Global Military Communications Market Analysis and Forecast to 2022 | Growth Opportunity Assessment
Princeton, NJ -- (SBWIRE) -- 06/18/2018 -- Military communication is all about transferring information across people and geography. A secure and robust communication system in the military sector is a prerequisite to provide timely connectivity, exercise authority, and direct forces across geographies. Hence, the military communications system must integrate emerging technologies such as Ka-band, Advanced Extra High Frequency (AEHF) band satellite communication, IP-based networking, Commercial off-the-shelf (COTS)-based products, and others. Adopting these technologies would facilitate the delivery of the right information to the right location and at the right time in an actionable format. Technologies such as Mobile User Objective System (MUOS) will soon provide secure mobile network communication, globally. The future perspective of growth in military communications is expected to be positive, considering the rise in demand for new technologies and updated communication techniques.
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The report analyses the significance of implementing military communication that would help military to exchange information on battle ground to analyze the situation and take decisions accordingly. The global military communications market is expected to grow from USD 23.02 billion in 2015 to USD 40.82 billion by 2020, at a CAGR of 12.1% from 2015-2020. The market has been segmented on the basis of component, communication type, application, and region. On the basis component, the market is segmented into military SATCOM terminal, military radio systems, military security systems, and communication management system. In terms of communication type, the market is segmented into airborne communication, air-ground communication, underwater communication, ground based communication, and shipborne communication. On the basis of application, the market covers command and control, routine operations, situational awareness, and others.
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On the basis of region, the global military communications market is segmented into NA, Europe, APAC, MEA, and LA for each region from 2015 to 2020. The table given below highlights the overall market opportunity in terms of absolute dollar value and year-on-year (Y-O-Y) growth.
Players in this market have adopted various strategies to expand their global presence and increase their market shares. Agreements, mergers & acquisitions, and new product developments are some of the major strategies adopted by the market players to achieve growth in the military communication market. The key market players such as Lockheed martin, Raytheon, and Northrop Grumman and many more have also adopted growth strategies like new product launch as an eminent strategy to expand their client bases and enter new market spaces. This strategy accounted for 23% of the total strategic developments in the military communications market.
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