(MENAFN- The Express Wire) Tactical Data Link Market Size: Global Industry Trends, Growth, Share, Size and 2026 Forecast Research Report
Posted on Nov 17 2020 6:52 AM
"Top Key Players Examined By Fortune Business Insights™ are BAE Systems (The U.K.), Curtiss-Wright Corporation (The U.S.), Elbit Systems Ltd. (Israel), General Dynamics Corporation (The U.S.), Honeywell International, Inc. (The U.S.) and other players profiled in Tactical Data Link Market research report"
The outburst of the Coronavirus (COVID-19), which started in Wuhan, China at the end of December 2019, is spreading fast across the globe and it is having a most important impact on all aspects of civilization. At the start, vehicle manufacturers and their providers have been scrambling to keep vehicle assembly lines active but March has seen the production take action, in sync with administration advisories, to keep its workers safe. The World Health Organization declared the COVID-19 outbreak and a pandemic. Automobile, construction, and tourism industries are being shut down around the world, customer footfalls in showrooms have fallen harshly. Tourism revenue has dropped considerably and almost every major industry conference is either being canceled or held virtually. The entire March has been packed with COVID-19 outbreak a pandemic. The impact of COVID-19 and the lockdown has vigorously impacted the financial market as well. These factors are estimated to hamper the growth of the market.
The global tactical data link market size is projected to reach USD 9.88 billion by the end of 2027. The increasing investment in technological intervention will emerge in favor of market growth. According to a report published by Fortune Business Insights, titled 'Tactical Data Link Market Size, Share and Industry Analysis by Solution (Hardware, and Software), By Platform (Air, Ground, and Sea), By Application (Command & Control, Intelligence, Surveillance & Reconnaissance (ISR), Electronic Warfare, Radio Communication, and Situational Awareness), and Regional Forecast, 2020 - 2027, the market was worth USD 6.14 billion in 2019 and will exhibit a CAGR of 9.54% during the forecast period, 2020-2027.
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Tactical data link solutions are a communication standard that is widely used across the defense and military sector for the transfer of critical information. Recent technological advances have led to a wider application scope. The ability of tactical data link solutions to operate in real-time will contribute to the growing adoption of the product across the world. The increasing terrorist activities have led to an emphasis on the development of efficient TDL solutions.
The increasing emphasis on the R & D of TDL solutions will open up a huge potential for the companies operating in the market. The high investment in the product R & D will create several opportunities for the growth of the tactical data link market in the forthcoming years. Increasing international disputes among neighbouring countries across the world will lead to an increased demand for the product across the world.
Increasing Number of Company Mergers will Aid Growth
The report encompasses several factors that have contributed to the growth of the overall market in recent years. Among all factors, the increasing number of company mergers and acquisitions has made the highest impact on market growth. In February 2017, the US Navy announced that it has signed a contract with Leonardo Company DRS Technologies Inc. The company announced that the company will deliver new tactical data link for the next ten years. The contract is said to be worth USD 22 million.
US Navy's latest contract with Leonardo Company DRS will not just help Leonardo generate a massive revenue in the coming years, but will also have a direct impact on the growth of the overall market in the coming years. The report highlights a few of the other company mergers and collaborations of recent times and gauges their impact on the growth of the overall tactical data link market in the foreseeable future.
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List of companies profiled in the report:
- BAE Systems (The U.K.)
- Curtiss-Wright Corporation (The U.S.)
- Elbit Systems Ltd. (Israel)
- General Dynamics Corporation (The U.S.)
- Honeywell International, Inc. (The U.S.)
- L3Harris Technologies, Inc. (The U.S.)
- Leonardo SpA (Italy)
- Northrop Grumman Corporation (The U.S.)
- Raytheon Technologies Corporation (The U.S.)
- Saab AB (Sweden)
- Thales Group (France)
- Viasat, Inc. (The U.S.)
Industry Developments:
May 2017 Leonardo DRS, a subsidiary of Leonardo SpA announced that it has received several orders for Link-11 and Link-12 communication systems and associated equipment.
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