Rising Demand of Advanced Military Communication Systems
New York, USA, July 19, 2021 (GLOBE NEWSWIRE) – According to a report published by Research Dive, global software defined radio market is expected to register significant revenue from $ 16,455.8 million at a CAGR of 4.4% over the forecast period (2020-2027). The inclusive report provides a brief overview of the current market scenario, including important aspects of the market, such as growth factors, challenges, constraints and various opportunities over the forecast period. The report also provides all market data, which facilitates and helps new entrants to understand the market.
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Drivers: The strong demand for secure and secure transmission of confidential data from the defense sector is expected to stimulate the growth of the global software radio market. In addition, the military is investing more and more money in implementing advanced communication systems for better security measures. This is another factor that is expected to boost market growth over the forecast period.
Restraint: During the installation of a software-specific radio, the organization may face the undesirable consequences of data breaches; this factor is likely to hamper market growth during the analysis period.
See how COVID-19 affects the global software-defined radio market: https://www.researchdive.com/connect-to-analyst/8396
Opportunity: The application of software radios in the commercial sector is expected to create many market opportunities in the coming years.
Key market segments
The report has divided the market into different segments based on frequency range, component, platform, end user and regional analysis.
Frequency range: High frequency sub-segment that is expected to be the most profitable
The high-frequency sub-segment is expected to earn revenue of $ 7,785.5 million at CAGR of 4.2% over the forecast period, increasing from $ 5,618.8 million in 2019. The main factor for this growth is the growing demand for modern communications systems in the Navy forces, which increases the demand for high-frequency SDR system.
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Component: The transmitter sub-segment is expected to be the most profitable
The transmitter sub-segment is projected to dominate revenue of $ 4,827.1 million in 2027, increasing from $ 3,529.9 million in 2019 during the analysis period. The growing demand for transmitters in industries such as automotive communication systems, telecommunications, satellite communications and others.
Platform: The Earth sub-segment is expected to be the most profitable
The terrestrial sub-segment is expected to record revenue of $ 5,276.7 million at the CAGR of 4.6% by 2027, up from $ 3,710.1 million in 2019. Cargo and Passenger Ship Control Centers use communication devices such as software-defined vessel monitoring radio. This factor is expected to boost market segment growth.
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End User: The trading sub-segment is expected to be the most profitable
The trading sub-segment is expected to have a leading market share in the global market and to record revenues of $ 10,165.6 million by 2027, growing from $ 7,610.7 million in 2019 with a CAGR of 3.8% during the forecast period. Growth in sectors such as aviation and shipping, combined with the growing industrial use of communication systems in industries such as mining, oil and gas, infrastructure, is expected to increase the trade sub-segment over the forecast period.
Region: North America, which is expected to dominate the market
North America’s state-of-the-art defense sector is expected to stimulate market growth. Apart from that, the United States is known for its military spending on an annual basis, which is higher than any other country in the world. These are the factors influencing the growth of the regional market during the analysis period.
Key market players
• Northrop Grumman.
• L3Harris Technologies, INC.
• General Dynamics Corporation
• BAE systems.
• Thales Group
• Leonardo SpA
• Elbit Systems Ltd.
• Rohde & Schwarz
• Texas Instruments Incorporated
In April 2021, Ashland Global Holdings Inc., an American chemical company, completed the acquisition of the personal care business from Schülke & Mayr GmbH, a portfolio of the global investment organization EQT. The acquisition is expected to strengthen Ashland’s consumer business portfolio and improve the company’s positioning of special additives, while expanding the company’s technical technologies in biotechnology and microbiology.
Analysis of the impact of Covid-19 on the market
The Covid-19 pandemic has negatively affected the global software radio market. Locks in different countries have reduced the demand and production of software-specific systems. Software-defined radios are also used in maritime communications and commercial aviation. However, travel restrictions and the aviation industry have had a negative impact on the market.
The report also summarizes many important aspects, including financial performance of key players, SWOT analysis, product portfolio and the latest strategic developments. Click here to get a summary of the absolute best company development strategies.
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