Detroit, Oct. 29, 2024 (GLOBE NEWSWIRE) -- The global tactical radio market is projected to witness a growth rate of 6.0% annually from 2024 to 2030, with an anticipated size of US$ 11.2 billion by 2030, according to an analysis by Stratview Research.
Stratview Research, a global market research firm has launched a report on the global tactical radio market which provides a comprehensive outlook of the global and regional industry forecast, current & emerging trends, segment analysis, competitive landscape, & more.
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Report Highlights
| Market Size in 2030 (billion US$) | 11.2 |
| Growth (CAGR) | 6.0% during 2024-2030 |
| Forecast Period | 2024-2030 |
| Trend Period | 2018-2022 |
| Base Year | 2023 |
| Number of Segments Covered | 4 |
| Number of Tables & Graphs | 100+ |
| Country-Level Market Assessment | 20 |
Segment Insights on the Tactical Radio Market:
The global tactical radio market is segmented based on platform type, frequency type, product type, and region.
Based on platform type - The market is bifurcated into ground-based, naval-based, and airborne platforms. The ground-based platform is expected to remain dominant whereas the airborne platform will be the fastest-growing platform of the market during the forecast period. Moreover, with the increasing terror threats and border disputes, the demand for ground tactical radios is expected to intensify. For example, in the ongoing Russia-Ukraine war, the Russian military was reportedly using the Chinese-manufactured BaoFeng UV-82HP tactical radios for communication with their military personnel, who were stationed in Ukraine.
Based on the frequency type – The market is segmented into HF, VHF/UHF, and VHF/UHF with SATCOM. VHF/UHF is likely to remain the dominant and fastest-growing frequency of the market during the forecast period. They serve as a reliable source of two-way communication. Similarly, HF tactical radios are generally used for long-range communication, but due to the limited availability of frequency and low bandwidth capacity, they are not used as broadly as their VHF/UHF counterparts. Also, the demand for VHF/UHF radios with SATCOM is quite low as compared to that of HF and VHF/UHF radios as they are quite expensive.
Based on the product type - The market is classified as fixed tactical radios and deployed tactical radios. Deployed Radio is expected to remain the dominant and fastest-growing product during the forecast period. With the increasing demand for effective communication for military personnel (armed forces, air forces, and naval forces) on the move, the deployed tactical radios have gained prominence. The air-to-ground tactical radios, in particular, have witnessed a large demand in recent years to ensure proper multi-domain interoperability.
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Which Region Shows the Most Promising Growth Forecast and Opportunity?
The analysis suggests that North America is expected to remain the largest market during the forecast period. This growth outlook is majorly attributed to the following–
- This is mostly due to the large investments made by the US DoD in tactical radios with the companies: L3 Harris Technologies, Inc., Collins Aerospace, BAE Systems, and Elbit Systems Ltd. Moreover, the US is the largest military spender globally, accounting for more than 1/3rd of the total share.
- In addition, major players in the market have their presence or are headquartered in the US.
Likewise, the Asia-Pacific is expected to witness the fastest growth in the global tactical radio market during the forecast period. The key factors responsible for the swift growth are increased demand for tactical radios by the military forces and a rise in overall military expenditure (especially in China and India).
Tactical Radio Market Drivers:
Some of the key drivers listed in the report are given below.
- The rising military expenditure in recent times along with the increasing radio modernization expenses and growing geopolitical risks, across the globe.
- Increasing number of global military operations.
Top 10 Companies in the Tactical Radio Market:
There is stiff competition in the tactical radio market. The growth of the companies is directly dependent on industry conditions and government support. The companies differentiate their tactical radio offerings on the basis of their quality and their penetration in the target and emerging markets. These companies have an excellent brand identity, exceptional product development capabilities, vast product offerings, a large customer base, and a wide geographical reach. Stratview Research has identified the following companies as the top market players (arranged alphabetically).
- ASELSAN A.S.
- BAE Systems
- Collins Aerospace
- Elbit Systems Ltd.
- General Dynamics Corporation
- L3Harris Technologies, Inc.
- Leonardo DRS
- Northrop Grumman
- Rohde & Schwarz
- Thales Group
What Deliverables Will You Get in this Report?
| Key questions this report answers | Relevant contents in the report |
| How big is the sales opportunity? | In-depth analysis of the Tactical Radio Market |
| How lucrative is the future? | Market forecast and trend data and emerging trends |
| Which regions offer the best sales opportunities? | Global, regional, and country-level historical data and forecasts |
| Which are the most attractive market segments? | Market segment analysis and forecast |
| Who are the top players and their market positioning? | Competitive landscape analysis, Market share analysis |
| How complex is the business environment? | Porter’s five forces analysis, PEST analysis, Life cycle analysis |
| What are the factors affecting the market? | Drivers & challenges |
| Will I get the information on my specific requirements? | 10% free customization |
For Customization or Any Other Queries, Get in Touch with Our Industry Experts at - sales@stratviewresearch.com
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