According to a new market research report published by Credence Research “The global military communications market worldwide is estimated at US$ 32.20 billion in 2018 and is expected to grow by 4.0% over the forecast period.”
Browse the full report at “Military Communications Market”
The global market for military communications is driven by the growing number of satellites used by various military and defense agencies to improve their communications on land, water or air. In addition, the ever-increasing need for safe and reliable military-sector communications, digitalization, modernization and substitution of ancient machinery and machines is an essential step for the industry. Systematic launched IRIS Forms 5.6 in July 2018, which was created to help complicated geometries and simplify complexity data that enables the military to easily analyze, understand, and handle data. In addition, Raytheon extended its presence in May 2018 for its forest-based manufacturing center in East Mississippi (US), which has a fresh radar manufacturing center campus for S-band radar integration, testing and manufacturing. These activities enable companies to strengthen their portfolio of solutions for electronic warfare and airborne radar.
The military communications market was segmented as land forces, naval forces, and air forces based on end-user. Land force is accounted to dominate the segment and is expected to dominate with more than 1/3 of market share during the forecast period. Land forces / armies are very much dependent on ground-based communication systems to share the essential information needed to update the position and situation on the battlefield. Military communication is also required in order to secure information from the enemy.
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Asia-Pacific is anticipated to be the fastest increasing market owing to the existence of increasing and developing nations like India, China, Japan, South Korea, Australia and others that are investing heavily in the market to boost their communication ability and are projected to expand at a CAGR of 5.8 percent over the forecast period. Furthermore, the increasing terrorist activity in the region is a major driver of 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.