DUBLIN--(BUSINESS WIRE)--Research and Markets has announced the addition of the "The Global Tactical Communications Market 2017-2027" report to their offering.
Global tactical communications market is expected to value US$9.9 Billion in 2017, and will grow at a CAGR of 2.75%, to value US$13.0 Billion by 2027.
The cumulative market for global expenditure on tactical communications will reach US$115.8 Billion over the forecast period. Furthermore, the demand for tactical communications is also being influenced by the escalating markets for airborne, naval, and land based vehicles globally. As the military forces seek for upgrade of their existing fleet sizes, the demand for superior capabilities in the new procurements also experience a substantial surge, which is extensively focused towards enhanced communication systems.
The global tactical communications market is expected to be dominated by North America. Despite the defense budget sequestration, the region is expected to record a CAGR of 2.04% between 2017 and 2027. Overall, North America is projected to spend US$44.0 Billion on tactical communications over the forecast period. In 2017, regional expenditure is expected to value US$4.4 Billion and increase to US$5.4 Billion by 2027. In pursuit of maintaining the global military dominance and providing the armed forces with most advanced equipment, the US, which is the largest defense spender in the world, is constantly undertaking initiatives and programs to uplift the military capabilities.
Europe is estimated to be the third largest market globally with a share of 20% during 2017-2027, which is currently being driven by factors such as modernization of military equipment, intensifying international disputes among nations and collective interest in resisting insurgent attacks from the adjacent regions. With a share of 7%, the market for tactical communications in Middle East is projected to be the fourth largest market globally.
The man-portable segment is expected to be the largest market for tactical communications during the forecast period. The fast paced technological advancement in this domain has led to the growing demand of man-portable systems rendering earlier equipment obsolete. Driven by large scale procurement as well as upgrade programs that are being undertaken by several nations across the world, the man-portable systems are expected to account for the largest share of 43% in the global market over the forecast period.
Companies mentioned in this report:
- Barrett Communications
- DRS Technologies
- Elbit Systems
- General Dynamics
- Harris Corporation
- Rockwell Collins
For more information about this report visit https://www.researchandmarkets.com/research/phplhd/the_global