The report on the Tactical Communication Market has been launched by Stratview Research is an all-inclusive report that talks about the market structure and growth in the forecast period of 2022-2028. The report also offers insights into different market segments and other factors affecting the market.
The tactical communication market was estimated at US$ 9.3 Billion in 2021 and is expected to grow at a CAGR of 15.1% during 2022-2028 to reach US$ ~21.1 Billion in 2028. The military is being compelled to improve its tactical communication capabilities by the swift transition to asymmetric warfare. The worldwide armed forces are concentrating on expanding the network-based communication capabilities of their military equipment across the land, air, and sea domains to increase combat effectiveness, which is fueling the market’s expansion. Additionally, it is predicted that demand for network-centric warfare and satellite-based communication would expand along with investments being made in integrating new battlefield technology during the projection period.
The market’s growth is influenced by a number of factors that have a significant or indirect impact on demand. An overview of such factors can be found in our report, which is derived utilizing SWOT analysis, industry life cycle, and supply chain analysis. Such key information can help market participants and investors identify the low-hanging fruits in the market and establish strategic initiatives to accelerate their growth.
COVID-19 IMPACT on the Market-
The COVID-19 pandemic has influenced almost all the industries, little or large, dealing in any sector.
The growth curves of Tactical Communication market have witnessed enormous ebb and flows in the year 2020. The market scenario and the pace of growth have taken a huge turn and have prompted numerous adjustments in the cycles. 2021 is probably going to be superior to 2020 for the Tactical Communication market players as the greater part of the organizations have continued their activities and the interest is getting re-established for them.
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The Cornerstones in the market-
Listed below are the top key players that dominate the Tactical Communication market –
- BAE Systems PLC.
- Northrop Grumman Corporation
- General Dynamics Corporation
- L-3 Communications Holdings, Inc.
- Raytheon Company
- Harris Corporation
- Iridium Communications
- Viasat, Inc.
- Curtiss-Wright (Tactical Communications Group LLC)
- Thales Group
Tactical Communication Market Segmentation:
The report segments based upon demographics, geographics, benefits and volume etc, has different leading factors and identifies the most-attractive segments and sub-segments. The market segmentation will not only help marketers to be more efficient in terms of time, money and other resources but also allows companies to learn about their target audience so that they can tailor campaigns that leads a roadmap to success.
The tactical communication market is segmented into the following categories.
The tactical communication market has been divided into airborne, shipborne, land-based, and submerged systems based on the platform. The tactical communication market’s underwater tactical communication systems segment is anticipated to see the greatest CAGR growth during the forecasting period.
Tactical communication systems based on next-generation networks (NGNs) and time-division multiplexing (TDM) have been divided into market segments based on technology. During the projection period, the NGN tactical communication systems sector is anticipated to see the greatest CAGR.
The tactical communication market has been divided into many types based on type, including soldier radio, manpack radio, high-capacity data radio (HCDR), and vehicle intercommunication radio (VIC). According to market size, the vehicle intercommunication radios (VIC) category now holds a monopoly and is predicted to keep it for the next five years. The manpack radios category, however, is anticipated to see the fastest CAGR growth throughout the projection period.
North America will likely maintain its supremacy in the tactical communication market throughout the forecast period. The world’s largest military spender is the United States. According to SIPRI, the nation’s military spending increased by 4.4 percent in 2020 to reach USD 778 billion, making up 39% of all military spending worldwide. Over the next two years, the nation intends to expand its financial support for electronics, sensors, and communications by around 20%. During the forecast period, there is anticipated to be a significant increase in demand for Leader and Manpack radios as a result of the nation’s Handheld, Manpack, and Small Form Fit (HMS) program, which aims to purchase a family of software reprogrammable radios for tactical voice and data communications.
The Communications (PTS) program is designed to offer jam-resistant, low-probability-of-interception satellite communications for tactical troops operating in highly contested areas. Contrarily, the Advanced Extremely High Frequency (AEHF) program’s successor, the Evolved Strategic Satellite Communications (ESS) program, is designed to serve strategic tasks including nuclear command and control. Similar to the United States, Canada intends to make large investments in purchasing portable communication equipment in the upcoming years. During the forecast period, these modernization programs to improve the capabilities of the local armed forces are anticipated to fuel market expansion in North America.
Concurrently, Asia Pacific is expected to witness the fastest growth in the tactical communication market during the forecast period. The APAC area has seen an increase in defense spending, with a particular focus on enhancing communications capabilities by acquiring cutting-edge tactical communication equipment. Manufacturers of tactical communication systems now have large market potential.
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