USD 41.41 Billion
Report ID: SQMG50B2003 | Region: Global | Published Date: November, 2022 | Pages: 157
Global Military Communications Market was valued at USD 41.41 Billion in 2021, and it is expected to reach a value of USD 54.86 Billion by 2028, at a CAGR of 4.10 % over the forecast period (2022-2028).
Military communication can be described as the transmission of information from reconnaissance and other units in contact with the enemy, as well as a means for commanders to demonstrate command orders and instructions to their subordinates. It incorporates all approaches to transmitting messages, orders, and reports in the field and at sea, and between headquarters and distant infrastructure or ships. It includes all aspects of armed forces' information and data communication for efficient operation, military command, and control. To transmit information across people and regions, it usually depends on a vast and complex communication network of equipment and protocols. Various governments are increasingly focusing on advanced communication innovations to enhance operational efficiency and digital communication capabilities. The use of smart devices and sensors in the defence sector is likely to generate revenue and increase the growth of the military communications market.
Some of the major factors driving the growth of the military communications market also include replacement of overaged technology with more advanced equipment, the introduction of digital communications, and an increase in defence expenditures in developing countries such as China, India, and South Korea. Moreover, increased government investments in the defensive system sector all over the world, as well as an emphasis on providing network-centric and data-centric communications, drive market growth.
Global Market Size
USD 41.41 Billion
Military Satcom Systems
Military Radio Systems
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The global military communications market is segmented based on communication type, component, application, end-user, technology, and region. Based on communication type it is categorized into airborne, air-ground, underwater and ground-based. Based on component it is categorized into military satcom systems, military radio systems, and military security systems. Based on application type it is categorized into command and control, routine operations, situational awareness and others. Based on technology, the market is segmented into SATCOM, VHF/UHF/L-Band,HF Communication, and Data Link. By platform, the market is segmented into airborne, ground, naval, and space. Based on end user it is categorized into land forces, naval forces, and air forces. Based on region it is categorized into: North America, Europe, Asia-Pacific, South America, and MEA.
Analysis by Communication Type
During the forecast period, the airborne communication segment is expected to have a larger market share. The increased focus and investment to strengthen the capabilities of air forces is a key trend contributing to market growth. Several countries, including the United States, the United Kingdom, Russia, Israel, India, Japan, Singapore, and China, have increased spending to strengthen their air forces, which is expected to increase spending on airborne communications. During the forecast period, the underwater communications segment is expected to grow at the fastest CAGR.
Analysis by Component
The military SATCOM systems segment is expected to have the largest market share among components. Because of its wider coverage, ease of installation, security, and location independence. With the introduction of SDR, the military radio systems segment is expected to grow at a substantial rate. Concerns about security are expected to increase the adoption of military security systems, boosting the growth of the military security systems segment.
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The military communications market in the Asia Pacific is expanding at an exponential rate, owing primarily to rising security and border threats from surrounding countries. Because of the region's increasing technological advancements, North America is expected to have the largest Military Communications market size during the forecast period. Europe is expected to have the second-largest military communication market share in 2020. During the forecast period, APAC is expected to have the highest growth rate. It is also expected to be the military communications market's fastest-growing region.
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The military communications vendors have implemented various types of organic as well as inorganic growth strategies, such as new product launches, product upgradations, partnerships and agreements, business expansions, and mergers and acquisitions, to strengthen their offerings in the market. The Major players in the market are Aselsan, Bae Systems, Lockheed Martin Corporation, Thales Group, Collins Aerospace, Raytheon Company, Tcl Communication General Dynamics Corporation, And Harris Corporation.
Top Players Company Profiles
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According to our Military Communications Market analysis, current attempts to construct a Military Communications are centred on the peaceful coexistence of stakeholders of all sizes, promote decentralised division of power, and hasten the transition to web 3.0. The promise of the Military Communications is based on the disruption of existing technologies and the integration of multiple platforms for value creation in a virtual universe of possible applications spanning work, entertainment, financing, trade and exchange of services, virtual travel, gaming, and digital engagements in an immersive self-sustaining ecosystem powered by digital currencies and enabling edge computing.
|Market size value in 2021||USD 41.41 Billion|
|Market size value in 2028||USD 54.86 Billion|
|Forecast Unit (Value)||USD Billion|
|Regions covered||North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)|
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Parent Market Analysis
KEY MARKET INSIGHTS
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Global Military Communications Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Military Communications Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
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Product ID: SQMG50B2003