Global Military Radio System Market Information by Type (Manpack Radios, Vehicular Radios), By End-User (Marines and Ground Forces) And Region – Forecast To 2023
The military radio system market is expected to grow significantly, during the forecast period, owing to rapid advancements in the handheld product segment, and technologies such as the software defined radios (SDR). The gradual increase in the defense budgets along with the growing military exercises and operations, of several countries, would result in the growth of the market. During military exercises, there is immense need for confidential, secure, and fast communication flow, which can be effectively carried out with the use of military radio systems. The market is also expected to grow with the increasing use of radio systems in surgical strikes, and residential military areas, and others.
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Of all the types of military radio systems, the vehicular radio segment is expected to grow significantly, during the forecast period. The vehicle mounted devices, also known as the mobile two-way radios, help in establishing a safer and reliable communication link within a local area, city or even a battlefield. The vehicular radio systems ensure effective communication and data transfer among the troops stationed in and around a battlefield. Such attributes drive the growth of the segment, during the forecast period.
Amongst all regions, the Asia-Pacific region is expected to grow at the highest CAGR, during the forecast period, owing to factors such as the increasing deployment of 3G, 4G, and LTE networks and the increase in investments by the governments of the developing nations such as India, China, Japan, South Korea, and others in the defense sector.
Military radio systems are also used for a wide range of applications such as inter-vehicle communications, dismounted operations, perimeter security, and maritime communications.
Therefore, the global military radio system market is projected to grow at a CAGR of over 7%, during the forecast period.
The key players of global military radio system market include BARRETT Communications (Australia), Leonardo S.p.A. (Italy), Harris Corporation (U.S.), Radmor S.A. (Poland), Thales Communications & Security S.A.S (France), Codan Limited (Australia), Elbit Systems Ltd. (Israel), FLIR Systems (U.S.), Safran S.A. (France), and Selex ES (Italy).
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