Market Dynamics and Factors:
Increase in the demand for lightweight and small military handheld radio is identified as one of the major drivers for the growth of the global defence tactical radio market. In addition, an increase in the significance of effective communication along with application in various sectors, such as government and public safety and rise in demand for wireless communication that helps in providing secured and noise free information to the end user is also propelling the growth of the market. However, the shortage of limited channel capability and spectrum are responsible to restrain the market growth. Furthermore, growing demand for tactical radio in the emerging market coupled with the positive approach of government by investing in telecommunication sector creates opportunities for the market growth. The susceptibility to hacking by enemies is considered to be the challenge for market.
Based on type, the global defence tactical radio market is classified into handheld, and vehicle-mounted. By application, the market is categorized into special operation force (SOF), army, navy, and air force. Geographic breakdown and analysis of each of the aforesaid segments includes regions comprising North America, Europe, Asia-Pacific, and RoW.
North America is responsible for the highest revenue share with approximate 39.71% to the defence tactical radio market in 2019, due to rise in adoption of electronic-based systems and high military expenditure across the defence sectors. In the U.S. market, army segment includes an initiative for direct army radio communication with allied forces was the highest contributor and estimated to reach USD 1,813.4 million by upcoming period. The growing number of conflicts in Asia Pacific is driving the need for the deployment of SOF will continue to increase due to the enhanced features of military radio communication equipment. In Latin America, increasing need for communication among troops and the base centre is expected to dominate the market during the forecast period. The Middle East & Africa are projected to witness substantial growth over the forecast period.
The key players of global defence tactical radio markets BAE Systems, Inc., Codan Limited, Barrett Communications Pty. Ltd, Cobham plc., General Dynamics Corporation, Harris Corporation, Leonardo S.p.A, Raytheon Company, Rockwell Collins, Inc., and Thales S.A.