5G in Defense Market Size to Reach USD 76,014.6 Million by 2030 at CAGR 67.7% - Valuates Reports
BANGALORE, India, April 6, 2021 /PRNewswire/ -- The 5G in Defense market is Segmented by Communication Infrastructure (Small Cell, Macro Cell, and Radio Access Network (RAN)), Core Network Technology (Software-Defined Networking (SDN), Fog Computing (FC), Mobile Edge Computing (MEC), and Network Functions Virtualization (NFV)), Network Type (Enhanced Mobile Broadband (eMBB), Ultra-Reliable Low-Latency Communications (URLLC), and Massive Machine Type Communications (MMTC)), Chipset (Application-specific Integrated Circuit (ASIC) Chipset, Radio Frequency Integrated Circuit (RFIC) Chipset, and Millimeter Wave (mmWave) Chipset), and Platform (Land, Naval, and Airborne). The report covers global opportunity analysis and industry forecast from 2020 to 2030. It is published on Valuates Reports in the Internet & Telecom Category.
The global 5G in Defense market size valued USD 551 Million in 2020 and is projected to reach USD 76,014.6 Million in 2030, registering a CAGR of 67.7%.
Rising investments in 5G technology by various countries are expected to be the major growth factor driving the 5G in defense market size forward during the forecast period. Furthermore, increase in the adoption of autonomous technology to enhance a country's defense capabilities.
Low latency and increased bandwidth in 5G networks can improve intelligence, surveillance, and reconnaissance (ISR) systems and processing; modernize logistics operations for increased efficiency, and develop new command and control (C2) methods, among other things.
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TRENDS INFLUENCING THE 5G IN DEFENSE MARKET
An increase in autonomous defense vehicles, drones, and robots is expected to drive the growth of 5G in defense market size. The military industry relies heavily on autonomous vehicles, drones, and robots. These are completely autonomous tools that use telecommunication technologies like the 5G network to deliver services in real-time to defense agencies in risky, inconvenient, and difficult areas of activity, such as remote surveillance for enemy infantry.
The rise in support of the government toward the development of 5G is expected to fuel the growth of 5G in defense market size. Multiple governments from developed and emerging nations such as the U.S., Russia, China, India, and others have invested billions of dollars toward autonomous defense where the 5G network is a mandate for seamless connectivity. 5G enables governments around the world to provide stable, dependable, and agile protection for their citizens and assets. These characteristics encourage policymakers to increase their contributions to the advancement of 5G technology.
However, Cybersecurity threats to the 5G network might hinder the 5G in defense market size. Designing, introducing, and sustaining 5G networks would be a challenge because various players, such as communication service providers (CSPs), network infrastructure providers (NIPs), and virtual mobile network operators (VMNOs), have different goals when it comes to privacy and security policies.
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5G IN DEFENSE MARKET SHARE ANALYSIS
Radio Access Network is projected as the most lucrative segment during the forecast period. The increased use of RAN for stable and low-latency networks is driving the growth of the Radio Access Network segment in the 5G in the Defense market.
Fog Computing is expected to be the most lucrative segment. Fog computing can improve the latency and response time by providing the computer and storage facilities near to the defense base connected with 5G networks.
Massive Machine-Type Communications is expected to be the most lucrative segment. Massie Machine-Type Communications is designed to provide wide-area coverage and deep indoor penetration for hundreds of thousands of IoT devices per square kilometer.
Millimeter-Wave Chipset is projected as the most lucrative segment. 5G in defense deployment will rely on millimeter wave technology for high-speed, high-bandwidth communications and on sub-6 signals for nationwide coverage.
By Region, Asia Pacific would exhibit the highest CAGR of 72.2% during 2021-2030.
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COVID-19 Impact Analysis
5G in Defense Market Segments
5G in Defense Market By Communication Infrastructure
5G in Defense Market By Core Network Technology
5G in Defense Market By Network Type
5G in Defense Market By Chipset
5G in Defense Market By Platform
Top Players In The 5g In Defense Industry
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