PUNE, India, November 14, 2016 /PRNewswire/ --
The report "Software Defined Radio Market by Application (Defense, Commercial, Homeland Security), Component (Software, Transmitter, Receiver), End User (Military, Transportation), Type (JTRS, Cognitive/Intelligent Radio, TETRA) - Global Forecast to 2021", published by MarketsandMarkets, the global market is estimated to be USD 16.24 Billion in 2016, and is projected to reach USD 29.12 Billion by 2021, at a CAGR of 12.39% from 2016 to 2021.
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Browse 97 market data Tables and 61 Figures spread through 180 Pages and in-depth TOC on "Software Defined Radio Market"
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The JTRS segment is projected to lead the software defined radio market during the forecast period
On the basis of type, the JTRS (joint tactical radio system) segment is estimated to lead the highest growth, owing to the increasing use of tactical military communication in the defense sector. JTRS is the solution for interoperability is an all service radio and a new wideband networked waveform with the ability to provide mobile networked-connectivity across the battlespace, while providing compatibility with the current waveforms used in the defense forces, worldwide.
The commercial segment is estimated to grow at the highest CAGR during the forecast period
The commercial segment of the software defined radio market, by application, is anticipated to grow at the highest CAGR during the forecast period, due to robust growth in the telecommunication industry. With increase in investments towards SDR, the commercial sector is using new technologies such as near field communication, analog to digital conversion, and cognitive radios for communication.
G7 Nations is estimated to be the largest market for software defined radio
The market for software defined radio has been estimated to be the largest in G7 Nations, due to the increasing demand for SDR across various sectors, such as military, public safety, and commercial. The growth of this market is expected to be fuelled by the rise in military spending by the U.S. countries as they seek to modernize and upgrade their communication equipment. Factors such as rising need for countries to collaborate with other nations through upgraded communication systems, as their troops are deployed in various regions under NATO and other alliances
Northrop Grumman Corporation (U.S.) is one of the key players in the software defined radio market
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Major players in the software defined radio market are Northrop Grumman Corporation (U.S.), BAE Systems Plc. (U.K.), Elbit Systems Ltd (Israel), Thales Group (France), and L-3 Communications Holdings, Inc. (U.S.), among others.
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