The global Military Antenna Market size is expected to gain momentum by reaching USD 6.28 billion by 2028 while exhibiting a CAGR of 9.52% between 2021 and 2028. This information is published by Fortune Business Insights in its report titled “Military Antenna Market, 2021-2028.” The report further mentions that the market stood at USD 3.25 billion in 2020. Factors such as the rising military expenditure and the growing cross-border disputes are anticipated to propel the demand for the product during the forecast period.
The effect of the global pandemic, COVID-19, has been felt across several economies that are facing unprecedented loss. Owing to the lockdown announced by the government agencies, several industries have been on a standstill with limited operational activities. However, a collective effort from the government as well as the industries is likely to bring the economy back on track and aid in the resumption of industrial activities.
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List of the Companies Profiled in the Global Market for Military Antenna:
- Antcom (California, the U.S.)
- Cobham Limited (Wimborne Minster, The U.K)
- Comrod Communication AS (Stavanger, Norway)
- Eylex Pty Ltd. (New South Wales, Australia)
- Hascall-Denke (Florida, The U.S.)
- L3Harris Technologies Inc. (Florida, The U.S.)
- Lockheed Martin Corporation (Maryland, The U.S.)
- MTI Wireless Edge Ltd. (Israel)
- Raytheon Technologies Corporation (Connecticut, The U.S.)
- Rohde & Schwarz (Munich, Germany)
- TERMA (Aarhus Municipality, Denmark)
Market Segmentation:
Based on frequency, the market is divided into high frequency, ultra-high frequency, super high frequency, and extremely high frequency. On the basis of type, the market is segmented into dipole antenna, aperture antenna, traveling wave antenna, loop antenna, and array antenna. Moreover, based on platform, the market is trifurcated into airborne, marine, and ground.
- On the basis of the platform, the ground segment held a global military antenna market share of about 44.86% in terms of revenue in the forthcoming years. The segment is anticipated to experience exponential growth backed by the growing focus on the modernization of existing military equipment that is boosting the adoption of advanced military antennas for ground operations globally.
Lastly, based on the region, the market is classified into North America, Latin America, Asia-Pacific, the Middle East and Africa, and Europe.
What does the Report Include?
The market report includes qualitative and quantitative analysis of several factors such as the key drivers and restraints that will impact growth. Additionally, the report provides insights into the regional analysis that covers different regions, which are contributing to the growth of the market. It includes the competitive landscape that involves the leading companies and the adoption of strategies by them to announce partnerships, introduce new products, and collaboration that will further contribute to the growth of the market between 2020 and 2027. Moreover, the research analyst has adopted several research methodologies such as SWOT and PESTEL analysis to extract information about the current trends and industry developments that will drive the market growth during the forecast period.
DRIVING FACTOR
Rising Cross Border Disputes to Augment Growth
The rising border disputes have led the governments of several countries to strengthen their surveillance, security, and tracking capabilities. For instance, China and Japan are at loggerheads with the border issue involving parts of the South China Sea consisting of the Ryukyu Islands and Senkaku Islands. The need to ensure reliable communication and the increasing focus on strengthening the military might by countries globally will propel the adoption of the product. This, coupled with the growing military expenditures, is expected to favor the global military antenna market growth during the forecast period.
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REGIONAL INSIGHTS
North America – The region is expected to hold the highest position in the market in the forthcoming years. This is attributable to the presence of prominent manufacturers in the region and the growing focus on the modernization of military equipment that will propel the adoption of advanced military antennas in the region. North America stood at USD 1.22 billion in 2020.
Asia-Pacific – The market in the region is expected to gain traction backed by the increasing defense spending in countries such as India and China. According to the Center for Strategic & International Studies, in 2020, China spent around 1.268 trillion yuan in its defense budget, a 6.6% rise compared to the previous year.
COMPETITIVE LANDSCAPE
Key Players Focus on Partnership to Intensify Industry Competition
The global market for military antenna is experiencing healthy competition among major companies. These companies are focusing on partnering with other industry players to expand their product portfolio and further gain a stronghold in the market. Moreover, other key players are leveraging the opportunities by adopting several organic and inorganic strategies during the forecast period.
Industry Development:
- December 2020 – Raytheon Technologies Corporation secured a contract worth USD 90.2 million from the U.S. Navy. The contract is aimed at delivering 23 submarine high data rate antenna systems for the high-capacity communication of underwater vessels.
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