Rise In Government Expenditure: A Key Driver Transforming the Tactical Communication Market 2024

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The tactical communication market size has grown strongly in recent years. It is poised to grow from $19.56 billion in 2023 to $21.35 billion in 2024 at a compound annual growth rate CAGR of 9.2%. The growth in the historic period is driven by strong economic growth in emerging markets, increase in investments, and an upturn in spending on military equipment. The rise in government expenditure for military applications is expected to propel additional growth of this market going forward.

What Factors Are Driving the Growth of the Tactical Communication Market?
Indeed, military applications are a crucial segment for the tactical communication market. Military applications refer to the acquisition, research, development, testing, evaluation, and training related to tactical vehicles, vessels, aircraft, equipment, and weaponry owned or operated by government armed forces. Tactical communications are used extensively in these applications to transfer vital intelligence and orders between commands, individuals, or locations on the battlefield. For Instance, in April 2022, the Stockholm International Peace Research Institute SIPRI reported that total global military expenditure increased by 0.7% in real terms in 2021. Thus, the consistent increase in government expenditure for military applications will significantly boost the tactical communication market.

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Who Are the industry's Major Players in the Tactical Communication Market?
Key players in the tactical communication market include L3Harris Technologies Inc, General Dynamics Corporation, Raytheon Technologies Corporation, Thales Group, BAE Systems PLC, Leonardo SpA, Lockheed Martin Corporation, Northrop Grumman Corporation, Aselsan AS, Elbit Systems Ltd, among others. These industry leaders play a crucial role in shaping the market landscape and making key developments in technologies and services.

What Are the Major Trends in the Tactical Communication Market?
Technological advancements are a key trend gaining traction in the tactical communication market. In March 2023, Thuraya, a regional mobile and satellite service provider based in the United Arab Emirates, partnered with Cobham Satcom to launch T-TAC, a new tactical radio extender over satellite solution. T-TAC, an advanced communication solution, facilitates smooth communication between operators on land, at sea, and in the air. Trends like these underline the industry's commitment to technological innovation and rapidly advancing communication solutions.

The tactical communication market report covers various segments:
1 By Product: Networking Radios, Multiband RadioSatcom Satellite Communication, Video Processors, Other Products
2 By Platform: Underwater Tactical Communication Systems, Airborne Tactical Communication Systems, Land Tactical Communication Systems, Shipborne Tactical Communication Systems
3 By Technology: Time Division Multiplexing, Next Generation Networks
4 By Application: Integrated Strategic Resources, Communication, Combat, Command And Control, Other Applications

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Which Region Holds the Lion's Share in the Tactical Communication Market?
North America held the largest market share in the tactical communication market in 2023. The report also suggests that Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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