 outlines analysis looking at the total military radio sector providing segmentation detail related to form factors, platforms, frequency, power and associated enabling component demand. The associated Land Military Radio Market and Technology Forecast: 2014 - 2024, Airborne Military Radio Market and Technology Forecast: 2014 - 2024 and Shipborne Military Radio Market and Technology Forecast: 2014 - 2024 data models provider a deeper dive into system shipments segmented across the different domains.
"While traditional HF, VHF and UHF radio frequencies will maintain use, there will be an increasing emphasis towards systems that can support multi-band and/or wideband operation," notes Eric Higham, North American Director for ADS. "The market for these radio systems will account for 47% of the total global military radio market in 2024."
"Handheld radios will drive the volume in the land-based military radio market, which will grow to $6.5 billion. Smaller platforms such as fast attack craft and offshore patrol vehicles, and the helicopter and light aircraft segment, will drive volumes in the shipborne and airborne segments," observed Asif Anwar, Director at Strategy Analytics. "The associated market for radio component technologies will grow from $710 million to almost $1.1 billion with GaN (gallium nitride) becoming an established technology as it grows at a CAGR of 32.7%."
About Strategy Analytics
Strategy Analytics, Inc. provides the competitive edge with advisory services, consulting and actionable market intelligence for emerging technology, mobile and wireless, digital consumer and automotive electronics companies. With offices in North America, Europe and Asia, Strategy Analytics delivers insights for enterprise success. www.StrategyAnalytics.com
European Contact: Asif Anwar, +44(0) 1908 423 635, [email protected]
US Contact: Eric Higham, +1 617 614 0721, [email protected]
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