The replacement of aging technology with more advanced equipment, the introduction of digital communications, and an increase in defense expenses in developing countries such as China, India, and South Korea are some of the major factors that fuel the growth of the military communications market.
In addition, growth in investments by governments across the globe in the defense sector and emphasis on providing network-centric and data-centric communications further drive the growth of the market.
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However, high cost involved in the deployment of new technologies hampers military communications market growth. Furthermore, adoption of advanced technologies like KA-band satellite for communication services are anticipated to provide major opportunities for the market.
Various governments are increasingly focusing on advanced communication technologies for enhanced operational efficiency to improve security and digital communication capabilities. Use of smart devices and sensors in the defense sector is likely to provide revenue generation opportunity and increase the growth of military communications market share.
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The military communications market is segmented into component, communication type, application, end-user, and region. Based on component, it is bifurcated into Very Small Aperture Terminal (VSAT), Fleet Satellite Communications System (FLTSATCOM), Mobile Satellite Service (MSS), and Military Strategic and Tactical Relay (MILSTAR).
In terms of communication type, it is segmented into shipborne, ground-based, underwater, air-ground, and airborne communication. By application, it is categorized into command and control, routine operations, situational awareness, and others. As per end-user, it is classified into land forces, naval forces, and air forces. Region-wise, the military communications market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The key players profiled in the military communications market analysis are Northrop Grumman Corporation, ASELSAN A.?, BAE Systems, Lockheed Martin Corporation, Thales Group, Collins Aerospace, Raytheon Company, TCL Communication General Dynamics Corporation, and Harris Corporation.
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KEY BENEFITS FOR STAKEHOLDERS
- The study provides an in-depth analysis of the market along with the current military communications market trends and future estimations to elucidate the imminent investment pockets.
- Information about the key drivers, restraints, and opportunities and their impact analysis on the market size is provided.
- Porter’s five forces analysis illustrates the potency of buyers and suppliers operating in the military communications industry.
- A quantitative analysis of the military communications market size from 2019 to 2026 is provided to determine the market potential.
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