(MENAFN- America News Hour)
The major vendors in the global military communications market are ASELSAN (Turkey), BAE Systems (UK), Lockheed Martin (US), Northrop Grumman (US), Raytheon (US), Cobham (UK), Elbit Systems (Israel), General Dynamics (US), and Harris Corporation (US).
The global Military Communications market size to grow from USD 33.4 billion in 2022
to USD 40.6 billion by 2031, at a Compound Annual Growth Rate (CAGR) of 4.0% during the forecast period. The key factors driving the growth of the
military communications market
include the rising security concerns and the procurement of military communication solutions due to an increase in disputes among different countries across the world.
The airborne communication segment to hold a larger market size during the forecast period
The communication type segment comprises airborne, air-ground, underwater, ground-based, and shipborne communications. The airborne communication segment is expected to hold a larger market share during the forecast period. The key trend contributing to this market growth is the increased focus and investment to enhance the capabilities of air forces. Several countries, such as the US, the UK, Russia, Israel, India, Japan, Singapore, and China, have increased their spending to strengthen their air forces, which is expected to enhance the expenditure on airborne communications. The underwater communications segment is projected to grow at the highest CAGR during the forecast period.
The military SATCOM systems segment to hold the largest market size during the forecast period
The military communications market by component has been segmented into military SATCOM systems, military radio system, military security system, and communication management system. Among components, the military SATCOM systems segment is expected to hold the largest share of the military communications market. Most of the technologically advanced countries rely on SATCOM communications due to broader coverage, easy installation, security, and location independence. With the advent of SDR, the military radio systems segment is projected to grow at a decent pace. Security concerns are expected to boost the adoption of military security systems, thus driving the growth of the military security systems segment.
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The command and control segment to hold the largest market size during the forecast period
The military communications market by applications has been segmented into command and control, routine operations, situational awareness, and others. The command and control segment is estimated to account for the largest share of the military communications market due to the need for integrated and interoperable capabilities to establish proper control over military operations.
The air forces segment to hold the largest market size during the forecast period
The military communications market by end-users has been segmented into land forces, naval forces, and air forces. Among end-users, the air forces segment is projected to grow at the fastest rate, whereas the land forces segment is expected to be the major contributor to the market.
North America to hold the largest market size during the forecast period
The military communications market has been segmented into five regions: North America, Europe, APAC, MEA, and Latin America. North America is projected to hold the largest market size during the forecast period due to the increasing technological advancements in the region. APAC is expected to witness the highest growth rate during the forecast period. It is also expected to be the fastest-growing region in the military communications market.
Breakdown of primaries
In-depth interviews were conducted with Chief Executive Officers (CEOs), innovation and technology directors, system integrators, and executives from various key organizations operating in military communications market.
By Company: Tier I: 19%, Tier II: 35%, and Tier III: 46% By Designation: C-Level Executives: 33%, Directors: 26%, and Others: 41% By Region: North America: 38%, APAC: 11%, Europe: 35%, RoW: 16%
The report includes the study of key players offering military communications products. It profiles major vendors in the global military communications market. The major vendors in the global military communications market are ASELSAN (Turkey), BAE Systems (UK), Lockheed Martin (US), Northrop Grumman (US), Raytheon (US), Cobham (UK), Elbit Systems (Israel), General Dynamics (US), Harris Corporation (US), Thales (France), Viasat (US), Inmarsat (UK), Iridium (US), Systematic (Denmark), Leonardo (Italy), Israel Aerospace Industries (Israel), Rheinmetall (Germany), Rolta (India), Rufus Lab (US), Vantage Robotics (US), CRON Systems (UK), Fortem Technologies (US), Airspace Systems (US), Citadel Defense (US).
The market study covers the military communications market across segments. It aims at estimating the market size and the growth potential of this market across different segments, such as components, business function, application, organization size, end user, and regions. It includes an in-depth competitive analysis of the key players in the market, along with their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.
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Key Benefits of Buying the Report
The report would provide the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall military communications market and its subsegments. It would help stakeholders understand the competitive landscape and gain more insights to better position their business and plan suitable go-to-market strategies. It also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.
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