Software Defined Radio Market: An Overview of the Current Landscape
The global software defined radios market size is prophesied to witness remarkable growth owing to the increasing expenditure on improving the defense communication system of various nations across the globe.
The software-defined radio (SDR) market is a rapidly growing industry that is transforming the way radio communication systems are designed and operated. SDR technology enables radio systems to be reconfigured and updated through software, providing greater flexibility and cost-effectiveness. The global Software Defined Radios industry size was USD 12.45 billion in 2020. The market is projected to grow from USD 11.60 billion in 2021 to USD 16.20 billion in 2028 at a CAGR of 5.3% in the 2021-2028 period.
List of Companies Profiled in the Report:
- BAE Systems (The U.K.)
- Aselsan (Turkey)
- Elbit Systems (Israel)
- General Dynamics (the U.S.)
- Northrop Grumman (The U.S.)
- Harris Corporation (The U.S.)
- Rockwell Collins (The U.S.)
- Thales Group (France)
- Leonardo (Italy)
- Rohde and Schwarz (Germany)
- Others
Browse In-depth Summary of This Research Insight:
https://www.fortunebusinessinsights.com/software-defined-radios-market-102524
Drivers & Restraints-
Rising Adoption by Residential and Industrial Sectors to Bolster Growth
The global software-defined radio market is experiencing significant growth, primarily due to the rising adoption of SDR technology in the telecommunications sector and its continuous technological advancements. The integration of cognitive radio and smart processing technologies into SDRs, coupled with increased government spending on military and defense, are also contributing factors. Additionally, the expanding use of software-defined radio across industrial, residential, and commercial sectors is expected to further drive market growth, alongside the growing demand for mission-critical communication.
On the contrary, high power consumption and interoperability of disparate communication technologies may cause hindrance to the market in the forecast period. Despite this, the growing use of wireless features, and the rising demand for next-generation IP systems are likely to create lucrative growth opportunities for the market in the coming years.
Segmentation-
Detailed Segmentation of the Software Defined Radios Market include:
The market for software defined radios is segmented into application, component, platform, frequency band, type, and geography. Based on application, the market is bifurcated into commercial, and defense. With respect to component, the market is grouped into auxillary system, software, receiver, and transmitter. On the basis of platform, the market is segmented into space, naval, airborne, mobile, fixed, and land. The frequency segment is further categorized into UHF, VHF, HF, and other bands. In terms of type, the market is classified into terrestrial trunked radio (TETRA), cognitive or intelligent radio, and joint tactical radio system (JTRS).
Regional Analysis-
Asia Pacific to Emerge Dominant Owing to Rising Demand for Advanced Military Equipment
Asia Pacific is the leading market for software-defined radio, driven by the increasing demand for advanced technologies and new product development, along with a growing demand for advanced military equipment. North America is also expected to contribute significantly to the market's revenue, fueled by the expansion of the telecom industry and the adoption of advanced technological products. The European market is expected to gain momentum, with major players such as Thales Group, BAE Systems, and Leonardo, among others, located in Italy, France, and the United Kingdom.
Competitive Landscape-
Collaborative Strategies are an Increasing trend Among Major Companies
Players functioning in the market for software defined radios are engaging in collaborative strategies such as mergers and acquisitions, contracts and agreements and others to gain competitive edge in the market. Other players are focusing on gaining contracts with the government of various nations for providing services to the military and defense sector. This will also help players earn notable revenue and make their mark in the competition.
Industry Developments:
April 2016 – A $12.7 billion contract was awarded to Rockwell Collins by the U.S. Army for supplying software-defined radios for military communication under the Handheld, Manpack, and Small Form Factor (HMS) program.
October 2017 – A $131.9 million contract was awarded to Thales by the Royal Navy (UK) for supporting the communication systems installed on the HMS Queen Elizabeth Class for a period of 7 years.
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