Tactical Radios Market Trends

Growth Drivers

High Demand for Lightweight Handheld Radios in Defense and Military Sector - Growing defense, and military sector spending is further surging the demand for lightweight handheld radios. For instance, military spending around the globe accounted for more than USD 2 trillion in the year 2022.
Integration of LTE Technology - The growth of tactical radios market is stimulated by the adoption of LTE technologies in Professional Mobile Radio Systems, PMRs which allow for live data interchange and transmission of complicated Video and Voice Data as well as miniaturization of equipment carried out by major players. The market is also growing as a result of improved digital signal processing and compression technologies that are designed to exclude noise in the atmosphere because of miscommunication problems in highly stressful environments.

Challenges

Operational Challenges Associated - Firstly tactical radios are expensive to develop, procure, and maintain. This can limit budgets for other military equipment and capabilities. Soldiers need to be trained on how to use and maintain their radios effectively. This can be time-consuming and resource-intensive as well.
The growth of the tactical radios market is likely to be impeded by problems with optimum connectivity in a limited bandwidth.
In the forecast period, increasing concerns about interoperability between different communication technologies are expected to have a negative influence on tactical radios.

Tactical Radios Market: Key Insights

Base Year	2023
Forecast Year	2024-2036
CAGR	~13%
Base Year Market Size (2023)	~USD 13 Billion
Forecast Year Market Size (2036)	~USD 165 Billion
Regional Scope	North America (U.S., and Canada) Latin America (Mexico, Argentina, Rest of Latin America) Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific) Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe) Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)

Frequently Asked Questions (FAQ)

The growing demand in defence and military and growing technological advancement are some of the major factors anticipated to drive the growth of the tactical radios market.

The market is anticipated to attain a CAGR of ~13% over the forecast period, i.e., 2024-2036.

The major players in the market are of Northrop Grumman, Thales Group, General Dynamics Corporation, Raytheon Technologies Corporation, L3Harris Technologies, Inc., BAE Systems, Iridium Communications Inc., Viasat, Inc., Codan Limited., and others.

The land segment is anticipated to garner the largest market size by the end of 2036 and display significant growth opportunities.

The market in Asia Pacific is projected to hold the largest market share by the end of 2036 and provide more business opportunities in the future.

Tactical Radios Market Trends