Military Communications Market to Grow USD USD 20060 Million by 2028 with a CAGR of 7.7% | Valuates Reports
BANGALORE, India, July 19, 2022 /PRNewswire/ -- The Global Military Communications Market is Segmented by Type (Communication Equipment, Communication System), by Application (Army, Navy, Air Force): Opportunity Analysis and Industry Forecast, 2022–2028. It is published in Valuates Reports under the Military Category.
Due to the COVID-19 pandemic, the global Military Communications market size is estimated to be worth USD 11860 Million in 2021 and is forecast to a readjusted size of USD 20060 Million by 2028 with a CAGR of 7.7% during the forecast period 2022-2028.
Major Factors Driving the Growth of the Military Communication Market
The key factors driving the growth of the market include rising security concerns and disputes amongst countries leading to the procurement of military communication solutions.
The growing adoption of wireless communication systems, satellite-based communication, and covid 19 impact will fuel the growth of the market.
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TRENDS INFLUENCING THE GLOBAL MILITARY COMMUNICATION MARKET
Protection of highly confidential information and maintenance of consistent communication is the vital aspects of the defense industry. Defense communication covers everything from monitoring, surveillance, command, the transmission of data, and control. Effective transmission relies on complex hardware and software components to send and receive information to people across geographies. Hence significant military investments are being done to procure advanced communication systems that provide confidential, secure, accurate, and real-time data transmission. These factors will boost the growth of the military communication market during the forecast period.
High frequency and ultra high-frequency wireless communication are replacing traditional wired systems for secure data transmission and network infrastructure. The US military provides its personnel with secure data and voice transmission on the field without the need for network infrastructure. Furthermore, the military is developing an interoperable wireless unified networking system known as Joint All Domain Command and Control( JAC2). The system runs on 5G. It integrates all the sensors from Army, Navy, Airforce, Space, and Marine Corps on a single network. Thus the adoption of such technologies will fuel the growth of the military communication market in the coming years.
The battlefield is getting more network-centric. SATCOM technology provides effective communication channels on air-to-ground, air-to-air, ship-to-ship, and ship-to-shore platforms. Military Satellite solutions are deployed across a range of defense applications including military aircraft, portable terminals, and vessels. Ramies rely on SATCOM technology as it has the ability to traverse long distances and bypass obstructions. These factors will boost the growth of the military communication market in the forthcoming years.
Many government authorities and armed forces were involved in humanitarian and medical assistance operations to tackle the ongoing pandemic. A robust communication network is essential for increasing situational awareness. Activities ranged from setting up field hospitals to providing protective equipment and enforcing lockdowns. They primarily relied on military communication networks. This in turn is expected to fuel the growth of the military communication market during the forecast period.
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MILITARY COMMUNICATION MARKET SHARE ANALYSIS
Based on type, the communication equipment segment is expected to dominate in the military communication market share with 68%.
Based on application, the army segment held the largest market share at 42%.
Based on region, North America is expected to dominate in the military communication market share due to rapid technological advancements. While the APAC will grow with the highest CAGR due to increased border security threats from neighboring countries.
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Key Companies:
- Raytheon
- BAE Systems
- Thales Group
- L3Harris
- R&S
- Rockwell Collins
- Shaanxi Fenghuo Electronics Co.,Ltd.
- Guangzhou Haige Communications Group
- CETC
- Ysinghua Tongfang
- Tianjin 712 Communication & Broadcasting Co.,Ltd
- Nanjing Panda Electronics Company Limited
- Tongyu Communication Inc.
- Wuhan Zhongyuan Electronic Group Co., Ltd.
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