US $ 6.28 Billion Navy Antenna Market at 9.52%
Pune, India, June 25, 2021 (GLOBE NEWSWIRE) – The global military antenna market is expected to gain momentum, reaching $ 6.28 billion by 2028 and a CAGR of 9.52% between 2021 and 2028 having. This information is published by Fortune Business Insights in its report, titled “Military Antenna Market, 2021-2028”. The report goes on to mention that the market was worth $ 3.25 billion in 2020. Factors such as increasing military spending and increasing cross-border disputes are expected to drive demand for the product over the forecast period.
The effects of the global COVID-19 pandemic are being felt across multiple economies facing unprecedented losses. Due to the lockdown announced by the government agencies, several industries with restricted operational activities were idle. However, a concerted effort by government and industry is likely to get the economy back on track and help the resumption of industrial activity.
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List of companies distinguished in the world military antenna market:
- Antcom (California, USA)
- Cobham Limited (Wimborne Minster, UK)
- Comrod Communication AS (Stavanger, Norway)
- Eylex Pty Ltd. (New South Wales, Australia)
- Hascall-Think (Florida, USA)
- L3Harris Technologies Inc. (Florida, USA)
- Lockheed Martin Corporation (Maryland, USA)
- MTI Wireless Edge Ltd. (Israel)
- Raytheon Technologies Corporation (Connecticut, USA)
- Rohde & Schwarz (Munich, Germany)
- TERMA (Aarhus Municipality, Denmark)
Based on the frequency, the market is divided into high frequency, ultra high frequency, super high frequency, and extreme high frequency. Depending on the type, the market is divided into dipole antenna, aperture antenna, traveling wave antenna, loop antenna and array antenna. In addition, depending on the platform, the market is divided into airborne, marine and ground-based markets.
Based on the platform, the ground segment held a global market share of military antennas of around 44.86% based on sales in the years to come. The segment is expected to experience exponential growth, aided by a growing focus on upgrading existing military equipment, which will encourage the introduction of advanced military antennas for ground operations worldwide.
Finally, the market is segmented into North America, Latin America, Asia-Pacific, the Middle East and Africa, and Europe based on the region.
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What does the report contain?
The market report provides qualitative and quantitative analysis of various factors such as key drivers and restraints that will affect the growth. Additionally, the report offers insights into the regional analysis covering different regions and contributing to the growth of the market. It encompasses the competitive landscape that includes the leading companies and the adoption of strategies by them to announce partnerships, introduce new products, and collaborations that will continue to grow the market between 2020 and 2027. In addition, the research analyst has several research methodologies such as SWOT and PESTEL analysis to extract information on current trends and industry developments that will drive market growth over the forecast period.
Growing cross-border disputes to fuel growth
Growing border disputes have led governments of several countries to strengthen their surveillance, security and tracking capacities. China and Japan, for example, are arguing over the border issue that affects parts of the South China Sea consisting of the Ryukyu Islands and the Senkaku Islands. The need to ensure reliable communication and the increasing focus on strengthening the military might of countries around the world will fuel the adoption of the product. This, along with growing military spending, is expected to fuel the growth of the global military antenna market during the forecast period.
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North America – It is expected that the region will occupy the highest position in the market in the coming years. This is due to the presence of well-known manufacturers in the region and a growing focus on upgrading military equipment that will drive the introduction of advanced military antennas in the region. North America was $ 1.22 billion in 2020.
Asia Pacific – The market in the region is expected to pick up pace due to rising defense spending in countries like India and China. According to the Center for Strategic & International Studies, China spent around 1.268 trillion yuan on its defense budget in 2020, up 6.6% year over year.
Key players focus on partnership to increase industry competition
The global military antenna market is experiencing healthy competition between large companies. These companies focus on partnerships with other industry players to expand their product portfolio and gain another strong position in the market. Additionally, other key players are taking advantage of the opportunities by pursuing multiple organic and inorganic strategies over the forecast period.
Key Industry Development:
December 2020 – Raytheon Technologies Corporation secured a $ 90.2 million contract with the US Navy. The order is for the delivery of 23 submarine high data rate antenna systems for high-performance communication in underwater ships.
Detailed table of contents:
- Research scope
- Market segmentation
- Research methodology
- Definitions and Assumptions
- Market dynamics
- Market leader
- Market restrictions
- Market opportunities
- Important findings
- Major Industry Developments – Mergers, Acquisitions, and Partnerships
- Latest technological advances
- Porter’s Five Forces Analysis
- Analysis of the supply chain
- Quantitative Insights – Impact of the COVID-19 Pandemic on the Military Antenna Market
- Global Military Antennas Market Analysis, Insights, and Forecasts, 2017-2028
- Main results / summary
- Market analysis, insights and forecasts – by frequency
- High frequency
- Ultra high frequency
- Super high frequency
- Extremely high frequency
- Market analysis, insights and forecasts – by type
- Dipole antenna
- Aperture antenna
- Traveling wave antenna
- Loop antenna
- Array antenna
- Market analysis, insights and forecasts – by application
- Electronic warfare
- Market analysis, insights and forecasts – by platform
- Market analysis, insights and forecasts – by region
- North America
- Asia Pacific
- rest of the world
- Effects of COVID-19 on the Global Military Antenna Market
- Industry / Business / Government Steps to Overcome the Impact
- Key Industry Developments in Response to the COVID-19 Pandemic
- Potential opportunities due to the COVID-19 outbreak
Table of contents continued…!
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