Pune, July 24, 2020 (GLOBE NEWSWIRE) -- The global military antenna market size is projected to reach USD 5.78 billion by the end of 2027. The rising military budget allocations will create several growth opportunities for the companies operating in the market. According to a report published by Fortune Business Insights, titled “Military Antenna Market Size, Share & COVID-19 Impact Analysis, By Frequency (High, Ultra-High, Super High, and Extremely High Frequency), By Type (Dipole, Aperture, Travelling Wave, Loop, and Array Antenna), By Platform (Airborne, Marine, and Ground), By Application (Communication, Surveillance, SATCOM, Electronic Warfare, and Telemetry), and Regional Forecast, 2020-2027,” the market was worth USD 4.89 billion in 2019 and will exhibit a CAGR of 8.61% during the forecast period, 2020-2027.
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List of the Leading Companies Profiled in the Military Antenna Market Research Report are:
- Antcom Corporation (California, the U.S.)
- Cobham PLC (Wimborne Minster, The U.K)
- Comrod Communication AS (Stavanger, Norway)
- Eylex Pty Ltd. (New South Wales, Australia)
- Hascall-Denke (Florida, The U.S.)
- L3Harris Technologies Ltd. (Florida, The U.S.)
- Lockheed Martin Corporation (Maryland, The U.S.)
- MTI Wireless Edge Ltd. (Israel)
- Raytheon Technologies (Connecticut, The U.S.)
- Rohde & Schwarz GmbH & Co KG (Munich, Germany)
- Terma A/S (Aarhus Municipality, Denmark)
- Other Players
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Coronavirus Outbreak has Compelled Several Countries to Prioritize Healthcare Budgets over Defense
The recent coronavirus outbreak has created a sense of panic across the world. Due to the rapid spread of the disease, governments across several countries have decided to allocate more budgets to the healthcare sector than the defense sector. The constant research and development activities to minimize the spread of the disease as well as development efficient treatment options, has influenced this decision. As a result, the reductions in budget allocations for military and defense applications will have an adverse effect on the growth of the military antenna market in the coming years.
Military antennas are used in several communication applications in the military and defense sector. A military antenna system is used to convert radio frequency waves into alternating current and vice versa for receiving and transmission process. The massive investments in the development and deployment of efficient military antennas are consequential to the degree of sensitivity and risks involved with the communication in this sector.
Accounting to this, the military organizations of several countries across the world are looking to collaborate with tech-companies. It is observed that company mergers and collaborations are an increasing trend among major companies across the world. The increasing number of company collaborations will subsequently affect the growth of the overall market in the coming years. Additionally, the rising awareness regarding the importance of integrating high-quality products and devices in military applications will bode well for market growth.
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Increasing Number of Company Mergers and Acquisitions will Aid Growth
The report encompasses several factors that have contributed to the growth of the market in recent years. Among all factors, the increasing number of company mergers and acquisitions has made the highest impact on the growth of the overall market in recent years. Accounting to the massive investments in technological intervention by several companies, defense organizations are looking to collaborate with these tech companies. In May 2020, Raytheon Technologies announced that it has bagged a contract from the US Navy for development and assembly of planar antennas. Through this contract, the company will assemble planar array antennas as well as develop spare parts for the same. The company will also provide assistance for engineering related issues; a factor that will come under the repair and maintenance part. This collaboration will not just help the company generate huge revenue, but will also have a direct impact on the growth of the global market.
North America Likely to Emerge Dominant; Increasing Defense Expenditure will Provide Impetus to Market Growth
The report analyses the latest market trends across five major regions, including North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. Among all regions, the market in North America is projected to emerge dominant in the coming years. The rising defense budget allocations, especially in the United States, have made a positive impact on the growth of the regional market. Additionally, the presence of several large scale tech-companies involved in manufacturing of military antennas will constitute an increase in the overall market size. As of 2019, the market in North America was worth USD 1.84 billion and this value will rise considerably in the coming years. The market in Asia Pacific will derive growth from the rising defense spending by leading countries such as India and China.
Industry Developments:
May 2020 –Isotropic Systems announced that it has bagged a contract for evaluation & development of antenna by the U.S. Defense Innovation Unit. Through this contract, the company will focus on the delivery of low-profile, affordable, high performance, and customizable antenna to support multiple links over multiple bands of satellite capacity, including S, C, Ka, Ku, X, and Q-band connectivity.
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Detailed Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Key Industry Developments – Key Contracts & Agreements, Mergers, Acquisitions and Partnerships
- Latest technological Advancements
- Porters Five Forces Analysis
- Supply Chain Analysis
- Quantitative Insights - Impact of COVID-19 Pandemic on Global Military Antenna Market
- Impact of COVID-19 on Global Military Antenna Market
- Steps Taken by Industry/Companies/Governments to Overcome the Impact
- Potential Opportunities Due to COVID-19 Outbreak
- Key Development Post CVOVID-19 Pandemic
- Global Military Antenna Market Analysis, Insights and Forecast, 2016-2027
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Frequency
- High Frequency
- Ultra-High Frequency
- Super High Frequency
- Extremely High Frequency
- Market Analysis, Insights and Forecast – By Type
- Dipole Antenna
- Aperture Antenna
- Travelling Wave Antenna
- Loop Antenna
- Array Antenna
- Market Analysis, Insights and Forecast – By Application
- Communication
- Surveillance
- SATCOM
- Electronic Warfare
- Telemetry
- Market Analysis, Insights and Forecast – By Platform
- Airborne
- Marine
- Ground
- Market Analysis, Insights and Forecast – By Region
- North America
- Europe
- Asia Pacific
- Rest of the World
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