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Tactical Data Link Market Business Opportunities, Top Manufacture, Growth, Share Report, Size, Regional Analysis and Global Forecast to 2028

04-13-2022 06:53 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: FORTUNE BUSINESS INSIGHTS

Tactical Data Link Market Business Opportunities, Top

The global tactical data link market size is expected to gain momentum by reaching USD 11,073.9 million by 2028. Fortune Business Insights, in its report, titled "Tactical Data Link Market Size, Share & COVID-19 Impact Analysis, By Solution (Hardware and Software), By Data Link Type (Link 16, Link 22, SADL, and Others), By Platform (Air, Ground, and Sea), By Application (Command & Control, Intelligence, Surveillance, and Reconnaissance (ISR), Electronic Warfare, Radio Communication, and Situational Awareness), and Regional Forecast, 2021 - 2028.", mentions that the market stood at USD 6,380.0 million in 2020 and is projected to exhibit a CAGR of 7.52% between 2021 and 2028. The growing adoption of advanced communication solutions by defense organizations across the globe and the increasing focus on enhancing interoperability among military forces will boost the adoption of the product globally.

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Tactical data link solutions are a communication standard that is widely used across the defense and military sectors for the transfer of critical information. Recent technological advances have led to wider application scope. The ability of tactical data link solutions to operate in real-time will contribute to the growing adoption of the product across the world. The increasing terrorist activities have led to an emphasis on the development of efficient TDL solutions. The increasing emphasis on the R&D of TDL solutions will open up a huge potential for the companies operating in the market. The high investment in product R&D will create several opportunities for the growth of the tactical data link market in the forthcoming years. Increasing international disputes among neighboring countries across the world will lead to an increased demand for the product across the world.

What does the Report Include?

The 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, contributing to the growth of the market. It includes the competitive landscape that involves the leading companies and the adoption of strategies to announce partnerships, introduce new products, and collaborate to further contribute to the growth of the market between 2021 and 2028. Moreover, the research analyst has adopted several research methodologies to extract information about the current trends and industry developments that will drive the market growth during the forecast period.

DRIVING FACTORS

Increasing Number of Company Mergers will Aid Growth

The report encompasses several factors that have contributed to the growth of the overall market in recent years. Among all factors, the increasing number of company mergers and acquisitions has made the highest impact on market growth. In February 2017, the US Navy announced that it has signed a contract with Leonardo Company DRS Technologies Inc. The company announced that the company will deliver new tactical data link for the next ten years. The contract is said to be worth USD 22 million. US Navy's latest contract with Leonardo Company DRS will not just help Leonardo generate a massive revenue in the coming years, but will also have a direct impact on the growth of the overall market in the coming years. The report highlights a few of the other company mergers and collaborations of recent times and gauges their impact on the growth of the overall tactical data link market in the foreseeable future.

REGIONAL INSIGHTS

North America to Remain Dominant; High Military Expenditure to Spur Product Demand

Among all the regions, North America is expected to remain at the forefront during the forecast period. This is due to the increasing spending on the military by countries such as the U.S. Besides, developing advanced defense solutions is likely to propel the demand for advanced tactical data links in the region. North America stood at USD 2,432.5 million in 2020.

Asia-Pacific is anticipated to experience exponential growth during the forecast period. This is attributable to the proactive measures by the militaries of countries such as India, China, and South Korea to upgrade their defense mechanism. For instance, in November 2020, the defense agency of South Korea announced its decision to award Hanwha Systems a contract to develop the main and auxiliary equipment of Link-K. This, according to the company, will improve the transmission speed and interlock it with foreign data links.



Market Segmentation

Based on the solution, the market is bifurcated into hardware and software. On the basis of data link type, the market is classified into Link 16, Link 22, SADL, and others. Moreover, based on the platform, the market is classified into air, ground, and sea.

On the basis of the platform, the air segment held a global tactical data link market share of about 33.73% in 2020 and is likely to showcase significant growth during the forecast period. This is owing to the high demand for rotary-wing aircraft, fixed-wing, and unmanned aerial vehicles (UAVs) for critical defense operations globally.

Based on the application, the market is categorized into command & control, intelligence, surveillance, and reconnaissance (ISR), electronic warfare, radio communication, and situational awareness. Lastly, based on region, the market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa.

List of companies profiled in the report:

BAE Systems (The U.K.)
Curtiss-Wright Corporation (The U.S.)
Elbit Systems Ltd. (Israel)
General Dynamics Corporation (The U.S.)
Honeywell International, Inc. (The U.S.)
L3Harris Technologies, Inc. (The U.S.)
Leonardo SpA (Italy)
Northrop Grumman Corporation (The U.S.)
Raytheon Technologies Corporation (The U.S.)
Saab AB (Sweden)
Thales Group (France)
Viasat, Inc. (The U.S.)
COMPETITIVE LANDSCAPE

Key Players Focus on Acquisition to Expand Their Product Portfolio and Boost Sales Revenue

The market comprises small, medium, and large companies striving to maintain their stronghold. The large companies are focusing on acquiring other small companies to expand their tactical data link portfolio and cater to the growing demand from the defense sector worldwide. In addition to this, other key players are focusing on adopting proactive strategies such as introducing new products, partnerships, and collaborations that will favor the growth of the market in the forthcoming years.

Key Industry Development

June 2020 - BAE Systems technology solutions and services business secured a five-year contract worth USD 85.9 million from the U.S. Navy. Under the contract, the company will aid in designing, integrating, producing, installing, testing, and evaluating data link technology for the naval ships.



Speak to Analyst- https://www.fortunebusinessinsights.com/enquiry/speak-to-analyst/tactical-data-link-market-103189

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Fortune Business Insights™

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Fortune Business Insights™ offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them to address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in.

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