https://www.fortunebusinessinsights.com/military-communications-market-102696

Top Trends in Military
Communications Market Size
and Forecast 2024–2032
The global military communications market size is anticipated to
reach USD 60.40 billion by 2029 and exhibit a CAGR of 7.2% during
the forecast period. The rising adoption of wireless communication
technology for various military applications is expected to boost the
growth of the market.

Fortune Business InsightsTM has presented this information in
its report titled, “Military Communications Market, 2024–
2032”. The market size stood at USD 10.11 billion in 2022 and USD
10.43 billion in 2023.
Additionally, the increasing adoption of satellite communication
technology or SATCOM technology is anticipated to be a key trend
stimulating market growth.
List of Key Market Players-
 ASELSAN A.S. (Turkey)
 Cobham PLC (U.K.)
 General Dynamics Corporation (U.S.)
 Honeywell International Inc. (U.S.)
 Iridium Communications Inc. (U.S.)
 L3Harris Technologies Inc. (U.S.)
 Lockheed Martin Corporation (U.S.)
 Northrop Grumman Corporation (U.S.)
 Raytheon Technologies Inc. (U.S.)
 Rohde & Schwarz (Germany)
 Thales Group (France)

https://www.fortunebusinessinsights.com/military-communications-market-102696


https://www.fortunebusinessinsights.com/military-communications-market-102696

 Viasat Inc. (U.S.)
 BAE Systems PLC (U.K.)
Information Source-
https://www.fortunebusinessinsights.com/military-
communications-market-102696
Segments-
On the basis of component, the market is bifurcated into software
and hardware. On the basis of technology, the market is segmented
into data link, HF communication, VHF/UHF/L-Band, and
SATCOM. On the basis of platform, the market is fragmented into
space, naval, ground, and airborne. On the basis of application, the
market is bifurcated into Intelligence, Surveillance, and
Reconnaissance (ISR), command & control, situational awareness,
routine operations, and others. Geographically, the market is
classified into Europe, North America, Asia Pacific, and the Rest of
the World.
Report Coverage-
 It offers a holistic market assessment that includes information
on different market segments such as technology, components,
platform application, and others.
 It includes a detailed analysis of the COVID-19 pandemic’s
impact on the market.
 It highlights various strategies adopted by major market players
to acquire growth.
 It showcases the latest industry developments.
 It highlights market’s growth assessed according to different
geographical regions, North America, Europe, Asia Pacific, and
the Rest of the World.
Drivers & Restraints-
Increasing Adoption of Wireless Communication
Technology for Several Military Application to Propel
Market Growth
Maintaining consistent communication and protecting highly
confidential data are the utmost requirements across the defense
sector. This is necessary to ensure public safety else the safety of
citizens might be at risk. Moreover, investments in the defense
sector are increasing due to growing cross-border disputes and
terrorism. These factors are likely to boost the adoption of advanced
systems for improved security and safety and bolster the military
communications market growth.
The increasing adoption of evolving communication technologies
such as ultra-high-frequency, very high-frequency, and SATCOM to
replace conventional wired systems is likely to benefit the market
growth. Moreover, the growing demand for upgraded
communication systems, aerial surveillance vehicles, and advanced
battlespace management systems is likely to augment the product
adoption.
However, high initial development costs may hinder the market
growth.
Regional Insights-
Presence of Key Players to Foster Growth in North
America
North America is projected to gain the largest military
communications market share. The presence of pioneer
communication equipment and system manufacturers such as
Honeywell International Inc., Raytheon Company, Collins
Aerospace, Northrop Grumman Corporation, and others is likely to
be a key factor driving the region’s market growth.
Europe is anticipated to rank second in the global market. The
increasing defense expenditures across Germany, France, and the
U.K., coupled with the presence of key naval and airborne
communication solution providers, such as Cobham PLC and Thales
Group, are expected to fuel the region’s market growth.
Asia Pacific is likely to register robust growth in the forthcoming
years. The rising commercial aircraft deliveries across developing
nations such as China and India and the increasing adoption of
network-centric warfare are expected to bolster the market growth
in Asia Pacific.
The Rest of the World is estimated to exhibit considerable growth
due to increasing defense budgets across Israel, Saudi Arabia, Brazil,
and other countries.
Competitive Landscape-
Key Players Adopt Various Inorganic & Organic Strategies
to Capture Growth
The marketplace is highly competitive with the presence of leading
market players such as Raytheon Technologies Inc., Northrop
Grumman Corporation, L3Harris Technologies Inc., and others. The
major market players adopt inorganic and organic growth strategies,
including technological advancements, contracts, partnerships,
acquisitions, and others to amplify their revenues. For instance,
Thales Group launched the new Javelin Combat Net Radio in
January 2021 to facilitate tactical command and control (C2)
communications in military formations.
Industry Development-
In March 2024, the U.S. Space Force awarded Boeing a $439.6
million contract to manufacture the WGS-12 military
communications satellite. The Ministry of Defense announced the
contract signing on March 1. WGS-12 marks the 12th satellite in the
Wideband Global Satcom (WGS) geostationary constellation,
delivering critical communications services to the U.S. and its allied
partners.