The global software defined radios market size is prophesied to witness remarkable growth owing to the increasing expenditure on improving the defense communication system of various nations across the globe. Fortune Business Insights describes the market and its growth parameters in details in their upcoming report titled, “Software Defined Radios Market Size, Share & Industry Analysis By Application (Defense, Commercial), By Component (Transmitter, Receiver, Software, Auxillary System), By Platform (Land, Airborne, Naval, Space), By Frequency Band (HF, VHF, UHF, Other Bands), By Type (Joint Tactical Radio System (JTRS), Cognitive/ Intelligent Radio, Terrestrial Trunked Radio (TETRA)) and Regional Forecast, 2021-2028.”
The global Software Defined Radios market size was USD 12.45 billion in 2020. The market is projected to grow from USD 11.60 billion in 2021 to USD 16.20 billion in 2028 at a CAGR of 5.3% in the 2021-2028 period. The current situation of COVID-19 pandemic has left the entire world in a state of panic. The increasing coronavirus cases and the lack of proper healthcare services to aid their needs have put the healthcare sector in major crisis. The governments of various economies have imposed lockdown for a short term in order to get hold of the situation. Owing to this, most businesses are temporarily shut while a few are trying to make ends meet by operating from homes. Fortune Business Insights is providing special reports on different markets affected by the COVID-19 pandemic. These reports are based on analysis of the current situation and their impact on various markets that will help financers accordingly chalk out revenue generating strategies in the coming years.
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What is the Objective of the Report?
The report offers a comprehensive overview of the market focusing on drivers, restraints, challenges, and upcoming opportunities. It throws light on the key industry developments, current trends, and other interesting insights into the market. The report further describes the table of segmentation in details and lists the names of the leading segments with attributed factors. The report also throws light on the players operating in the market and the key strategies adopted by them to gain a competitive edge in the market.
List of Companies Profiled in the Report:
- BAE Systems (The U.K.)
- Aselsan (Turkey)
- Elbit Systems (Israel)
- General Dynamics (the U.S.)
- Northrop Grumman (The U.S.)
- Harris Corporation (The U.S.)
- Rockwell Collins (The U.S.)
- Thales Group (France)
- Leonardo (Italy)
- Rohde and Schwarz (Germany)
Drivers & Restraints-
Rising Adoption by Residential and Industrial Sectors to Bolster Growth
The increasing adoption of SDR in the telecommunication sector and its technological advancements stands as the key factor boosting the global software defined radio market growth. The introduction of cognitive radio (CR), and smart processing into SDRs, coupled with the rising expenditure on the military and defense sector by various governments will also aid in expansion of the market. Additionally, the increasing adoption of software defined radio across the industrial, residential, and commercial sectors will further augment the growth of the market in the coming years. Furthermore, the increasing demand for mission-critical communication will also augment growth.
On the contrary, high power consumption and interoperability of disparate communication technologies may cause hindrance to the market in the forecast period. Despite this, the growing use of wireless features, and the rising demand for next-generation IP systems are likely to create lucrative growth opportunities for the market in the coming years.
Detailed Segmentation of the Software Defined Radios Market include:
The market for software defined radios is segmented into application, component, platform, frequency band, type, and geography. Based on application, the market is bifurcated into commercial, and defense. With respect to component, the market is grouped into auxillary system, software, receiver, and transmitter. On the basis of platform, the market is segmented into space, naval, airborne, mobile, fixed, and land. The frequency segment is further categorized into UHF, VHF, HF, and other bands. In terms of type, the market is classified into terrestrial trunked radio (TETRA), cognitive or intelligent radio, and joint tactical radio system (JTRS).
Asia Pacific to Emerge Dominant Owing to Rising Demand for Advanced Military Equipment
On the basis of geographical segmentation, the largest software defined radio market share is generated by Asia Pacific owing to the increasing demand for advanced technologies and new product development. This, coupled with the rising demand for advanced military equipment, will help this region continue its dominance the market in the forecast period. On the other hand, the market in North America is expected to generate notable revenue on account of the expansion of the telecom industry and the increasing adoption of advanced technological products. Furthermore, the European market will also gain momentum in the coming years attributing to the presence of major players such as Thales Group, BAE Systems, Leonardo, and others in Italy, France, and the United Kingdom.
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Collaborative Strategies are an Increasing trend Among Major Companies
Players functioning in the market for software defined radios are engaging in collaborative strategies such as mergers and acquisitions, contracts and agreements and others to gain competitive edge in the market. Other players are focusing on gaining contracts with the government of various nations for providing services to the military and defense sector. This will also help players earn notable revenue and make their mark in the competition.
April 2016 – A $12.7 billion contract was awarded to Rockwell Collins by the U.S. Army for supplying software-defined radios for military communication under the Handheld, Manpack, and Small Form Factor (HMS) program.
October 2017 – A $131.9 million contract was awarded to Thales by the Royal Navy (UK) for supporting the communication systems installed on the HMS Queen Elizabeth Class for a period of 7 years.
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