Published Date: 2019-07-01 | Pages: Ongoing | Tables: Ongoing | Report ID: 7295
Industry: Electronics & Semiconductor
The global tactical communication market is expected to attain growth on the back of increasing government and military contracts for advanced communications systems. Increase in terrorism and growth in defense spending could be other factors augmenting the demand for tactical communication. Furthermore, the high requirement of smooth transmission of complex voice and video data and real-time data exchange is prophesied to bode well for the global market.
In June 2019, Harris Corporation won a Foreign Military Sales delivery order worth $51 million, wherein the company will deliver Falcon III handheld and manpack radios to a NATO member. The advanced tactical communication equipment will help to improve interoperability with US and NATO forces.
Increasing Use in Border Security and Battle Damage Assessment to Fuel Demand
Growing need for uninterrupted communication in key sectors such as public safety and military is expected to create lucrative business prospects for players operating in the global tactical communication market. Increasing application of tactical communication systems in wide area surveillance, border security, battle damage assessment, and target acquisition missions is foreseen to help with the growth of the global market. Emergence of bone conduction technology, need to resolve miscommunication issues in high stress environments, and increasing replacement of wired technologies by wireless systems are anticipated to push the demand for tactical communication.
Will Players Look to Win Government Contracts to Increase Market Growth
Some of the top players of the global tactical communication market are Harris Corporation, General Dynamics Corporation, Ultra Electronics, Iridium Communications Inc., Raytheon Company, Northrop Grumman Corporation, Thales Group, L-3 Communications Holdings, Ultra Electronics, and BAE Systems PLC. Leading companies are anticipated to increase their investment in research and development, diversify their product portfolio, and look to sign more contracts with governments to maintain their dominance in the global market.
Harris Corporation is one of the dominating players of the global tactical communication market. In June 2019, the company received the green signal from regulatory authorities for its all-stock merger with L3 Technologies. In the same month, it provided the US Air Force with seventh navigation payload for its GPS III satellite program.
Pricing Analysis as Key Section of Report
Pricing analysis is key to understand how customers respond to alternative prices in a global market. It helps players to know beforehand the tendency of sales growth at different price levels for the coming years. It not only includes the price and cost factors but also non-price factors including performance and features. Players can use pricing analysis to understand the sensitivity of demand when it comes to price changes. Moreover, pricing analysis can help players to become familiar with the buying potential of customers and decide on suitable market target strategies.
By Product Type
● Manpack Radio
● Handheld Radio
● V ehicular Intercommunication Radio
● High-capacity Data Radio
● Multiband Radio
● Networking Radio
● VHF/UHF Radio
● Video Processors
● Other Product Types
By Platform Type
● Integrated Strategic Resources
● Command and Control
● Other Applications
According to analysts, manpack radio is forecast to rise at a higher CAGR whereas vehicular intercommunication radio is foretold to secure a larger share of the global tactical communication market, among product type segments. In the next few years, the global market is expected to witness faster growth of the underwater platform type segment. Among applications, command and control is projected to exhibit a quicker growth rate during the forecast period.
High use of satellite communication systems, VoIP and IP-based communications systems, and other advanced communications systems in defense and other important applications is anticipated to help North America to lead the global tactical communication market. Researchers predict Asia Pacific to rise at a quicker growth rate due to the need to improve communications systems and increase in defense spending.
NOTE - The analysis, thoughts, views, facts, and opinions expressed in this report are of the respective research analysts. QYR Consulting does not necessarily endorse it or it is also not essentially formal views of QYR Consulting.
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