Global Software Defined Radio Market Research Report 2022-2027
Bharat Book Bureau Provides the Trending Market Research Report on “Software Defined Radio Market by Platform (Airborne, Maritime, Land, Space), Application (Government & Defense, Commercial), Component (Hardware, Software), Type, Frequency (Single Band, Multi-Band) and Region - Global Forecast to 2027”under Defence Market Research Report Category. The report offers a collection of superior Market research, Market analysis, competitive intelligence and Market reports.
The Software Defined Radio Market is projected to grow from USD 10.0 Billion in 2022 to USD 12.5 Billion by 2027, at a CAGR of 4.6% from 2022 to 2027. Rising procurement of modern military tactical communication systems is expected to drive the software defined radio market growth during the forecast period.
Continuously evolving dynamics of the software defined radio (SDR) market are attributed to the changing intergovernmental situations in countries such as North America, Europe, Asia Pacific, the Middle East, Latin America, and Africa.
Growing demand of SDR from telecommunication industry and increasing procurement of next generation military communication system are some factors that are expected to boost the growth of SDR market during the projection period.
Government authorities in multiple developed and developing countries across the globe are continuously focusing on their military spending, including the procurement of technologically advanced products. Countries like the US, France, Russia, and Israel have majorly focused on gaining an edge in the military and defense manufacturing sectors. However, there could be a shift in global economic power towards Asia, wherein countries like China, India, and South Korea have enhanced their military spending in recent years.
China is one of the major defense spenders in the world. With the emergence of China as a strong player in the military & defense sector, neighboring countries, including India, Vietnam, and Japan, are also focusing on increasing their military spending. These countries, along with the US, have high defense budgets to enhance their border and national security. For instance, in November 2019, L3Harris Technologies, Inc. was awarded a contract worth over USD 86 million by the US Special Operations Command (USSOCOM) to supply tactical radios. Elbit Systems was awarded a contract worth over USD 200 million in October 2019 by the Swiss army for the supply of radio communication systems. Such contracts will, in turn, drive the software defined radio market during the forecast period.
Based on platform, the land segment is expected to lead market with largest share in 2022
Based on platform, the software-defined radio market has been segmented into airborne, maritime, land, and space. The increasing requirement for secure and jam-free communication in the defense sector has led to the growth of the software-defined radio (SDR) market. SDR finds a number of distinct applications in multiple sectors, such as military, public safety, and telecommunications. SDR is an advanced technology that helps accelerate the expansion of multi-service, multi-featured, and multi-band radio equipment.
SDR allows single wireless equipment to support a broad range of capabilities that were previously available by integrating several radio components. The initial focus of industry players during the manufacturing of SDRs is on developing a multi-purpose device. A single software-defined radio device could provide cellular connectivity, offer GPS position location service, act as an AM/FM receiver, connect with wireless data networks, and function as an HDTV receiver. It offers the upgradeability and flexibility required to satisfy the users' needs by enabling the instantaneous operation of numerous standards on a single hardware device.
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