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Global Defence Tactical Radio Market Report 2023: Increase in the Need for Lightweight and Small Military Handheld Radios Bolsters Growth
Global Defence Tactical Radio Market
Dublin, March 14, 2023 (GLOBE NEWSWIRE) -- The "Global Defence Tactical Radio Market - Forecasts from 2023 to 2028" report has been added to ResearchAndMarkets.com's offering.
The global defense tactical radio market was valued at US$15.051 billion in 2021 and is expected to grow at a CAGR of 9.24% over the forecast period to reach US$27.946 billion by 2028.
Defense tactical radio is regarded as an emerging technology that has superior quality features, geofencing, and also the feature of emergency tracking. In addition, advancements in technology used in defense tactical radio are making them less expensive and even smaller in size. Furthermore, tactical radio communications are widely used in the military and defense to convey command over the battlefield from person to person.
The increase in the need for lightweight and small military handheld radios, followed by the increase in the significance of effective communication operations, and wide application in various sectors is driving the global defense tactical radio market growth. In the military and defense industry, communication is crucial to the efficient conveyance of information.
Governments across the world are increasing defense spending so that the army can have clear communication with the soldiers on the ground. The manufacturers are spending more money on research and development to create and market new, technologically advanced products. These are the main factors boosting the demand for defense tactical radios.
Increasing government spending on defense systems is aiding market growth.
The government's growing defense budget and research & development expenditures to provide their soldiers with technologically advanced products that could establish clear communication during their fieldwork is a major driving factor. An overall global military expenditure in 2021 reached US$2.08 trillion, for the first time crossing the figure of US$2 trillion.
Sensor and smart device applications are now permeating the defense sector, potentially opening up new market opportunities for tactical radios. Additionally, the development of the tactical radios market is being positively impacted by the huge revolutionary changes that current developments in information and communication technology are bringing about in various defense sectors.
Market Developments:
In May in October 2022, L3Harris Technologies launched L3Harris AN/PRC-163 multi-channel tactical radio that would enable warfighters to stay connected anywhere on the battlefield, providing them extraordinary versatility in exercising command & control. The company recently in October 2021 received an order of 1,000 Falcon IV AN/PRC-171 compact team radios from the US army for enhancing its tactical communication.
In November 2021, Thales entered into a joint venture with Indra to develop SYNAPS multipurpose tactical radios based on Thale's next-generation SDR System. The joint venture of the two Europe-based leading providers of high-tech radios came with the aim to provide French and Spanish armed forces with versatile and efficient tactical radios.
Army held a major share in the global defense tactical radio market in 2021.
Based on application, the global defense tactical radio market is segmented into special operation force (SOF), army, navy, and air force. Due to the government's efforts to strengthen the army and collaboration with the defense tactical radio manufacturers for providing better solutions to armed forces are expected to push the market demand for such radios in the army.
For example, the Army's Integrated Tactical Network (ITN) Program provides the US Army with a network that is more resilient and secure by offering units several network communication pathways when faced with congested communications environments. This program is also likely to hold the defense tactical radio market in good stead.
In September 2020, PacStar announced that it had been given a tactical network communications contract by the Program Executive Office Command, Control, Communications-Tactical of the US Army to deliver its PacStar 400-Series platform for Scalable Class of Unified Terminals (SCOUT) in support of this program. Thus, all these developments are predicted to augment growth in the market.
Moreover, in November 2022, the Indian Army approved the project sanction orders of five Make II projects which included the development of high-frequency man-packed software-defined radios for army personnel. The project came as part of the government's Aatmanirbhar Bharat Abhiyaan.
North America constitutes a significant share owing to the rising adoption of advanced defense equipment aided by the biggest military spending power the U.S.
Based on geography, the global defense tactical radio market is segmented into North America, South America, Europe, the Middle East and Africa, and Asia Pacific regions. The US defense tactical radio market accounts for the major share owing to the highest allocation of the military budget across the world.
According to the Defense Budget report issued by the United States Department of Defense in April 2022, the government enacted a budget of up to US$15.4 billion in 2021 for its U.S. personnel who are operating in Syria and Iran. Further, favorable initiatives and developments are expected to propel the market growth in the country. For instance, the Handheld, Manpack, and Small Form Fit (HMS) program in the US, aimed at procuring a large amount of software reprogrammable radios for tactical voice and data communications, is likely to generate a huge demand for this equipment during the forecasted period.
Market Segmentation:
By Type
Handheld
Vehicle- Mounted
By Application
Special Operation Force (SOF)
Army
Navy
Airforce
By Geography
North America
United States
Canada
Mexico
South America
Brazil
Argentina
Others
Europe
United Kingdom
Germany
France
Spain
Others
The Middle East and Africa
Saudi Arabia
UAE
Israel
Others
Asia Pacific
Japan
China
India
South Korea
Indonesia
Thailand
Others
Key Attributes:
Report Attribute | Details |
No. of Pages | 152 |
Forecast Period | 2021 - 2028 |
Estimated Market Value (USD) in 2021 | $15.05 billion |
Forecasted Market Value (USD) by 2028 | $27.95 billion |
Compound Annual Growth Rate | 9.2% |
Regions Covered | Global |
Key Topics Covered:
1. INTRODUCTION
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
5. GLOBAL DEFENSE TACTICAL RADIO MARKET BY TYPE
6. GLOBAL DEFENSE TACTICAL RADIO MARKET BY APPLICATION
7. GLOBAL DEFENSE TACTICAL RADIO MARKET BY GEOGRAPHY
8. COMPETITIVE ENVIRONMENT AND ANALYSIS
9. COMPANY PROFILES
Companies Mentioned
Rolta India Limited
General Dynamics Mission Systems, Inc.
Harris Corporation
Thales Group
Advanced Electronics Company
EID S.A. (Subsidiary of Cohort plc)
ASELSAN A.S.
Raytheon Company
Rockwell Collins
Barrett Communications
For more information about this report visit https://www.researchandmarkets.com/r/15mhg9
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