According to a recent analysis by FMI, from 2022 to 2032, the market for military communications would grow at an 11% CAGR. Market valuation is projected to be US$ 39 billion in 2022 and US$ 110.74 billion in 2032. The dynamics of the military sector are shifting globally due to the demand for robust connectivity and interoperability. As a result, military communications have been improved by leveraging technology-based services and systems.
The sector grew noticeably between 2017 and 2021, concluding at US$ 35.14 billion and registering a 6% value CAGR.
The market is expanding due to the prevalence of armed conflicts, the requirement for constant awareness, and the rising demand for connectivity on the battlefield. Additionally, the development of numerous equipment and technological breakthroughs are fueling the expansion of the market for military communications.
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The market for military communications is being shaped by the development of 5G networks, artificial intelligence, and machine learning. It is being researched and developed how to provide technologically advanced communications for the land, navy, and air forces. In turn, it is anticipated that this would help the market expand.
Key Takeaways from the Market Study
- By component, systems are expected to possess 55% market share for military communication market in 2022.
- By application, situational awareness is expected to hold 40% market share for military communication market.
- By end user, land force is expected to hold 45% market share for military communication market in 2022.
- S. is expected to possess 45% market share for military communication market in 2022.
- K. is expected to possess 40% market share for military communications in 2022.
- India is expected to procure 35% market share for military communications market in 2022.
Market Competition
Key players in the military communications market are General Dynamics Corporation, Airbus S.A.S., QinetiQ Group PLC, BAE Systems PLC, Northrop Grumman Corporation, Rockwell Collins Inc., Lockheed Martin Corporation, Raytheon Company, Thales Group and Harris Corporation
- In May 2022, General Dynamics Corporation was awarded a US$ 49.9 Million contract modification under existing navy contract for continued procurement, manufacturing, delivery of Digital Modular Radios.
- Harris Corporation, a key player in the military communication market is focusing on developing technologically advanced systems that are especially designed for military forces. These systems will help military forces to improve connectivity on a larger scale.
More Insights Available
- FMI, in its new offering, presents an unbiased analysis of the global military engineering market, presenting historical analysis from 2017 to 2021 and forecast statistics for the period of 2022-2032.
- The study reveals essential insights on the basis of Components (systems and services), by Applications (ISR, Situational Awareness, Command & Control), by End User (Air Force, Land Force, Naval Force) across five major regions (North America, Latin America, Europe, Asia Pacific and Middle East & Africa).
Key Segments Profiled in the Military Communications Market Industry Survey
Military Communications by Component:
Military Communications by Systems
- Satellite Communication Systems
- Radar & Sonar Systems
- Radio System
Military Communications by Services
- Consulting
- Testing & Integration
- Support & Maintenance
Military Communications by Applications:
- Military Communications by ISR
- Military Communications by Situational Awareness
- Military Communications by Command & Control
Military Communications by End User:
- Military Communications by Air Force
- Military Communications by Land Force
- Military Communications by Naval Force
Region:
- North America Military Communications Market
- Latin America Military Communications Market
- Western Europe Military Communications Market
- Eastern Europe Military Communications Market
- South East Asia and others of Asia Pacific Military Communications Market
- China Military Communications Market
- Japan Military Communications Market
- Middle East & Africa (MEA) Military Communications Market
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About Future Market Insights, Inc.
Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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