New York, USA, July 19, 2021 (GLOBE NEWSWIRE) -- According to a report published by Research Dive, the global software defined radio market is projected to register a significant revenue 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 scenario of the market including significant aspects of the market such as growth factors, challenges, restraints, and various opportunities during the forecast period. The report also provides all the market figures making it easier and helpful for the new participants to understand the market.
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Dynamics of the Market
Drivers: The high demand of protected and secure transmission of confidential data by the defense sector is expected to boost the growth of the global software defined radio market. Moreover, military departments are investing more and more money in implementing advanced communication systems for better security measures. This is another factor expected to enhance the growth of the market during the forecast period.
Restraint: In the time of installation of software defined radio, the organization may confront unwanted consequences of data breach; this factor is likely to hinder the growth of the market during the analysis period.
Check out How COVID-19 impacts the Global Software Defined Radio Market: https://www.researchdive.com/connect-to-analyst/8396
Opportunity: Application of software defined radios in the commercial sector is expected to create many opportunities for the market in upcoming years.
Key Segments of the Market
The report has divided the market into different segments based on frequency band, component, platform, end-user, and regional analysis.
Frequency Band: High Frequency Sub-Segment Expected to be the Most Lucrative
The high frequency sub-segment is expected to garner a revenue of $7,785.5 million at a CAGR of 4.2% during the forecast period, increasing from $5,618.8 million in 2019. The main attributor behind this growth is the rising demand of advanced communication systems in the naval forces, which boosts the demand of high-frequency SDR system.
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Component: Transmitter Sub-Segment Expected to be the Most Profitable
The transmitter sub-segment is predicted to garner a dominating revenue of $4,827.1 million in 2027, increasing from $3,529.9 million in 2019 during the analysis period. The increasing demand of transmitters in industries such as automobile communication systems, telecommunication, satellite communication, and others.
Platform: The Land Sub-Segment Predicted to be the Most Beneficial
The land sub-segment is expected to record a revenue of $5,276.7 million at a CAGR of 4.6% by 2027, increasing from $3,710.1 million in 2019. The cargo and passenger vessel control centers use communication devices such as software defined radio for monitoring the vessels. This factor is expected to enhance the growth of the market segment.
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End-User: Commercial Sub-Segment Expected to be the Most Profitable
The commercial sub-segment is projected to have a leading market share in the global market and register a revenue of $10,165.6 million by 2027, rising from $7,610.7 million in 2019 with a CAGR of 3.8% during the forecast timeframe. The growth in the sectors such as aviation and shipping coupled with the increasing industrial utilization of communication systems in industries such as mining, oil & gas, infrastructure is expected to grow the commercial sub-segment in the forecast period.
Region: North America Expected to Dominate the Market
The state-of-the-art defense sector of the North American countries is expected to fuel the growth of the market. Apart from this, the U.S. is known for its military expenditure on a yearly basis which is more than any other countries in the world. These are the factors influencing the growth of the regional market during the analysis period.
Key Players of the Market
• Northrop Grumman.
• L3Harris Technologies, INC.
• General Dynamics Corporation
• BAE Systems.
• Thales Group
• Leonardo S.p.A.
• Elbit Systems Ltd.
• Rohde & Schwarz
• Texas Instruments Incorporated
In April 2021, Ashland Global Holdings Inc., an American chemical company, completed the acquisition of the personal care business from Schülke & Mayr GmbH, a portfolio company of the global investment organization EQT. The acquisition is expected to strengthen the consumer business portfolio of Ashland and enhances the company’s specialty additives position while expanding the company’s biotechnology and microbiology technical competencies.
Impact Analysis of Covid-19 on the Market
The Covid-19 pandemic has impacted the global software defined radio market in a negative way. The lockdowns across nations have decreased the demand and manufacturing of software defined radio systems. Software defined radios are also used in maritime communications and commercial aviation. However, the restrictions on travel and aviation industry has negatively affected the market.
The report also summarizes many important aspects including financial performance of the key players, SWOT analysis, product portfolio, and latest strategic developments. Click Here to Get Absolute Top Companies Development Strategies Summary Report.
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