Persistence Market Research's report, Military Antennas Market Revenue Driven by Growth in the Global Defense Sector, addresses the demand for better communication and the growing market for military antennas. The following is a summation of the subject matter...
Military Antennas Market Revenue Driven by Growth in the Global Defense Sector
An antenna is a vital part of any electronic system. Antennas act as the link between electromagnetic energy in the guided medium and the free space around. They are transducers that convert alternating current into radio frequency or vice versa. Antennas can both send and receive radio signals and depending on their function, are known as receiving and transmission antennas. Antennas used specifically for military applications are called military antennas. These are widely used in armored vehicles, military aircrafts, naval vessels, etc. to provide better surveillance, communication and accurate tracking. Furthermore, the global market for military antennas is expected to witness significant growth in 2018. The military antennas market will reach a value of US$ 986.8 Mn while growing with a Y-o-Y growth rate of 3.9% as compared to 2017.
The growing demand for high quality communication is expected to propel the demand for higher frequency antennas in the future as communication plays an essential role in the successful operation of any mission. When a small group of troops is sent on a particular mission, it must be ensured that the troops are able to remain in contact with other forces so that they can complete their task successfully. Moreover, in cases when troops have to share some important information or the coordinates of some location, the need for high quality and secure communication becomes even more important. A small piece of wrong information can put the life of the troops in danger and can even result in the loss of a war. Military communication systems are reliable and highly secured, and due to this feature, various government organizations are adopting military communication solutions to provide reliable and secure communication to their forces. Therefore, to facilitate high quality communication, military antennas are used across the globe. Furthermore, the market for military antennas is also expected to witness healthy growth opportunities in the future.
Growth in the defense sector is pegged to fuel the demand for military antennas. In the past few years, some countries across the globe have experienced a remarkable increase in defense spending. These regions are pegged to remain attractive markets for defense-related companies, due to the rising focus of various nations towards modernization programs and growing expenditures of countries such as the U.S., China, Saudi Arabia, the U.K., India and Russia in the defense sector. Moreover, strong economic growth, internal security concerns and regional territorial disputes are key drivers for the growth in defense spending in these countries. Furthermore, ongoing territorial conflicts between nations such as India and Pakistan and North and South Korea are contributing significantly to the growth of the military antennas market.
Rise in global military expenditure from US$ 1.647 Trillion in 2015 to US$ 1.701 Trillion in 2017 indicates that the demand for military antennas has also witnessed an increase year on year across the globe, which in turn will significantly drive progress in the overall military antennas market.
The biggest challenges faced nowadays are the large number of legacy systems in use and the lack of integration, which slow down analysis and decision-making. Therefore, various countries are continuously focusing on the replacement of outdated legacy systems. As the technology has evolved over the years, the demand for satellite antennas, modems and other military communication-related equipment has increased rapidly to satisfy the demand from military users. Furthermore, integrated tactical communication systems are expected to be key in military communication in the coming years as technology makes ever-advanced cohesive solutions. This in turn is expected to be the key factor creating healthy demand for military antennas in the future.
Moreover, some of the prominent players involved in the manufacturing and sales of military antennas are Harris, Cobham, Rohde & Schwarz, Mobile Mark, Inc., Antenna Products, MTI Wireless Edge, Hascall-Denke, Alaris Holdings Limited, AvL Technologies Inc., Comrod Communication AS, Eylex Pty Ltd, Antcom Corporation, Southwest Antennas and Amphenol Corporation, among others.
In terms of the market value, the global military antennas market is expected to register a 4.9% CAGR and create an absolute $ opportunity worth US$ 606.6 Mn during the forecast period. In the global military antennas market, North America is likely to remain one of the most lucrative regions, expanding at a CAGR of 4.8% over the forecast period.
These insights are based on a report on Military Antenna Market by Persistence Market Research.