Global Defense Tactical Radio Strategic Analysis Report 2023: Market to Reach $23.6 Billion by 2030 – Juggling Modernization Goals, World Army Seek to Replace Batches of Legacy Radios
DUBLIN, Dec. 4, 2023 /PRNewswire/ — The “Defense Tactical Radio – Global Strategic Business Report” report has been added to ResearchAndMarkets.com’s offering.
Global Defense Tactical Radio Market to Reach $23.6 Billion by 2030
The global market for Defense Tactical Radio estimated at US$11.2 Billion in the year 2022, is projected to reach a revised size of US$23.6 Billion by 2030, growing at a CAGR of 9.8% over the analysis period 2022-2030. Handheld, one of the segments analyzed in the report, is projected to record 10.3% CAGR and reach US$13.4 Billion by the end of the analysis period. Growth in the Vehicle-Mounted segment is estimated at 9.1% CAGR for the next 8-year period.
Effective communication is crucial in military operations, and this report highlights the significance of defense tactical radios in ensuring successful communication. It also discusses the challenges facing the global economy, including the impact of war, anti-inflation fiscal policies, and slow easing of inflationary pressures, with projections for world economic growth.
The competitive landscape of the defense tactical radio market is examined, providing data on the global key competitors’ percentage market share in 2023. Additionally, the report assesses the competitive market presence of players worldwide in 2023, categorizing them as strong, active, niche, or trivial in the market.
The report may also include recent market activity and developments in the defense tactical radio industry, offering insights into trends, innovations, and market dynamics in this sector.
The U.S. Market is Estimated at $4.6 Billion, While China is Forecast to Grow at 14.5% CAGR
The Defense Tactical Radio market in the U.S. is estimated at US$4.6 Billion in the year 2022. China, the world’s second largest economy, is forecast to reach a projected market size of US$2.7 Billion by the year 2030 trailing a CAGR of 14.5% over the analysis period 2022 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 7.5% and 8.3% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 8.2% CAGR.
What`s New?
- Special discussions on the global economic climate and market sentiment
- Coverage on global competitiveness and key competitor percentage market shares
- Market presence analysis across multiple geographies – Strong/Active/Niche/Trivial
- Online interactive peer-to-peer collaborative bespoke updates
- Access to digital archives and trademarked research platform
- Complimentary updates for one year
- Access to curated YouTube video transcripts of market sentiments shared by CEOs, domain experts and market influencers via interviews, podcasts, press statements and event keynotes
MARKET TRENDS & DRIVERS
- Robust Defense Spending Drives Gains for Defense Tactical Radio
- Robust Defense Spending Amid the Unfortunate State of Global Geo-Political Affairs Opens Opportunities for Tactical Radio: Military Spending by Top Countries in 2022 (In US$ Billion)
- World Military Expenditure by Region in US$ Million: 2018-2022
- A Peek Into the Importance of Tactical Radio in Military Communications
- Juggling Modernization Goals, World Army Seek to Replace Batches of Legacy Radios
- Joint Tactical Radio (JTR) Radios Replace Traditional Radios in the Military Sector
- 5G Holds Enormous Potential in Revolutionizing Tactical Communications
- Growing Role of Tactical Radios in Success of SOF Missions Augurs Well for Market Growth
- Rise in need for End-to-End Automated Tactical Radio Field Testing Platform as Military Attempts to Modernize Equipment
- Defense Forces Procure Next-Generation Radios for Improved Defense Operations
- Key Recent Technological Advances in Defense Tactical Radio Technologies
FOCUS ON SELECT PLAYERS (Total 48 Featured)
- BAE Systems
- Barrett Communications Pty. Ltd.
- CODAN Limited
- General Dynamic Corporation
- L3Harris Technologies, Inc.
- Hytera Communications Corporation Limited
- ICOM Inc
- Leonardo S.P.A.
- Motorola Solutions, Inc.
- Rockwell Collins, Inc.
- Thales Group
For more information about this report visit https://www.researchandmarkets.com/r/340l48
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