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 global Software Defined Radios market 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.
Browse In-depth Summary of This Research Insight:
https://www.fortunebusinessinsights.com/software-defined-radios-market-102524
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
Drivers & Restraints-
Rising Adoption by Residential and Industrial Sectors to Bolster Growth
The global software defined radio industry is poised for growth, driven by the increasing adoption of SDR in the telecommunications sector and advancements in technology. The integration of cognitive radio (CR) and smart processing into SDRs, coupled with government expenditures on the military and defense sector, will further drive market expansion. Moreover, the rising adoption of software defined radio in industrial, residential, and commercial sectors will contribute to market growth in the near future. Additionally, the demand for mission-critical communication will also boost the market's growth.
However, the market may face challenges due to high power consumption and interoperability issues with disparate communication technologies. Despite these challenges, the growing use of wireless features and the rising demand for next-generation IP systems are expected to create lucrative opportunities for the market in the coming years.
Segmentation-
The Software Defined Radio (SDR) Industry can be segmented based on the following factors:
- Component: The market can be segmented based on components such as software, transmitter, receiver, and auxiliary system.
- Platform: The SDR market can be segmented based on platforms such as airborne, naval, land-based, space, and man-portable.
- Frequency Band: The SDR market can be segmented based on frequency bands such as HF, VHF, UHF, and other frequency bands.
- Application: The market can be segmented based on applications such as defense, commercial, and homeland security.
- End-user: The SDR market can be segmented based on end-users such as military, telecommunication, transportation, and others.
- Geography: The market can be segmented based on geographic regions such as North America, Europe, Asia-Pacific, Middle East & Africa, and South America.
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.
