Military Communications Market expected to reach $37.67 billion by 2023

(IT-NEWSWIRE.COM, October 22, 2020 ) The military communications market is projected to grow from USD 31.50 billion in 2018 to USD 37.67 billion by 2023, at a CAGR of 3.6% from 2018 to 2023. Some of the major factors driving the military communications market include the growing concerns related to security of military communications and the need to modernize and replace aging communication equipment.

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Companies such as General Dynamics (US), Lockheed Martin (US), Northrop Grumman (US), BAE Systems (UK), and Raytheon (US) offer military communication solutions. These players have adopted various growth strategies, such as expansions, agreements, partnerships, acquisitions, new product launches, and product enhancements, to strengthen their position in the military communications market. Agreements, collaborations & partnerships was the key strategy adopted by the players in the military communications market between February 2016 and July 2018.

General Dynamics provides various military communications solutions, such as SATCOM base station, digital modular radio (DMR), and PTSH-104 amplified audio speaker. It has adopted product enhancement as one of its key growth strategies to offer innovative and upgraded products. In October 2017, General Dynamics Mission Systems, a business unit of General Dynamics, introduced the new Fortress Wireless Gateway, which allows users to connect quickly and securely to a wireless network to enhance and extend wireless network coverage. The company is also focused on inorganic strategies, such as agreements, to become an exclusive military communications provider. In June 2017, General Dynamics Mission Systems signed an agreement with Carroll Communications, a certified, service-disabled small business that provides key technologies to defense acquisition programs from audio/visual manufacturers, antenna manufacturers, and LTE carrier services.

Lockheed Martin offers a comprehensive set of products in the military communications market. Its featured products include mobile user objective system (MUOS); command, control, battle management, and communications (C2BMC) system; universal communications platform (UCP); and defense satellite communications system (DSCS). The company has adopted inorganic growth strategies, such as contracts and collaborations. For example, in January 2017, Lockheed Martin signed a contract with the US Navy to provide MH-60 helicopters with enhanced electronic warfare surveillance and countermeasure capabilities against anti-ship missile (ASM) threats. Moreover, the company is actively expanding its global footprint. For instance, Lockheed Martin opened an R&D office, named as ‘Research & Development II’ in Orlando (US), in February 2018.

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Military Communications Market expected to reach $37.67 billion by 2023