Research Dive has added a new report to its offering titled, “Software Defined Radio Market by Frequency Band (High Frequency, Very High Frequency, and Ultra-High Frequency), Component (Transmitter, Receiver, Software, and Auxiliary System), Platform (Land, Airborne, Naval, and Space), End User (Defense and Commercial), and Regional Analysis (North America, Europe, Asia-Pacific, and LAMEA): Global Opportunity Analysis and Industry Forecast, 2020–2027.”
Research Dive in its latest published report estimates that the Global Software Defined Radio Market will generate $16,455.8 million and exhibit a CAGR of 4.4% from 2020 to 2027.
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Market Dynamics
The demand for advanced military communication system is rising with increasing military expenditure across the globe. In addition, a number of commercial sectors, such as cargo, transportation, oil & gas exploration, and others are increasingly adopting software enable radio communications due to its advantages. These factors are predicted to boost the growth of the global market during the forecast period. However, the risk of security breach in SDRs is expected to hamper the market growth during the estimated timeframe.
Impact of COVID-19 Pandemic on the Market
The COVID-19 pandemic has adversely impacted the global software defined radio market during the pandemic. The decline in the growth rate of the market is majorly attributed to disruption in transportation and supply chain of products to prevent the spread of the coronavirus. Besides, various sectors such as commercial aviation, shipping, and other have been affected due to the pandemic, resulting in reduction in utilization of software defined radios in these sectors. However, many leading companies of the market are adopting strategies such as partnerships and agreements to sustain their business during the tryig times.
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Key Segment Findings of the Market:
The research report segments the global software defined radio market into frequency band, component, platform, end user, and region.
- Based on frequency band, the high frequency sub-segment is expected to value for $7,785.5 million by 2027 and subjugate in the global industry throughout the forecast period. This is mainly due to increasing demand from naval forces for radio communication systems.
- Based on component, the software sub-segment is projected to surpass $3,903.0 million and witness fastest growth during the forecast period. This growth can be majorly attributed to the rising demand of digitization in diverse industries, such as defense, telecommunications, banking, government, manufacturing, healthcare, and retail to perform specific operations.
- Based on platform, the airborne sub-segment accounted for $3,298.2 million in 2019 and is predicted to observe a rapid growth by 2027. The rising demand form commercial & defense aviation sector for SDR systems is expected to contribute to the sub-segment’s market growth.
- Based on end user, the commercial sub-segment is estimated to hold the largest share in the market grow at a CAGR of 3.8 % during the forecast timeframe. The rising utilization of communication systems in various industries such as infrastructure, oil & gas, and others is driving the sub-segmental market growth.
- Based on region, the North America market for software defined radio valued for $3,733.2 million and expected to hold a dominant position in the global industry by 2027. The presence of well-established defense industry and the countries with high military expenditure such as U.S. are factors projected to accelerate the regional market growth in the coming years.
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Top Prominent Market Players of Software Defined Radio Industry
- Northrop Grumman
- L3Harris Technologies, INC.
- General Dynamics Corporation
- BAE Systems
- Thales Group
- Leonardo S.p.A
- Elbit Systems Ltd.
- Rohde & Schwarz
- Texas Instruments Incorporated
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These players are focusing on product launches, partnerships, and strategic collaborations to gain a competitive in the global market. For instance, in April 2020, L3Harris Technologies, an American technology company, defense contractor & information technology services provider, received a third low-rate initial production (LRIP) order by the U.S. Army under the HMS IDIQ (Handheld, Manpack, & Small Form-Fit IDIQ)contract valued at US$95 million. The aim of the U.S. army is to bring AN/PRC-158 software denied radios (SDRs) to the battlefield. According to the company, the army expects to purchase approximately 65,000 HMS Manpack radios under the IDIQ.
Moreover, the report offers other key details of leading players such as business tactics, financial performance, and product/service range of these players along with Porter’s five forces analysis and SWOT analysis.
More about Software Defined Radio
Global Software Defined Radio Market to Rise at a CAGR of 4.4% and Surpass $16,455.8 Million by 2027, Owing to Technological Advancements
All You Need to Know About Software Defined Radio
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