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Tactical Radios Global Market 2024 - Key Drivers, Growth Factors, Technological Development And Forecast To 2033
Tactical Radios Global Market
According to The Business Research Company's, The tactical radios market size has grown rapidly in recent years. It will grow from $10.16 billion in 2023 to $11.80 billion in 2024 at a compound annual growth rate (CAGR) of 16.1%. The growth in the historic period can be attributed to growing demand for mobile command systems, demand for connected military systems, increase in defense expenditure, increasing as it provides an extreme level of security to protect data, rise in demand for wireless communication.
The tactical radios market size is expected to see rapid growth in the next few years. It will grow to $21.62 billion in 2028 at a compound annual growth rate (CAGR) of 16.3%. The growth in the forecast period can be attributed to increasingly utilizing sensors and smart devices, high demand for lightweight handheld radios in defense and military sector, demand for tactical ground radios, increase in view of the growing threat of terrorism and border conflicts, increasing their land-based mission capabilities. Major trends in the forecast period include technological advancements, integration of LTE technology, advancements in military communication systems, developments in wireless communication technology, developments in the manufacturing of the equipment.
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Market Drivers and Trends:
The rise in demand for wireless communication is expected to propel the growth of the tactical radio market going forward. Wireless communication is the transmission of information between devices without the use of physical wires or cables. The rising demand for wireless communication is due to advancements in technology, increasing demand for mobility, rapid digital transformation, a growing ecosystem of IoT devices, the need for high-speed connectivity, and the cost-effectiveness and scalability of wireless networks. Wireless communication enhances the capabilities of tactical radios by providing improved mobility, flexibility, interoperability, security, extended range, and improved situational awareness. For instance, in April 2022, according to the Department of Telecommunications under the Ministry of Information and Communications, a Vietnam-based regulatory agency, Vietnam recorded 91.3 million smartphone subscribers in 2021, which is increased by over 2 million at the end of March 2022, resulting in a total of 93.5 million subscribers. Therefore, the rise in demand for wireless communication is driving the growth of the tactical radio market.
Major companies operating in the tactical radio market are developing advanced solutions, such as T-TAC, to gain a competitive edge in the market. T-TAC is a tactical satellite communication solution designed for government and enterprise markets. For instance, in March 2023, Thuraya Telecommunications Company, a UAE-based mobile satellite service company, launched T-TAC, a beyond-line-of-sight (BLOS) communications solution that allows operators on land, sea, and air to communicate seamlessly. This innovative system mitigates limitations in push-to-talk (PTT) communications in remote or isolated locations where line-of-sight systems are difficult to use due to distance or obstacles between field teams and headquarters. T-TAC provides secure communication by combining current tactical Very High Frequency (VHF) or Ultra High Frequency (UHF) radios with a converter that connects to Thuraya's satellites via a single-hop link, ensuring dependable BLOS communications without the need for costly terrestrial infrastructure.
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Major Key Players of the Market:
RTX Corporation, General Dynamics Corporation, Northrop Grumman Corporation, 3M Company, BAE Systems plc, Thales Group, L3Harris Technologies Inc., Motorola Solutions Inc., Elbit Systems Ltd., Bose Corporation, Leonardo DRS Inc., Curtiss-Wright Corporation, Viasat Inc., Rohde & Schwarz GmbH KG & Co, Cobham Limited, ASELSAN A.S., Iridium Communications Inc., Sepura Limited, Codan Limited, Savox Communications Ltd., Thuraya Telecommunications Company, Silynx Communications Inc., Radmor S.A, Rolta India Limited, Television Equipment Associates Inc.
Tactical Radios Market 2024 Key Insights:
• The tactical radios market size is expected to see rapid growth in the next few years. It will grow to $21.62 billion in 2028 at a compound annual growth rate (CAGR) of 16.3%.
• Surge in Wireless Communication Demand Boosts Tactical Radio Market Growth
• Revolutionizing Beyond-Line-Of-Sight Communications For Military Operators
• North America was the largest region in the tactical radios market in 2023
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