DUBLIN, January 24, 2022--(BUSINESS WIRE)--The "Global Tactical Communication Market to 2031 - Market Size, Share, Trends Analysis, Competitive Landscape and Strategic Insights" report has been added to ResearchAndMarkets.com's offering.
The global tactical communication market is valued at $13.1 billion in 2021 and will grow at a CAGR of 3.68% to reach a value of $18.8 billion by 2031.
The cumulative market for global tactical communication is anticipated to value $161.1 billion over the forecast period. The expenditure on this sector is anticipated to be driven by the changing warfare scenario from conventional to asymmetric warfare which necessitates sustained investment in the domain to ensure network centricity and a parallel adoption of modern networking capabilities.
Factors such as coordination with allies, situational awareness of warfighters, and constant information relay with the base stations and associated platforms only augment the demand for improved communication systems.
The US, being the major contributor in the region, is focusing on modernizing its tactical communication networks to increase capabilities such as command post mobility, cyber security, and secure wireless communications by incorporating advanced technologies.
The European market will follow the North America market and is projected to account for 28.3% of the global tactical communication market over the forecast period.
Driven by large scale procurement as well as upgrade programs that are being undertaken by several nations across the world, the platform-based segment is expected to increase at a considerable pace in the global market over the forecast period.
The global tactical communication market is expected to grow at a CAGR of 3.68% over the forecast period.
The global tactical communication market is classified across three major categories; platform-based, stationary and man-portable.
The global tactical communication market is expected to be led by North America with a revenue share of 44.3%. The region's significant share is primarily due to high demand from the US for tactical communication equipment.
The rapid advancement in tactical communication technology, primarily led by US military contractors, has led to the development of several powerful, lightweight and cost-effective systems, offering a range of mission critical capabilities to the US military.
Platform-based tactical communication is expected to be the largest segment of the overall tactical communication market over the forecast period.
Market size and drivers: Detailed analysis during 2021-2031, including highlights of the demand drivers and growth. It also provides a snapshot of the spending and modernization patterns of different regions around the world.
Recent developments and industry challenges: Insights into technological developments and a detailed analysis of the existing tactical communication projects being executed and planned worldwide. It also provides trends of the changing industry structure and the challenges faced by industry participants.
Regional highlights: study of the key markets in each region, providing an analysis of the key segments of the market that are expected to be in demand.
Major programs: details of the key programs in each segment, which are expected to be executed during 2021-2031.
Competitive landscape and strategic insights: Analysis of competitive landscape of the global tactical communication market. It provides an overview of key players, their strategic initiatives, and financial analysis.
Reasons to Buy
Determine prospective investment areas based on a detailed trend analysis of the global tactical communication over the next ten years
Gain in-depth understanding about the underlying factors driving demand for different tactical communication segments in the top spending countries across the world and identify the opportunities offered by each of them
Strengthen your understanding of the market in terms of demand drivers, industry trends, and the latest technological developments, among others
Identify the major channels that are driving the global tactical communication market, providing a clear picture about future opportunities that can be tapped, resulting in revenue expansion
Channelize resources by focusing on the ongoing programs that are being undertaken by the defense ministries of different countries within the global tactical communication market
Make correct business decisions based on in-depth analysis of the competitive landscape consisting of detailed profiles of the top tactical communication equipment providers around the world. The company profiles also includes information about the key products, alliances, recent contract awarded, and financial analysis, wherever available
Cubic Defense Applications
Data Link Solutions
For more information about this report visit https://www.researchandmarkets.com/r/7hqham
View source version on businesswire.com: https://www.businesswire.com/news/home/20220124005663/en/
Laura Wood, Senior Press Manager
For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900