Pune, India, Dec. 06, 2023 (GLOBE NEWSWIRE) -- The global software defined radio market size is expected to showcase significant growth by reaching USD 16.20 billion by 2028. Fortune Business Insights™ in its report, titled “Software Defined Radio Market, 2023-2028.”, mentions that the market stood at USD 12.45 billion in 2020 and is projected to exhibit a CAGR of 5.3% between 2023 and 2028.
The growing demand for advanced communication systems across several military applications and the increasing adoption of modern communication solutions over conventional solutions will propel the demand for the product during the foreseeable future.
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List of the Companies Operating in the Software Defined Radio Market:
- BAE Systems PLC (The U.K.)
- Northrop Grumman Corporation (The U.S.)
- Raytheon Technologies Corporation (The U.S.)
- Elbit Systems Ltd. (Israel)
- Thales Group S.A. (France)
- L3Harris Technologies, Inc. (The U.S.)
- General Dynamics Corporation (The U.S.)
- Viasat, Inc. (The U.S.)
- Leonardo S.p.A. (Italy)
- Rohde & Schwarz GmbH & Co. KG (Germany)
Report Scope & Segmentation:
| Report Coverage | Details |
| Forecast Period | 2023-2028 |
| Forecast CAGR | 5.3% |
| 2028 Value Projection | USD 16.20 Billion |
| Market Size in 2021 | USD 11.60 Billion |
| Historical Data | 2017-2019 |
| No. of Pages | 200 |
| Report Coverage | Revenue Forecast, Company Profiles, Competitive Landscape, Growth Factors and Latest Trends |
| Segments Covered |
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| Regions Covered |
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| Software Defined Radios Market Growth Drivers | Increasing Adoption of SDR for Military Application to Fuel Market Growth |
| Rising Adoption of Modern Communication Systems over Conventional Systems to Aid Growth |
Browse Detailed Summary of Research Report with TOC:
https://www.fortunebusinessinsights.com/software-defined-radios-market-102524
Market Segmentation:
Based on the type, the market is classified into general-purpose radio, joint tactical radio system (JTRS), cognitive/intelligent radio, and terrestrial trunked radio (TETRA). Based on the component, the market is bifurcated into hardware and software. Moreover, On the basis of frequency band, the market is categorized into MF/HF (Medium/high frequency), VHF (very high frequency), UHF (ultra-high frequency), and other bands. Based on the platform, the market is segregated into airborne, naval, land, and space. On the basis of application, the market is divided into commercial and military & defense. Lastly, based on the region, the market is segregated into North America, Asia-Pacific, Europe, and Rest of the World.
Report Coverage:
The global market report includes qualitative and quantitative analysis of several factors such as the key drivers and restraints that will impact growth. Additionally, the report provides insights into the regional analysis that covers different regions, which are contributing to the growth of the market. It includes the competitive landscape that involves the leading companies and the adoption of strategies by them to announce partnerships, introduce new products, and collaboration that will further contribute to the growth of the market between 2023 and 2028. Moreover, the research analyst has adopted several research methodologies such as SWOT and PESTEL analysis to extract information about the current trends and industry developments that will drive the market growth during the forecast period.
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Driving Factors:
Increasing Adoption of the Product across Several Military Applications to Promote Growth
In February 2021, the Indian Army announced its plans to focus on the revamping of its military communication systems by procuring VHF/UHF Manpack software defined radios under the Make-II class. Like India, several countries are focusing on adopting advanced radio communication systems for tactical applications for their militaries. Moreover, the growing adoption of advanced modern radio communication systems across commercial and military applications is expected to surge the adoption of the product. These modern systems provide efficient transmitting and receiving of several modulation methods by adopting a common set of hardware whole enhancing functionality through software modulation. Therefore, such initiatives are anticipated to boost the global software defined radio market growth during the forecast period.
Further Report Findings:
- North America is expected to hold the largest global market growth during the forecast period. This is due to the high military spending and the rapid-paced adoption of advanced communication technologies in countries such as the United States. North America stood at USD 4.9 billion in 2020.
- The market in Asia-Pacific is anticipated to experience exponential growth backed by the high development of the telecommunication sector and supportive government space programs that will boost the demand for advanced software defined radio systems between 2023 and 2028.
- Based on platform, the land segment is expected to hold the largest market share in terms of revenue in the forthcoming years. This is owing to the growing adoption of advanced software defined radio across several cellular base stations. Moreover, the rising installations of these systems on military vehicles is anticipated to lead to the segmental growth during the forecast period.
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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 –Mergers, Acquisitions, and Partnerships
- Latest technological Advancements
- Porters Five Forces Analysis
- Supply Chain Analysis
- Quantitative Insights- Impact of COVID-19 Pandemic on Software Defined Radio Market
- Impact of COVID-19 on Global Software Defined Radio Market
- Steps Taken by Industry/Companies/Governments to Overcome the Impact
- Key Developments in The Industry in Response to COVID-19 Pandemic
- Potential Opportunities Due to COVID-19 Outbreak
- Global Software Defined Radio Market Analysis, Insights and Forecast, 2017-2028
- Key Findings / Summary
- Market Analysis, Insights, and Forecast – By Type
- General Purpose Radio
- Joint Tactical Radio System (JTRS)
- Cognitive/Intelligent Radio
- Terrestrial Trunked Radio (Tetra)
- Market Analysis, Insights and Forecast – By Component
- Hardware
- Software
- Market Analysis, Insights, and Forecast – By Frequency Band
- MF/HF
- VHF
- UHF
- Other Bands
- Market Analysis, Insights, and Forecast – By Platform
- Airborne
- Naval
- Land
- Space
- Market Analysis, Insights, and Forecast – By Application
- Military & Defense
- Commercial
- Market Analysis, Insights, and Forecast – By Region
- North America
- Europe
- Asia Pacific
- Rest of the World
TOC Continued...!
COMPETITIVE LANDSCAPE:
Product Innovation by Eminent Companies to Amplify Their Market Positions
The global market is experiencing significant competition from the players operating in the market. These players are focusing on developing advanced software defined radio systems to cater to the growing demand from the defense and healthcare sector globally. Additionally, adoption of strategies such as merger and acquisition, collaboration, and facility expansion by other companies to maintain their stronghold is expected to favor the market growth in the forthcoming years.
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Industry Development:
- May 2021 – Raytheon Intelligence & Space business of Raytheon Technologies Corporation announced that it had received Type-1 certification of X-Net SDR system from the National Security Agency in support of the Department of Defense.
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