Military Communication Market Worth 62 Billion USD By 2024 | CAGR 11.3% Globally<span class="rating-result after_title mr-filter rating-result-4815" >			<span class="no-rating-results-text">No ratings yet.</span>		</span>
Military Communication Market Worth 62 Billion USD By 2024 | CAGR 11.3% Globally

Market Overview

Despite of reduction in military budgets in past few years, rising geopolitical issues and cross border security concerns are fuelling the demand for strong military power for countries across the globe. This growing concern over wars and border security is increasing the spending on command, control, communication, computers, intelligence, surveillance and reconnaissance C4ISR systems which will eventually fuel the growth for global military communication market. Moreover, involvement of US in Middle East conflicts is highlighting the requirement for advance communication systems for militaries to operate effectively in remote and hostile environment. Furthermore, ongoing terrorism threats and territorial conflicts between countries such as North Korea and South Korea, India and Pakistan and China’s ongoing attempts to claim entire regional dominance are contributing in the growing demand for advance military C4ISR platforms.
Applications of sensors and smart devices are penetrating into defense industry which are providing strategic advantages in battlefields and promoting the connected military systems. Weight, power and size are major limitations for military system to use advance devices. To overcome this situation, companies such as TE Connectivity Ltd. are focusing on the advancements of products with small antenna, lightweight electronics and radio-frequency technology for the connected military system. These technologies are likely to boost the demand for military Communications across the globe. Moreover, in 2016, acquisition of GATR Technologies GATR by Cubic Corporation for the development of next-generation deployable satellite communication terminal solutions to expand its mobile command and control systems for defense industry. Such initiatives are expected to support the growth of military communication market in the near future.

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Market Segmentation

Global Military Communication Market is segmented on the following basis:

Based on Communication Type

Air-Based Communication
Ship-Based Communication
Air-Ground Based Communication
Underwater Based Communication
Ground-Based Communication

Based on Systems

Military SATCOM Systems
Military Radar Systems
Military Radio Systems
Military Intercom Network Systems
Military Communication Management Systems

Based on Application

Command and Control
Situational Awareness
Routine Operations
Others Applications Disaster Recovery Operations and Remote location Operations

Based on Geography

North America U.S. & Canada {Market Size USD Billion , Growth Analysis % and Adoption Rate % }
Latin America Brazil, Mexico, Argentina & Rest of Latin America {Market Size USD Billion , Growth Analysis % and Adoption Rate % }
Europe The U.K., Germany, France, Italy, Spain, Poland, Sweden & RoE {Market Size USD Billion , Growth Analysis % and Adoption Rate % }
Asia-Pacific China, India, Japan, Singapore, South Korea, Australia, New Zealand, Rest of Asia {Market Size USD Billion , Growth Analysis % and Adoption Rate % }
Middle East & Africa GCC, South Africa, North Africa, RoMEA {Market Size USD Billion , Growth Analysis % and Adoption Rate % }
Rest of World {Market Size USD Billion , Growth Analysis % and Adoption Rate % }

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Market Size and Forecast 2016-2024

Global military communication market is anticipated to reach over USD 62.0 billion in 2024, registering a notable CAGR of 11.3% during the forecast period. Wide adoption of emerging technologies such as advanced extra high frequency AEHF band satellite communication, Ka-band, commercial off-the-shelf COTS products and other technologies in defense industry for confidential, reliable and fast communication are expected to propel the deployment of advance military communication systems across the globe.
North America occupied over 46% revenue share of Global Military Communication market in 2015 and is projected to reach value over USD 23.0 billion in 2024. Despite the presence of largest military communication market in North America, Canada has the weakest military strength due to lack of attack helicopters, combat aircraft and other strong military ammunitions. Reduction in military budget is hindering the growth of Canada military communication market.
Asia-Pacific and Middle East and Africa region are projected to witness remarkable growth for military communication market during the forecast period. Presence of well-built military powers such as China, India, Egypt, Japan, Israel and South Korea are supporting the market growth of military communications in Asia-Pacific and Middle East and Africa region. Although Israel has small military however, maximum numbers of Israeli populations have military training. Israel has advanced fighter jets, high-tech armed drones with advance space assets, nuclear weapons. Israel government invested over USD 2 billion for advance military satellites.
Europe military communication market is expected to grow at a CAGR of 9.8% during the forecast period. With the ongoing Ukraine crisis, Poland military communication market showed an impressive growth in past few years owing to its increasing military spending. Moreover, strong military power and huge adoption of advance military communication system by Germany, Russia, France and Italy are likely to drive the growth of military communication market in the region.

Market Drivers and Challenges

Communication systems are becoming an integral part of military’s strategic advantage, due to growing conflicts and wars between countries. Ongoing terrorism fears are increasing the need for the rapid deployment of advance military communication and intelligence systems. Military communication system also required in disaster relief centers for quick response and help for people in trouble. Moreover, robust network environments and connected technology are enhancing the communication systems and propelling the demand for military communication across the globe. However, high cost of communication system design and lack of precise and customized equipments for varied forces for communication in hostile environment hindering the growth of military communication market. Huge initial investment for the deployment of latest network communication platforms such as 2G/3G/4G and LTE are inhibiting the growth of global military communication market.

Key Market Players

Lockheed Martin Corporation
BAE Systems plc
Northrop Grumman Corporation
L-3 Communications Holdings Inc.
Airbus group
Rockwell Collins
Raytheon Company
Thales Group
Alcatel-Lucent S.A.
General Dynamics Corporation
Harris Corporation
Ultra Electronics
Elbit Systems
ViaSat, Inc

Scope Background

Market Synopsis
Market Segmentation

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The Global Military Communication Market is segmented as follows:

By Communication Type Market Size, Demand Analysis and Growth Analysis
By Systems Market Size, Demand Analysis and Growth Analysis
By Application Market Size, Demand Analysis and Growth Analysis

By Region

North America U.S., Canada {Market Size, Growth Analysis and Opportunity Analysis}
Latin America Argentina, Mexico, Brazil and Rest of Latin America {Market Size, Growth Analysis and Opportunity Analysis}
Europe Germany, Italy, Spain, France, The U.K., Netherlands, Sweden, Hungary, Russia, Poland, Rest of Europe {Market Size, Growth Analysis and Opportunity Analysis}
Asia-Pacific China, India, Singapore, Japan, Hong-Kong, Australia, New Zealand, South Korea and Rest of Asia Pacific {Market Size, Growth Analysis and Opportunity Analysis}
Middle East and North Africa MENA {Market Size, Growth Analysis and Opportunity Analysis}
Rest of World {Market Size, Growth Analysis and Opportunity Analysis}

Market Dynamics: Growth Drivers, Restraints and Opportunities

Risk Factors
Regional Variations
Recent Trends and Developments
Synopsis
Business Strategy
Product Portfolio
SWOT Analysis
Porter’s Five Force Model
Market Landscape: Competition and Beyond
Market outlook for business players and entry level players to ascertain their business in dynamic ecosystem
Expert Analysis
Concluding Remarks

Customization of this Report can be done as per client’s requirement.

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