This Tactical Radios market study offers a comprehensive analysis of the business models, key strategies, and respective market shares of some of the most prominent players in this landscape. Along with an in-depth commentary on the key influencing factors, market statistics in terms of revenues, segment-wise data, region-wise data, and country-wise data are offered in the full study. This study is one of the most comprehensive documentation that captures all the facets of the evolving Tactical Radios market.
Advancements in military communication systems have revolutionized the defence industry and the developments in defence infrastructure of various countries is playing a crucial role in bolstering the demand for tactical radio. Additionally, the increase in defence expenditure of various countries such as China, India, Germany, and France have created abundant opportunities for tactical radio market. The demand for tactical radios is increasing as it provide an extreme level of security to protect data that may be sensitive to national security and tactical operations.
Therefore, the increasing need for communication equipment to protect information and the need for consistent communication between the military forces are the major factors fuelling the growth of tactical radios market.
Communication plays an essential role in the successful operation of any mission. Whenever any small group of troops or entity is sent on a particular mission, it is required that the troops or entity remain in contact with other forces so that they can complete their task successfully. Tactical radios are reliable and highly secured military communication system, and due to this feature, various government organizations and entities are adopting tactical radios for providing reliable and secure communication to their forces.
Effect of COVID-19 on Defence Equipment Manufacturing Industries
The worldwide spread of COVID-19 is expected to impact the production/manufacturing facilities of defence equipment manufacturers and can also impact the supply chain. This further can act as one of primary challenges for the growth of tactical radio market.
Furthermore, due to corona virus pandemic the business development efforts by defence equipment manufacturing companies could be hampered and the demand for defence equipment and related services may go down for next 2-3 years. The tactical radios market was valued around US$ 9 Bn globally, and it has witnessed a CAGR of almost 9% in past 4 years.
Owing to the outbreak of COVID-19 pandemic, the growth of tactical radios market is expected to remain stagnant in the year 2020 and 2021 and as per the estimates, the tactical radios market is projected to increase merely by 3%-5% in first two quarters of 2020. Moreover, the defence equipment manufacturers have to make a tough choices that could impact finances and competencies,
which is one of the key factors due to which the growth of tactical radios market may be hampered. However, if the COVID-19 pandemic situation gets controlled during Q3-Q4, 2020, the long-term outlook for tactical radios remains positive.
Tactical Radios Market: Market Dynamics
Growing demand for mobile command systems
In the past few years, the need for mobile command systems has increased rapidly, to enable militaries operate in remote and hostile environments. Moreover, military forces are seeking solutions such as tactical radios to provide enhanced situational awareness capabilities, and allow users to quickly gather, analyse, and disseminate intelligence in order to improve mission success. Furthermore, the need for rapidly deployable solutions that provide command and control capabilities to military, intelligence units, and disaster relief centres is driving the demand for tactical radios.
Demand for Connected Military Systems
The defence industry is coming ahead with a number of technical innovations, and various military communication solution providers are focusing on providing connected military systems. Today, applications of sensors and smart devices are penetrating into the defence industry, which is creating potential growth opportunities for the tactical radios market. Furthermore, recent advancements in information and communication technologies is triggering significant revolutionary changes in many defence sector which is creating a positive impact on the growth of tactical radios market.
Tactical Radios Market: Competition Landscape
Some of the key players in the tactical radios market are
- General Dynamics
- Harris Corporation
- Raytheon Company
- Rockwell Collins
- Thales Group.
These leading players in the tactical radios market are continuously focusing on entering into the partnership and collaboration in order to upgrade their existing product lines and to cope up with the changing customer demands.
Tactical Radios Market: Regional overview
On the basis of geography, North America is expected to capture the significant market share in tactical radios market, owing to the presence of various key players in the region and high defence infrastructure spending by the countries of the region especially the U.S. The tactical radios market in Europe and Asia Pacific is anticipated to capture high growth rates due to the increasing investment by countries of the region in improving defence infrastructure and increased demand for faster communication and advancement in the wireless communication technologies.
Furthermore, the tactical radios market in Latin America and Middle East & Africa is also expected to witness high growth as the countries in these regions are witnessing high focus towards defence modernization programs and increase in military expenditure.
The Tactical Radios market report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, and inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators, and governing factors, along with market attractiveness as per segment. The market report also maps the qualitative impact of various market factors on market segments and geographies.
The report covers exhaustive analysis on:
- Tactical Radios Market Segments
- Tactical Radios Market Dynamics
- Tactical Radios Market Size
- Supply & Demand
- Current Trends/Issues/Challenges
- Competition & Companies Involved in Tactical Radios Market
- Technology Landscape
- Value Chain of the Tactical Radios Market
- Market Drivers and Restraints
Regional analysis includes:
- North America (U.S., Canada)
- Latin America (Mexico, Brazil, Rest of LATAM)
- Europe (Germany, Italy, U.K, Spain, France, Nordic countries, BENELUX, Rest of Europe)
- East Asia (China, Japan, South Korea)
- South Asia & Pacific (India, ASEAN, Australia & New Zealand)
- Middle East and Africa (GCC Countries, Turkey, Northern Africa, South Africa, Rest of MEA)
- Detailed overview of parent Tactical Radios market
- Changing Tactical Radios market dynamics in the industry
- In-depth market segmentation
- Historical, current, and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape of Tactical RadiosMarket
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint
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Tactical Radios Market: Segmentation
The tactical radios market has been segmented on the basis of type and application
The tactical radios market is segmented on the basis of type:
The tactical radios market is segmented on the basis of application:
- Air force
- Special Operation Force (SOP)
Frequently Asked Questions
What research methodology is used to develop the Tactical Radios Market report?
- FMI utilizes three branched methods to derive market measurements used to compile any report study (data derivation, triangulation and validation).
- These approaches include accumulating data from both primary and secondary sources
- Primary research involves interviews with industry operators and FMI's network of contacts spanning the world's value chain of the Tactical Radios Market. This is supported by a comprehensive literature analysis of information gathered through secondary sources
- Analysis of several middle market stakeholders for country-wise data
What else does FMI offer apart from Tactical Radios Market report?
In addition to up-to-date market figures and customized of the Tactical Radios Market, FMI offer consulting services to help businesses within industry navigate challenges and take well-informed decisions amidst the breakneck competition.
How do you define competitors based on market structure? What aspects about a competitor are included in the company profile section?
- Most of the competitors are segregated according to their market share in 'Tier' wise statures.
- Global market participants are scrutinized and global competition metrics are included with numerous competitor profiles referring to their business background and go-to market strategies.