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.

Attractive Opportunities in Military Communication Market by System and Geography - Forecast and Analysis 2021-2025

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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.

About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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Technavio (PRNewsfoto/Technavio)

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