Military Communication Market Size, Growth | Report, 2029
Military Communications Market size touched USD 36.2 billion in 2021 and is projected to reach USD 64.6 billion in 2029 growing at a CAGR of 7.5% during 2022-2029
The factors driving the growth of Military Communications Market includes growing demand for cellphones and satellite-based equipment, rise in the volume of IP-based data commercialization of 5G technology, proliferation of IoT based communication devices and increase in Government’s expenditure on the defense sector. According to the report published by Trading Economics, India’s expenditure on the Military sector is expected to increase from USD 63151.02 million in 2023 to USD 65107.33 million during FY 2024, which will accelerate the Global Military Communications Market in the approaching years. Moreover, increasing deployment of 5G networks around the world, technological advancements in military communication devices, growing number of defense-based start-ups, rise in the launch of innovative products and rapid urbanization, are some of the additional factors supplementing the Military Communications Market size. In addition, the increasing investments by major companies on research and development, rising disposable incomes and growing population growth rates, are further contributing towards the market growth.
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However, growth of the Military Communications Market is hindered due to high cost of military communication systems.
The leading players operating in the market are Lockheed Martin Corporation, Northrop Grumman Corporation, Raytheon Technologies Corporation, BAE Systems Plc, ASELSAN A.S., L3Harris Technologies, Inc., Cobham Limited, Elbit Systems Ltd., General Dynamics Corporation, and Thales Group among others.
Based On Component, the Satellite Communication Systems segment is predicted to grow at a significant CAGR during the forecast period
Increasing demand for satellite communication components such as broadcast service and personal communications service for conducting remote facility monitoring and supporting offshore exploration projects, are some of the factors responsible for the segment’ s growth.
Based on End-User, the Land Force segment is projected to expand at a faster CAGR over the forecast period
Rising demand for ground-based communications systems such as Mobile Satellite Service (MSS) and military Satellite Communication, are propelling growth of the segment.
Based on Region, the North American region is anticipated to grow at a remarkable CAGR during the forecast period
Presence of the leading players such as L3Harris Technologies, Inc., Lockheed Martin Corporation and, Raytheon Technologies Corporation, penetration of IoT based communication devices, rapid industrialization, increasing population growth rates and high per capita incomes, are some of the important factors augmenting the market growth in the North American region.
Key Development
In 2020, BAE Systems Plc acquired Collins Aerospace Military Global Positioning System (GPS) business from Raytheon Technologies Corporation. This acquisition is expected to enhance the BAE Systems Electronic Systems portfolio with the addition of GPS anti-jamming and anti-spoofing technology, which enables navigation and guidance for a range of defense missions.
Market Segmentation
Segmentation by Component
Systems
Satellite Communication Systems
Radar & Sonar Systems
Radio Systems
Services
Segmentation by Application
ISR
Situational Awareness
Command & Control
Others
Segmentation by End-User
Air Force
Land Force
Naval Force
Segmentation by Region
Asia Pacific
China
Japan
India
Rest of APAC
North America
United States of America
Canada
Europe
United Kingdom
Germany
France
Spain
Rest of Europe
RoW
Brazil
South Africa
Saudi Arabia
UAE
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