"Increasing Demand of Secure and Robust Provision of Timely Connectivity Is Increasing the Demand for Military Communications Market"

Globally, the military communications market is expected to grow with a CAGR of 4.0% during the forecast period from 2023 to 2030, starting from 2021 with a market value of US$ 36.06 Bn. Military communication is defined as the transmission of information from one unit to another or headquarters to the units. The military communication is an important part for the armed forces to maintain their efficient functioning, military command, and control over the troops.

One of the major factors, which are driving the military communication market globally, is the increasing requirement of confidential, secure, and accurate real-time data transmission in military communications. Moreover, there are various companies, which are investing heavily in the market due to increasing applications of military communication among the forces. The military communication systems transmit messages, reports or order from field, air or sea between the ships, planes, or ground to the headquarters increasing the security and providing information in real-time.

"Military Communications with SATCOM Systems its Component Segment Continue Dominating the Market"

In 2020, the overall military communications market was led by the military Satcom systems by contributing more than 30% of the total market revenue. The utilization of satellite communications systems has increased among the military within the past decade due to security concerns, conducting military operations around the globe and increasing terrorist activities. Therefore provide the information in real-time the military is adopting the Satcom systems.

"North America Dominates the Market by Region"

The global military communications market is led by North America due to heavy investments made by the government present in the region on national security, aerospace & defense, and others. The US accounts for the largest market share based on the country in the region followed by Canada and Mexico. Moreover, the US government has increased its security after the attack of 9/11, which has also increased in the demand for military communication in the country.

The early adoption of the technology in the region is also a major factor, which is driving the market. Additionally, the presence of key players in the region such as General Dynamics, Harris Corporation, Iridium, L3 Technologies, Rockwell Collins, Viasat, Lockheed Martin, Northrop Grumman, and Raytheon are also contributing in the growth of the market.

Some of the prominent players operating in the military communications market Alcatel, Airbus SAS, BAE Systems plc., General Dynamics Corporation, Collins Aerospace, Harris Corporation, Northrop Grumman Corporation, Lockheed Martin Corporation, Thales Group, and Raytheon Company.

Historical & Forecast Period

This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.

The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.

Research Methodology

The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Military Communication market are as follows:

• Research and development budgets of manufacturers and government spending
• Revenues of key companies in the market segment
• Number of end users and consumption volume, price and value.
• Geographical revenues generate by countries considered in the report
• Micro and macro environment factors that are currently influencing the Military Communication market and their expected impact during the forecast period.

Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.

Key questions answered in this report

• What are the key micro and macro environmental factors that are impacting the growth of Military Communication market?
• What are the key investment pockets with respect to product segments and geographies currently and during the forecast period?
• Estimated forecast and market projections up to 2032.
• Which segment accounts for the fastest CAGR during the forecast period?
• Which market segment holds a larger market share and why?
• Are low and middle-income economies investing in the Military Communication market?
• Which is the largest regional market for Military Communication market?
• What are the market trends and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
• Which are the key trends driving Military Communication market growth?
• Who are the key competitors and what are their key strategies to enhance their market presence in the Military Communication market worldwide?