SATCOM to hold biggest market share of military comms market to 2025, study says
NewsDecember 02, 2020
NORTHBROOK, Ill. The military satellite communications (SATCOM) systems segment is expected to hold the largest share of the military communications market between 2020 and 2025, according to a new study by MarketsandMarkets, "Military Communications Market -- Global Forecast to 2025."
The study authors expect the global military communications market to grow from $33.4 billion in 2020 to $40.6 billion by 2025, at a compound annual growth rate (CAGR) of 4.0%, with the key factors driving growth including increased security concerns around the world and the procurement of military communication solutions due to an increase in disputes among different countries.
Broken out by component, the military SATCOM systems segment is predicted to dominate, because most of the world's technologically advanced countries rely on SATCOM communications due to its broader coverage, easy installation, security, and location independence. Additionally, the military radio systems segment is projected to grow at a decent pace as software-defined radio (SDR) is more widely used, while the military security systems segment will also see growth as security concerns mount around the world.
For additional information visit the MarketsandMarkets website.
