Description
Global Software Defined Radio Market is expected to reach a value of USD 28,241.4 million by 2023 | Software Defined Radio Market is expected to register a CAGR of 8.34% during the forecast period | Software Defined Radio Industry - News and Updates
Overview
The global Software Defined Radio Market is expected to reach a value of USD 28,241.4 million by 2023 at a CAGR of 8.34% during the forecast period of 2018 to 2023. A software defined radio is a type of radio transmission system where the transmission of data or information is carried out using the software on an embedded system or personal computer.
Segmental Analysis
The global software defined radio market has been segmented on the basis of component, frequency band, platform, and application.
Based on component, the global software defined radio market has been divided into transmitter, receiver, software, and auxiliary system. The transmitter segment is expected to dominate the market with a valuation of USD 11,344.3 million in 2018 and reach USD 17,678.9 million by 2023. This growth can be attributed to the use of transmitters to generate and transmit electromagnetic waves carrying signals or messages. They also enable the broadcasting of large amounts of data over long distances by modulating the frequency. The receiver segment is expected to register a CAGR of 5.29% during the forecast period.
The global software defined radio market has been classified, by frequency band, as HF, VHF, and UHF. The HF segment is expected to be the largest, with a value of USD 12,407.9 million in 2018; the segment is projected to reach USD 18,232.5 million by 2023. High-frequency software defined radios offer greater bandwidth and easy data transfer. Additionally, they offer enhanced signal quality. The UHF segment is expected to register the highest CAGR of 9.13% during the forecast period.
Based on platform, the global software defined radio market has been segmented into land, airborne, naval, and space. The land segment is expected to lead with a value of USD 9,764.9 million in 2018 and reach USD 15,213.2 million by 2023 at a CAGR of 9.27%. Software defined radios offer various features such as two-way communication and multifunctionality, enabling various wireless devices to communicate with one another. These features offer armies or land forces secure communication and data transfer. The airborne segment is expected to register a CAGR of 7.94% during the forecast period.
The global software defined radio market has been categorized, by application, as defense and commercial. The defense segment is expected to be larger, with a value of USD 14,858.8 million in 2018; the segment is projected to reach USD 22,988.5 million by 2023. The growth of the defense segment can be attributed to the increasing defense expenditure in various countries and rising adoption of software defined radios by defense organizations. The commercial segment is expected to exhibit a CAGR of 5.29% during the forecast period.
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Regional Analysis
The global software defined radio market has been studied for five key regions—North America, Europe, Asia-Pacific, the Middle East, and Latin America.
North America is expected to lead the market with a valuation of USD 6,944.7 million in 2018 and the regional market is expected to reach USD 10,460.6 million by 2023 at CAGR of 8.54% during the forecast period. This growth can be attributed to the large-scale investments in advanced military equipment by the US Department of Defense.
Europe is expected to be the second-largest market with a valuation of USD 5,068.7 million in 2018 and the regional market is projected to reach USD 7,079.7 million by 2023 at a 6.91% CAGR during the forecast period. The increasing adoption of software defined radios by government agencies is propelling the growth of the European market.
Competitive Analysis
The key players in the global software defined radio market include BAE Systems (UK), Elbit Systems (US), General Dynamics (US), Harris Corporation (US), Leonardo (Italy), Northrop Grumman Corporation (US), Collins Aerospace (US), Rohde & Schwarz (Germany), Thales Group (France), and Viasat, Inc. (US).
Key Developments
In March 2018, Harris Corporation introduced its new AN/PRC-163, a lightweight, two-channel, software defined radio capable of simultaneous voice and data transmission for the US Department of Defense.
In April 2018, Collins Aerospace selected Nutaq's PicoSDR 2×2 as a development and prototyping platform for its software defined radio research.
In July 2017, Rohde & Schwarz signed a contract with the German Federal Ministry of Defense to equip German armed forces command vehicles with the SVFuA joint radio system.
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