Defence Tactical Radio Market to Grow at 12.2% CAGR by 2030
Rise in expenditure by the military forces, rise in demand for faster communication and advancement in the wireless communication technologies are the major factors which are expected to drive the growth of defence tactical radio industry during the forecast period of 2021-2030.
The Defence Tactical Radio Market is expected to witness a CAGR of around 12.2% from 2021-2030, as per a new report published by Next Move Strategy Consulting.
According to the report, rise in awareness about emergency tracking & defencing and increasing emphasis on establishing clear communication with the soldiers on the field are important factors driving the overall defence tactical radio market growth. Additionally, increasing is emphasis on need for lightweight and small military handheld radio and huge demand for noise free communication systems having their applications in military and navy are also expected to be the recent defence tactical radio market trends which are likely to create growth opportunities during the forecast period.
Based on type, the global Market is segmented into handheld radio and vehicle-mounted tactical radio. The handheld radio segment accounted for the largest defence tactical Radio Market share in 2019 and it is likely to maintain the lead in the coming years. The growth of handheld radio segment is driven by rise in demand for handheld radio in military and armed forces and growing number of application for handheld radio. Moreover, significant need for tactical communication systems including both voice and data communication to facilitate secured and reliable data transfer also drives the growth of the segment during the forecast period.
Based on application, the global market is segmented into special operation force (SOF), army, navy, and air force. The army segment is likely to be the fastest growing segment and whose growth is driven by increase in demand for technological advanced communication devices for immediate and emergency communications and availability of defence tactical radios with special features rendering faster communication. Furthermore, increase in demand for superior quality emergency tracking and communication solutions is also another important factor anticipated to drive the growth of the segment during the forecast period.
The prominent players in this Market are BAE Systems, Inc., Rohde & Schwarz INRADIOS, Leonardo S.p.A., Barrett Communications Pty. Ltd, L3 Technologies, Cobham plc, Codan Radio Communications, General Dynamics Corporation, Harris Corporation, Leonardo S.p.A, Raytheon Company, Rockwell Collins, Inc., Rolta India, Northrop Grumman, and Thales S.A.
Browse key industry insights from the report, “Defence tactical radio Market Size Type (Handheld, and Vehicle-mounted), by Application (Special Operation Force (SOF), Army, Navy, and AirForce), Regional Outlook (U.S., Canada, Germany, UK, France, Spain, Italy, Russia, China, India, Japan, Australia, Indonesia, Malaysia, South Korea, Brazil, Mexico, South Africa, Saudi Arabia, UAE, Kuwait), Growth Potential, Price Trends, Competitive Market Share & Forecast, 2021–2030” in detail along with the table of contents:
Key Insights from the Defence Tactical Radio Market Report:
- North America is the global leader in the global defence tactical Radio Market and is expected to maintain is lead during the forecast period
- The market share forautomotive industry segment is expected to be largest segment due to rise in the demand for defence tactical radio in Special Operation Force (SOF) industry
- Next Move Strategy Consulting has identified key players in defence tactical radio market includesBAE Systems, Inc., Leonardo S.p.A., Rohde & Schwarz INRADIOS, Barrett Communications Pty. Ltd, L3 Technologies, Cobham plc,Codan Radio Communications, General Dynamics Corporation, Harris Corporation, Leonardo S.p.A, Raytheon Company, Rockwell Collins, Inc., Rolta India, Northrop Grumman, and Thales S.A.
The Report Defence Tactical Radio Market – Segmented by Type, Application and Geography
About Next Move Strategy Consulting
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