USD 33.1 billion
Report ID:
SQMIG50B2012 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|Tables:
146
|Figures:
78
Military Communications Market size was valued at USD 33.1 billion in 2019 and is poised to grow from USD 35.12 billion in 2023 to USD 54.11 billion by 2031, growing at a CAGR of 6.37% in the forecast period (2024-2031).
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.
US Military Communications Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Market Size
USD 33.1 billion
Largest Segment
Military Satcom Systems
Fastest Growth
Military Radio Systems
Growth Rate
6.37% CAGR
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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.
Military Communications Market 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.
Military Communications Market 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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Military Communications Market Driver
Military Communications Market Restraint
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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.
Military Communications Market Top Players Company Profiles
Military Communications Market Recent Developments
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
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.
Report Metric | Details |
---|---|
Market size value in 2023 | USD 33.1 billion |
Market size value in 2031 | USD 54.11 billion |
Growth Rate | 6.37% |
Forecast period | 2024-2031 |
Forecast Unit (Value) | USD Billion |
Segments covered |
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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) |
Companies covered |
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Customization scope | Free report customization with purchase. Customization includes:-
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Historical Year | 2019 |
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Executive Summary
Market overview
Parent Market Analysis
Market overview
Market size
KEY MARKET INSIGHTS
COVID IMPACT
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the 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 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.
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Military Communications Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Military Communications Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Military Communications Market size was valued at USD 33.1 billion in 2019 and is poised to grow from USD 35.12 billion in 2023 to USD 54.11 billion by 2031, growing at a CAGR of 6.37% in the forecast period (2024-2031).
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Report ID: SQMIG50B2012
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