Description
All forms of communication or conveyance of information are covered within the military communications (commonly known as comms) market. The proliferation of communications market initiated with runners, followed by audio-visual means of communication. Presently the market is centered on technologies that enable the transfer of information via electronic equipment. The electronic age has hereby accelerated the commemoration of network-centric communication that allows troops to relay information across platforms. The use of this technology propels the survivability amongst troops since the tactical endurance of the armed forces can be strengthened via communication.
As of 2020, the military communications systems market was poised to attain a market value of roughly USD 33 Billion. The market is growing with a CAGR of 4% during the forecast period 2021-2031. The growth in network-centric warfare-based amenities is one of the key drivers for this market. The expanding global defense budget is another factor that facilitates the growth associated with this segment. As of 2020, it was witnessed that the US accounted for roughly 39% of the global defense budget incurred. The increased emphasis on security and safety of troops is poised to bolster the research-based spending within the military communications market.
Growing animosities amidst various nations and the exceeding border tensions amongst Asian countries are two of the key factors which are expected to accelerate the growth within this market. Border tensions within India and China are expected to boost the defense budget for both the upcoming nations. Moreover, the brewing insurgency within Afghanistan is also expected to increase the security of the neighboring countries owing to the growing militant threat.
Growing cyber threats is one of the key drivers for this market. As of 2017, the US introduced a military code also known as an M-Code that improves anti-jamming. The M code also protects against spoofing and other internet threats in addition to providing the military with secure access to the GPS. The M-code early usage capability was provided to GPS satellites during the study period. The contract was undertaken by Lockheed Martin and its value was recorded to be USD 45.5 Million.
One of the growing market opportunities within this segment is the growing number of communication platforms that operate within the Ka frequency. The data transfer rates associated with the same are higher as compared to Ku and X bands due to which the market is poised to attain rapid growth dynamics.
However, in terms of technology barriers, it is to be noted that the inter-operability of platforms is a concept that is presently being explored by researchers. The market has limited growth since the communication frequencies fail to travel long distances. Technology developers have been trying to develop techniques via which various DODs across the world could potentially function in a synchronized fashion. Conclusively, the growth in military procurement and the subsequent rise in defense spending is poised to market growth dynamics. The impacts of COVID-19 are yet to be countered by the global markets. The worldwide economy is poised to recover by the year 2023-2024.
