According to a recent analysis by FMI, the market for military communications would grow at an 11% CAGR between 2022 and 2032. By the end of the aforementioned assessment period, a market worth of US$ 110.74 billion is anticipated. Globally, the military sector is seeing a change in dynamics due to the demand for robust connectivity and interoperability. As a result, technology-based services and systems are now being used to improve military communications.
The industry expanded significantly between 2017 and 2021, with a 6% value CAGR and reaching a peak of US$ 35.14 billion. 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, technical evolution and the creation of numerous pieces of equipment are propelling the growth of the military communication market.
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 on 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 a 55% market share in the military communication market in 2022.
- By application, situational awareness is expected to hold 40% market share of the military communication market.
- By end user, land force is expected to hold 45% market share of the military communication market in 2022.
- the U.S. is expected to possess a 45% market share of the military communication market in 2022.
- the U.K. is expected to possess a 40% market share for military communications in 2022.
- India is expected to procure a 35% market share in the 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 the existing navy contract for continued procurement, manufacturing, and delivery of Digital Modular Radios.
- Harris Corporation, a key player in the military communication market is focusing on developing technologically advanced systems that are specially 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 communications market, presenting a historical analysis from 2017 to 2021 and forecast statistics for the period 2022-2032.
The study reveals essential insights based on Components (systems and services), Applications (ISR, Situational Awareness, Command & Control), by End Users (Air Force, Land Force, Naval Force) across five major regions (North America, Latin America, Europe, Asia Pacific, and the Middle East & Africa).