The report includes in-depth analysis of different segments and provides market estimations between 2017 and 2025.Key market players are profiled to gain an understanding of the strategies adopted by them.
Portland, OR -- (SBWIRE) -- 05/23/2018 -- Defense Tactical Radio Market was valued at $7,978.5million in 2016, and is projected to reach at $17,874.1 million by 2023, growing at a CAGR of 11.9% from 2017 to 2023.
In military and defense sector, tactical radio communication is majorly used to convey command over the battlefield from person to person. Defense tactical radio is an emerging technology, which features superior sound quality, emergency tracking, and geofencing. In addition, with advancements in technology defense tactical radio is now smaller in size, lightweight, and less expensive.
Increase in the significance of effective communication majorly drives the market. In addition, application in various sectors, such as government and public safety and rise in demand for wireless communication that helps provide secured and noise free information to the end user also fuel the market growth.
The increase in need for lightweight and small military handheld radio is identified as one of the key trends that is projected to boost the market growth in the coming years. However, shortage of spectrum and limited channel capability restricts the market. Moreover, increase in demand for tactical radio in the emerging market and positive approach of the government by investing in telecommunication sector, are expected to offer lucrative opportunities in the near future.
Key players operating in the global defense tactical radio market are BAE Systems, Inc., Barrett Communications Pty. Ltd, Cobham plc, Codan Limited, General Dynamics Corporation, Harris Corporation, Leonardo S.p.A, Raytheon Company, Rockwell Collins, Inc., and Thales S.A.
Segment Overview
The market is segmented into type, application, and region. Based on type, it is bifurcated into handheld and vehicle-mounted. By application, it is categorized into special operation force (SOF), army, navy, and air force. Based on region, the market is analyzed across North America, Europe, Asia-Pacific, and Latin America and Middle East (LAMEA).
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Top Impacting Factors
Increase in the Significance of Effective Communication Operation
Many public safety communication networks are migrating to broadband solutions, which implement IP WAN for first-responder radio networks, video surveillance, and LTE. This in turn improves the demand for greater efficiency and modernization of public safety communication networks.
Shortage of Spectrum and Limited Channel Capacities
Shortage of spectrum to be distributed among users limits the growth of this market. Operators find it difficult to get approval from regulatory bodies, which restricts communication.