Growing demand for advanced military communication systems
New York, USA, July 19, 2021 (GLOBE NEWSWIRE) – According to a report published by Research Dive, the global software-defined radio market should register a significant income of $ 16,455.8 Million at a CAGR of 4.4% during the forecast period (2020-2027). The inclusive report provides a brief overview of the current market scenario including significant market aspects such as growth drivers, challenges, restraints, and various opportunities over the forecast period. The report also provides all the market figures which makes it easier and easier for new entrants to understand the market.
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Conductors: Strong demand for protected and secure transmission of confidential data by the defense industry is expected to drive the growth of the global Software Defined Radio market. In addition, military departments are investing more and more money in the implementation of advanced communication systems for better security measures. This is another factor that is expected to improve the growth of the market during the forecast period.
Detention: When installing Software Defined Radio, the organization may be faced with the unwanted consequences of a data breach; this factor is likely to hamper the growth of the market during the analysis period.
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Opportunity: The application of software-defined radios in the commercial sector is expected to create many opportunities for the market in the years to come.
Key market segments
The report has divided the market into different segments based on frequency band, component, platform, end-user, and regional analysis.
Frequency band: the high frequency sub-segment should be the most lucrative
The high frequency sub-segment is expected to generate revenue of $ 7,785.5 million at a CAGR of 4.2% during the forecast period, up from $ 5,618.8 million in 2019. The major Attributed to this growth is the increasing demand for advanced communication systems in the navy. forces, which increases the demand of the high frequency SDR system.
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Component: Issuers sub-segment expected to be the most profitable
The Issuers sub-segment is expected to generate dominant revenues of $ 4,827.1 million in 2027, compared to $ 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 land sub-segment that would be the most advantageous
The land-based sub-segment is expected to achieve revenue of $ 5,276.7 million at a CAGR of 4.6% by 2027, up from $ 3,710.1 million in 2019. Vessel Control Centers freight and passenger use communication devices such as software-defined radio to monitor ships. This factor is expected to improve the growth of the market segment.
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End user: the business sub-segment is expected to be the most profitable
The business sub-segment is expected to hold a leading market share in the global market and register a revenue of $ 10,165.6 million by 2027, compared to $ 7,610.7 million in 2019 with a 3.8% CAGR during the forecast period. Growth in sectors such as aviation and shipping, coupled with the increasing industrial use of communication systems in sectors such as mining, oil and gas, infrastructure is expected to grow the sub- business segment during the forecast period.
Region: North America is expected to dominate the market
the The North America regional market generated revenue of $ 3,733.2 million in 2019 and is further expected to generate revenue of $ 4,981.2 million by the end of 2027.
The advanced defense sector of North American countries is expected to fuel the market growth. Other than that, the United States is known for its annual military spending, more than any other country in the world. These are the factors influencing the growth of the regional market during the analysis period.
Strong demand for airborne sensors in air force is expected to improve the growth of the global airborne sensors market
Key market players
• Northrop Grumman.
• L3Harris Technologies, INC.
• Societe Generale Dynamique
• BAE systems.
• Thales Group
• Leonardo SpA
• Elbit Systems Ltd.
• Rohde & Schwarz
• Texas Instruments Incorporated
In April 2021, Ashland Global Holdings Inc., a U.S. chemical company, completed the acquisition of the personal care business of Schülke & Mayr GmbH, a holding company of the global investment organization EQT. The acquisition is expected to strengthen Ashland’s consumer business portfolio and improve the company’s position in specialty additives while expanding the company’s technical expertise in biotechnology and microbiology.
Market impact analysis of Covid-19
The Covid-19 pandemic has negatively impacted the global software-defined radio market. Blockages across countries have reduced the demand for and manufacture of software-defined radio systems. Software-defined radios are also used in maritime communications and commercial aviation. However, restrictions on travel and the aviation industry have negatively affected the market.
The report also summarizes many important aspects including financial performance of key players, SWOT analysis, product portfolio and latest strategic developments. Click here for a summary report on Top Business Development Strategies.
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