New York, USA, July 19, 2021 (GLOBE NEWSWIRE) – According to a report released by Research Dive global software defined radio market is expected to generate significant sales of $ 16,455.8 million at a 4.4% CAGR for the forecast period (2020-2027). The comprehensive report offers a brief overview of the current market scenario including key aspects of the market such as growth factors, challenges, restraints, and various opportunities during the forecast period. The report also includes all of the market figures that make it easier and more helpful for the new entrants to understand the market.
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Driver: The high demand for protected and secure transmission of sensitive data by the defense sector is expected to fuel the growth of the global software defined radio market. In addition, military departments are investing more and more money in implementing advanced communication systems for better security measures. This is another factor that is expected to fuel the growth of the market over the forecast period.
Reluctance: During the installation of Software Defined Radio, the organization may face undesirable consequences of a data breach; this factor is likely to curb the growth of the market during the analysis period.
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Opportunity: The use of software defined radios in the commercial sector will open up many market opportunities in the coming years.
Key segments of the market
The report has segmented the market into different segments based on frequency band, component, platform, end-user, and regional analysis.
Frequency band: high frequency subsegment is expected to be the most lucrative
The radio frequency sub-segment is expected to generate revenue of $ 7,785.5 million at a CAGR of 4.2% over the forecast period, up from $ 5,618.8 million in 2019. The main driver of this growth is increased demand for advanced communication systems in the navy forces, which increases the demand for high frequency SDR systems.
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Component: Sub-segment of the station is expected to be the most profitable
The Broadcasters sub-segment is projected to have dominant revenue of $ 4,827.1 million in 2027, compared to $ 3,529.9 million in 2019 for the analysis period. The increasing demand for transmitters in industries such as automotive communication systems, telecommunications, satellite communications, and others.
Platform: The land sub-segment is forecast to be the most beneficial
The land sub-segment is expected to generate revenue of $ 5,276.7 million at a CAGR of 4.6% by 2027, compared to $ 3,710.1 million in 2019. Cargo and passenger ship control centers use communication devices such as software defined radios to monitor the ships. This factor is intended to promote the growth of the market segment.
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End User: Commercial subsegment is likely to be the most profitable
The commercial sub-segment is expected to have a leading market share in the global marketplace, with revenue of $ 10,165.6 million by 2027, up from $ 7,610.7 million in 2019 with a CAGR of 3.8% for the forecast period. The growth in sectors such as aviation and shipping, coupled with the increasing industrial use of communication systems in sectors such as mining, oil & gas, and infrastructure is expected to allow the commercial subsegment to grow in the forecast period.
Region: North America is expected to dominate the market
The The North America regional market had sales of $ 3,733.2 million in 2019 and is expected to have sales of $ 4,981.2 million by the end of 2027.
The state-of-the-art defense sector of North American countries is expected to fuel the growth of the market. That being said, the US is known for its annual military spending, which is more than any other country in the world. These are the factors influencing the growth of the regional market over the analysis period.
High demand for airborne sensors from air forces is expected to fuel the growth of the global airborne sensor market
Major players in the market
• Northrop Grumman.
• L3Harris Technologies, INC.
• General Dynamics Corporation
• BAE systems.
• Thales Group
• Leonardo Spa
• Elbit Systems Ltd.
• Rohde & Schwarz
• Texas Instruments Incorporated
In April 2021, Ashland Global Holdings Inc., an American chemical company, completed the acquisition of the personal care business from Schülke & Mayr GmbH, a portfolio company of the global investment company EQT. The acquisition is designed to strengthen Ashland’s consumer business portfolio and strengthen the company’s position in specialty additives, while expanding the company’s technical capabilities in biotechnology and microbiology.
Analysis of the impact of Covid-19 on the market
The Covid-19 pandemic has had a negative impact on the global software-defined radio market. The cross-border lockdowns have reduced the demand for and production of software-defined radio systems. Software defined radios are also used in maritime communications and commercial aviation. However, the restrictions on the travel and aviation industries have negatively impacted the market.
The report also summarizes many important aspects including the key players’ financial performance, SWOT analysis, product portfolio and the latest strategic developments. Click here for the executive summary of the absolute top business development strategies.
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