Defense Tactical Radio Market to Reach $17.874 billion by 2023

Progressive Market Report published a report titled, Global Defense Tactical Radio Market Report. According to the report, the market was valued at $7.978 billion in 2016 and is expected to reach $17.874 billion by 2023, at a CAGR of 11.9% from 2017 to 2023.

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The report provides an in-depth analysis of the market size, sales, forecasts of the market. It analyzes the scope of the market, key segments, revenue comparison, and company profiles. The reportisan essential to understand the market trends and opportunities.

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The growth of the global defense tactical radio market is driven by increased demand for faster communication and advancement in the wireless communication technologies. Furthermore, the superior quality, emergency tracking, andgeofencinghas boosted the market. However, there are several reasons that hinder the growth of the global defense tactical radio market. The report provides a thorough analysis of the restraints such as the susceptibility of equipment to hacking by enemies. However, numerous manufacturers try to remedy these problems to improve the performance of the devices.

The report provides a segmentation of the global defense tactical radio market based on type, application, geography. By type, the global defense tactical radio market is bifurcated into handheld radio and vehicle-mounted radio. According to the research, sales of handheld radio have increased more than vehicle-mounted radio. Sale of handheld radio was valued at $2.165 billion in2018 and is expected to reach $3.346 billion by 2023 at a CAGR of 9.4%. The report is analyzed according to the sale generated by the regions including North America, Europe, Asia-Pacific, and LAMEA. According to the study, North America is responsible for the highest revenue of defense tactical radios with a sale of over $3.554 billion in 2017. The detailed analysis of region-wise sale plays an important role in determining the opportunities in the market. The report is divided by application as operation forces (SOF), navy, air force, and army. It provides the statistics of the market size and its forecast. The army segment was the highest contributor to the U.S. market, and its sales are estimated to reach $1,813.4 million by 2023.

The report offers a comprehensive analysis of the key players in the global defense tactical radio market. It offers a study of every vendor of defense tactical radio to determine the new opportunities and investments in the industry. In addition, the manufacturers such as Rolta India, BAE Systems, Rohde & Schwarz INRADIOS, Northrop Grumman, Codan Radio Communications, and L3 Technologies are compared to provide a detailed study of sales.

The company makes use of primary corporate research and secondary inputs from trusted sources to build its own reference base. It maintains consistency in quality as it keeps itself updated with changes in market dynamics and gauging its net effect on global business trends.

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