According to a new market research report published by Credence Research “Global Military Communications Market (Communication Type (Airborne Communication, Air-Ground Communication, Underwater Communication, Ground-Based Communication, Ship borne Communication); Component (Military Satcom Systems, Military Radio Systems, Military Security Systems, Communication Management Systems); Application (Command and Control, Routine Operations, Situational Awareness, Others); End User(Land Forces, Naval Forces, Air Forces)) – Growth, Future Prospects and Competitive Analysis,2019 – 2027”,the overall military communications market worldwide was valued US$32.20 Bn in 2018 and is set to grow with a CAGR of 4.0% during the forecast period.
The global military communications market is highly driven by the increasing number of satellites usage by various military and defense agencies to improve their communication on land, water or air. Additionally, the ever-growing requirement for secure and reliable communications in the military sector, digitalization, modernization and replacement of old equipment and devices is an essential step for the sector. In July 2018, Systematic launched IRIS Forms 5.6 which was developed to support complex geometries and simplify information from complexity which allows the militaries to analyze, comprehend, and manage information with ease. Moreover, in May 2018, Raytheon had expanded its presence for its forest-based manufacturing center in East Mississippi (US), which has new radar manufacturing center campus, for integration, testing, and production of S-band radars. These activities allow the companies to strengthen its portfolio of electronic warfare solutions and airborne radar.
Based on end-user, the military communications market has been segmented as land forces, naval forces, and air forces. The land force is accounted to dominate the segment and is expected to dominate during the forecast period, with more than 1/3rd of the market share. The land forces/ armies are very much dependent on the ground-based communication systems for sharing the essential information for updating the position and situation on the battlefield. The military communication is also required to secure the information from the enemy.
Asia-Pacific is expected to be the fastest-growing market due to the presence of growing and developing countries such as India, China, Japan, South Korea, Australia, and others which are highly investing in the market to increase their communication capacity and is expected to grow with a CAGR of 5.8% during the forecast period. Further, the increasing terrorist activities in the region are a major factor which is driving the military communication market in the region.
Some of the prominent players operating in the military communications market include Alcatel, Airbus SAS, BAE Systems plc., General Dynamics Corporation, Collins Aerospace, Harris Corporation, Northrop Grumman Corporation, Lockheed Martin Corporation, Thales Group, and Raytheon Company.
Browse the full report at https://www.credenceresearch.com/report/military-communication-market
The Global Military Communications Market is Segmented into:
|Segmentation||By Component Segment (2017–2027; US$ Bn)|
|By End-User Segment (2017–2027; US$ Bn)|
|By Communication Type Segment (2017–2027; US$ Bn)|
|By Application Segment (2017–2027; US$ Bn)|
|By Geography Segment (2017–2027; US$ Bn)|
*Complete segmentation list is on report page