The global military radio system market is growing persistently. The market growth attributes to the pervasively increasing need for advanced communication devices for the defense sector. Also, the demand for radio systems is increasing in the police department and public security & private security services. Moreover, increasing deployments of 3G, 4G, and LTE networks escalate the growth of the market to furthered height.
According to Market Research Future (MRFR), the global military radio system market is expected to garner exponential traction by 2025, growing at a phenomenal CAGR throughout the forecast period (2019-2025). The rising adoption of long-term evolution (LTE) technology increases the size of the military radio system market. Besides, rising defense budgets in countries across the globe is a key driving force for the market.
Military radio systems are designed to assist defense forces in communicating confidential information during usual military exercises and warfare. Rapid advancements in the handheld radios, software-defined radios (SDR), and other related communication technologies, push the market growth further. The demand for manned guarding services to protect civilians has been rising.
Simultaneously, the defense sectors are witnessing constant demand for trained security personnel. Moreover, quadrupling numbers of malls, shopping centers, and IT parks that warrant wireless communication devices indicate the increasing need for secured communication mediums. The rising demand for high-performance embedded computing for adaptive waveform processing applications provides significant impetus to market growth.
Military Radio System Market – Segments
The report is segmented into three dynamics;
By Type : Manpack Radios, Vehicular Radios, and others.
By End User : Naval, Ground Force, Air Force, and others.
By Regions : Europe, North America, Asia Pacific, and Rest-of-the-World.
Military Radio System Market – Regional Analysis
North America dominates the global military radio system market. The largest market share attributes to significant technological upgrades and early uptake of advanced technologies. Besides, the strong presence of many industry players and telecommunication equipment providers drive the regional market demand.
Moreover, the establishment of multiple standards and large defense sector in this region create numerous opportunities. The North American military radio system market is projected to retain its dominance over the overall market throughout the estimated period.
Europe stands second in the global military radio system market. Most countries in the region have robust military forces and large defense budgets for public security. The resurging economy of this region plays a causal role in the growth of the military radio market. Also, the growing demand for secured communication systems drives market growth in the region.
Countries such as Germany and the UK, with their enormous investments for military radio systems, account for considerable shares in the regional market. Also, increasing advances in related technologies in these countries contribute to the regional market. The European military radio market is expected to create a substantial revenue pocket over the assessment period.
The Asia Pacific region has emerged as a promising market for military radio systems globally. Factors such as increasing deployments of 3G, 4G, and LTE networks and high investments in the defense sector by the governments in India, China, Japan, and South Korea, among other developing countries, boost the regional market growth.
Moreover, huge technological advances and the rapidly improving economy across the APAC countries result in increasing the use of communication technologies and regional market growth. The APAC military radio system market is forecasted to grow at the heights CAGR throughout the predicted period.
Military Radio System Market – Competitive Analysis
The military radio system market appears highly competitive due to the presence of several well-established players. Strategies such as mergers & acquisitions, collaboration, and product/technology launch remain key trends for the leading players to gain a larger competitive share. Rising usages of the latest communication networking technologies and interoperability solutions remain their primary focus. Industry players strive to develop low-cost, compact systems, improved hardware, and after-sale services to the end-users.
Many suppliers are focusing on developing advanced military radio systems that can help them remain at the forefront of the competition and raise entry barriers for new entrants. They form strategic alliances with local dealers and manufacturers to expand their business. They also employ distribution channels and dealers to deliver products in the countries where stringent regulations restrict them from exporting these systems.
Players leading the market for the military radio system include Leonardo SpA (Italy), BARRETT Communications (Australia), Harris Corporation (US), Thales Communications & Security SAS (France), Radmor SA (Poland), Codan Limited (Australia), FLIR Systems (US), Selex ES (Italy), Elbit Systems Ltd (Israel), and Safran SA (France), among others.
July 08, 2020 ---- Elbit Systems Ltd., the Israeli defense electronics company, announced receiving the Swedish tactical radio deal. Under the contract, Elbit would supply advanced E-LynX Software Defined Radio (SDR) systems to the Swedish Army. It is a follow-on order, which expands Elbit's involvement in Sweden's tactical radio upgrade program. The latest delivery, including the E-LynX handheld and vehicular configurations, would be carried out through Elbit Systems' subsidiary in Germany.
Global Military Radio System Market by Type (Manpack Radios, Vehicular Radios), by End User (Naval, Ground Force, Air Force), by Region (North America, Europe, Asia-Pacific, Middle East & Africa, Latin America)—Forecast till 2025 @ https://www.marketresearchfuture.com/reports/military-radio-system-market-4262