Global $14.7Bn Tactical Communications Market, Forecast to 2029 - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--Nov 21, 2019--
The “The Global Tactical Communications Market 2019-2029” report has been added to ResearchAndMarkets.com’s offering.
The global Tactical Communication market is estimated to value US$12.4 billion by the end of 2019, registering a compound annual growth rate (CAGR) of 1.69% to value US$14.7 billion by 2029.
The cumulative expenditure on tactical communication equipment over the forecast period is estimated to value around US$147.8 billion. The expenditure on this sector is anticipated to be driven by the changing warfare scenario from conventional to asymmetric warfare which further has compelled the militaries to emphasize on tactical communications significantly.
This report offers a detailed analysis of the industry, with market size forecasts covering the next ten years. This report will also analyze factors that influence demand for tactical communication systems, key market trends, and challenges faced by industry participants.
The report provides an in-depth analysis of the following:
- Market size and drivers: detailed analysis during 2019-2029, including highlights of the demand drivers and growth stimulators. It also provides a snapshot of the spending and modernization patterns of different regions around the world
- Recent developments and industry challenges: insights into technological developments and a detailed analysis of the changing preferences of Tactical Communications segments around the world. It also provides trends of the changing industry structure and the challenges faced by industry participants
- Regional highlights: study of the key markets in each region, providing an analysis of the key segments of the market that are expected to be in demand
- Major programs: details of the key programs in each segment, which are expected to be executed during 2019-2029
- Competitive landscape and strategic insights: analysis of the competitive landscape of the global market. It provides an overview of key players, together with information regarding key alliances, strategic initiatives, and financial analysis
Companies Mentioned: Leonardo SpA, Elbit Systems, General Dynamics, Saab Group, Thales, L3 Harris, Hanwha Corp, ViaSat, Data Link Solutions, Huneed Technologies, Datron World Communications.
The tactical communication market is categorized into five segments: airborne, naval, man-portable, stationary and vehicular. During the forecast period, vehicular tactical communication segment is expected account for the largest share of 24.4%, with cumulatively expenditure of US$36.1 billion. Airborne tactical communication segment is projected to be the second largest market over the forecast period and is expected to account for a total share of 23.6% of the global market. Airborne tactical communication segment is followed by stationary, naval and man-portable with shares of 18.2%, 17.5%, and 16.3% respectively, during the forecast period.
Asia Pacific is anticipated to account for the largest share of 36.4% in the tactical communications market followed by Europe and North America with respective shares of 29.4% and 27% during 2019-2029. Increase in defense spending in countries such as China, India, Australia, Japan and Singapore are expected to drive the market in the Asia-Pacific region over the forecast period. The Middle East, Africa and Latin America are projected to garner respective shares of 3.4%, 2.1% and 1.7% in the global tactical communications market during 2019-2029.
Over the past few years, it has been noted that the US and European countries were the key procurers of advanced tactical communication systems. At present, these developed nations posses communication systems that are fairly new and technologically advanced as compared to systems owned by rest of the world. However, developed nations are still investing on procuring newer systems to have strong edge over the rival countries. In addition, these nations are focusing more on the replacement of their legacy radio systems with advanced and secure communication systems to increase their voice and data capabilities. On the flip side, developing nations, along with the increasing defense budgets, are also allocating significant amount for procuring and developing advanced communication equipment.
- The global Tactical Communications market is expected to grow at a CAGR of 1.69% over the forecast period.
- The market consists of five categories: Man-Portable, Vehicular, Stationary, Naval and Airborne. Asia Pacific will dominate the sector, followed by Europe and North America. The Vehicular segment is expected to be the leading segment with a share of 24.4%.
Reasons to Buy
- Determine prospective investment areas based on a detailed trend analysis of the global tactical communications market over the next ten years
- Gain in-depth understanding about the underlying factors driving demand for different tactical communications segments in the top spending countries across the world and identify the opportunities offered by each of them
- Strengthen your understanding of the market in terms of demand drivers, industry trends, and the latest technological developments, among others
- Identify the major channels that are driving the global tactical communications market, providing a clear picture about future opportunities that can be tapped, resulting in revenue expansion
- Channelize resources by focusing on the ongoing programs that are being undertaken by the defense ministries of different countries within the global tactical communications market
- Make correct business decisions based on thorough analysis of the total competitive landscape of the sector with detailed profiles of the top tactical communications providers around the world which include information about their products, alliances, recent contract wins and financial analysis wherever available
For more information about this report visit https://www.researchandmarkets.com/r/5cq5cx
View source version on businesswire.com:https://www.businesswire.com/news/home/20191121005856/en/
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INDUSTRY KEYWORD: TECHNOLOGY DEFENSE OTHER TECHNOLOGY OTHER DEFENSE
SOURCE: Research and Markets
Copyright Business Wire 2019.
PUB: 11/21/2019 01:26 PM/DISC: 11/21/2019 01:26 PM