Global Military Radio Market and Technology Forecast: 2014 - 2024

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Report Summary:

Strategy Analytics forecasts the global military radio market will grow to over $9.1 billion in 2024, representing a CAGR of 3.3%. We expect the Asia-Pacific region will drive spending on tactical radios for especially for land-based communications and account for the largest end market over the entire forecast period. Land-based radios will represent the largest market both in dollar terms as well as in terms of total shipments. The total number of radio shipments is forecast to grow at a CAGR of 3.5% through 2024 to reach 172,867 units. While traditional HF, VHF and UHF radio frequencies will maintain use, there will be an increasing emphasis towards systems that can support multi-band and/or wideband operation with the market for these radio systems accounting for 47% of the total global military radio market in 2024. The associated market for radio component technologies will grow from $710 million to almost $1.1 billion with GaN (gallium nitride) becoming an established technology as it grows at a CAGR of 32.7%.

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