Military Communications Market Growing at CAGR of 3.6% | Key Players Harris, Inmarsat, Iridium, Kongsberg, Leonardo
The Military Communications Market is projected to grow from USD 31.50 billion in 2018 to USD 37.67 billion by 2023, at a CAGR of 3.6% from 2018 to 2023. The major factors driving the demand for military communication solutions across the globe include the increasing procurement of military communication solutions due to growing disputes among countries across the world and the need to modernize and replace aging communication equipment.
The scope of this report covers the analysis of the military communications market based on communication type, component, application, end user, and region. Rapid adoption of advanced Ka-band satellites for communication services as well as increasing use of Mobile Ad-Hoc Networks (MANETS) are the factors offering growth opportunities to the military communications market. MANETS are being deployed on a large scale due to the increasing use of UAS for both surveillance and military war operations that generate a massive amount of data, which needs to be transferred between command centers and tactical communication networks.
Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=66198542
Based on communication type, the airborne communication segment of the military communications market is estimated to grow at the highest CAGR during the forecast period. Technological advancement is the major factor driving the growth of the airborne communication segment. Countries, such as the US, China, France, and India, are increasingly spending on the deployment of command and control systems on the airborne platform for improved surveillance and attack capabilities.
Based on end user, the air forces segment is projected to grow at the highest CAGR during the forecast period. Air forces use airborne communication and air-ground communication solutions to exchange essential information and stay updated about situations. Communication solutions ease the routine operations of air forces as regular information transmission plays a vital role in timely decision-making.
The Asia Pacific military communications market is projected to grow at the highest CAGR during the forecast period. The military communications market in Asia Pacific is witnessing exponential growth, mainly because of the growing security and border threats from neighboring countries. Technological advancements and rapid economic development in China, India, Russia, and South Korea have helped increase the investments in the Asia Pacific military communications market.
Speak to Our Expert Analyst @ https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=66198542
Companies such as General Dynamics (US), Lockheed Martin (US), Northrop Grumman (US), BAE Systems (UK), and Raytheon (US) offer military communication solutions. These players have adopted various growth strategies, such as expansions, agreements, partnerships, acquisitions, new product launches, and product enhancements, to strengthen their position in the military communications market. Agreements, collaborations & partnerships was the key strategy adopted by the players in the military communications market between February 2016 and July 2018.
Media Contact
Company Name: MarketsandMarkets
Contact Person: Mr. Sanjay Gupta
Email: Send Email
Phone: 18886006441
Address:630 Dundee Road Suite 430
City: Northbrook
State: IL 60062
Country: United States
Website: https://www.marketsandmarkets.com/Market-Reports/military-communications-market-66198542.html
