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USD 6.61 bn Growth in Military Communication Market | Increasing Use of IoT Devices to Drive Growth | Technavio
NEW YORK, Nov. 22, 2021 /PRNewswire/ -- The military communication market is set to grow by USD 6.61 bn from 2020 to 2025, progressing at a CAGR of 3.79%. This report presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters.
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The military communication market report covers insights on major trends, key growth drivers, and challenges impacting the overall growth of the market. The market is driven by the increasing use of IoT devices.
The military communication market covers the following areas:
Military Communication Market Sizing
Military Communication Market Forecast
Military Communication Market Analysis
Market Challenges
- High transmission power requirement translates to prohibitive costs: Air traffic management leverages various radio equipment for detecting the position of an aircraft. However, the detection is challenging, as the reflected waves from aircraft are often of low magnitudes and are almost undetectable without a powerful device. Hence, high transmission power is required for detecting the signal, which translates to a high cost of maintenance and operation.
- Size, weight, and power challenges associated with the design of radars and associated components: Military airborne platforms necessitate the integration of multifunction systems and power management equipment in critical missions. As the payloads of military UAVs continue to evolve, the designing of small UAVs adhering size, weight, and power requirements becomes a major challenge.
- Exposure to cybersecurity threats: In aircraft, functions such as landing and braking, flight navigation and control, propulsion, and information systems are managed by safety-critical software and embedded electronic systems. The data generated during flight is analyzed for flight safety and optimization. Cyber breaches can result in the loss of confidential information related to program specifications and technologies, which can have a significant impact on the reputation and performance of enterprises.
Some Companies Mentioned
- ASELSAN AS
- BAE Systems Plc
- Cobham Plc
- Elbit Systems Ltd.
- General Dynamics Mission Systems Inc.
- L3Harris Technologies Inc.
- Lockheed Martin Corp.
- Northrop Grumman Corp.
- Raytheon Technologies Corp.
- Thales Group
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Military Communication Market Scope
| Report Coverage
| Details
| Page number
| 120
| Base year
| 2020
| Forecast period
| 2021-2025
| Growth momentum & CAGR
| Accelerate at a CAGR of 3.79%
| Market growth 2021-2025
| USD 6.61 billion
| Market structure
| Fragmented
| YoY growth (%)
| 2.37
| Regional analysis
| North America, APAC, Europe, MEA, and South America
| Performing market contribution
| North America at 45%
| Key consumer countries
| US, China, India, Russian Federation, and UK
| Competitive landscape
| Leading companies, competitive strategies, consumer engagement scope
| Companies profiled
| ASELSAN AS, BAE Systems Plc, Cobham Plc, Elbit Systems Ltd., General Dynamics Mission Systems Inc., L3Harris Technologies Inc., Lockheed Martin Corp., Northrop Grumman Corp., Raytheon Technologies Corp., and Thales Group
| Market Dynamics
| Parent market analysis, market growth inducers and obstacles, fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, market condition analysis for the forecast period
| Customization purview
| If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.
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