Pune, India, May 23, 2022 (GLOBE NEWSWIRE) — The world tactical data link market The size is expected to reach USD 11.70 billion by 2029 and grow at a CAGR of 7.61% during the forecast period. Growing cross-border conflicts between neighboring countries and rising international security threats are expected to augment the market growth. Fortune Business Insights possesses presented this information in its report entitled, “Tactical Data Link Market, 2022-2029”. The market size stood at USD 6.64 billion in 2021 and USD 7.00 billion in 2022.
Also, increasing military spending on the development of networked weapons and the combination of unmanned and manned systems is likely to be a major trend driving the growth of the market.
List of Tactical Data Link Market Key Players:
- BAE Systems plc (UK)
- Curtiss-Wright Corporation (USA)
- Elbit Systems Ltd. (Israel)
- General Dynamics Corporation (USA)
- Honeywell International Inc. (USA)
- L3Harris Technologies Inc. (USA)
- Leonardo SpA (Italy)
- Northrop Grumman Corporation (USA)
- Raytheon Technologies (USA)
- Saab AB (Sweden)
- Thales Group (France)
- Viasat Inc. (USA)
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|Market size value in 2022||$7.00 billion|
|Revenue forecasts in 2029||$11.70 billion|
|Rate of growth||CAGR of nearly 7.61% 2022-2029|
|Year of reference||2021|
|Historical years||2018 – 2020|
|Forecast years||2022 – 2029|
|Segments Covered||By type of solution, by type of data link and by platform|
|Forecast units||Value (USD billion) and volume (units)|
|Quantitative units||Revenue in USD Million/Billion and CAGR from 2022 to 2029|
|Regions covered||North America, Europe, Asia-Pacific, Latin America, Middle East and Africa, and Rest of the World|
|Countries covered||United States, Canada, Mexico, United Kingdom, Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC countries and South Africa, among others|
|Number of companies covered||BAE Systems plc (UK), Curtiss-Wright Corporation (USA), Elbit Systems Ltd. (Israel), General Dynamics Corporation (USA), Honeywell International Inc. (USA), L3Harris Technologies Inc. (USA), Leonardo SpA (Italy) Northrop Grumman Corporation (USA), Raytheon Technologies ( United States), Saab AB (Sweden) Thales Group (France) Viasat Inc. (United States)|
|Report cover||Market Growth Drivers, Restraints, Opportunities, Porter’s Five Forces Analysis, PEST Analysis, Value Chain Analysis, Regulatory Landscape, Market Attractiveness Analysis by Segments & Region, Market Share Analysis business and analysis of the impact of COVID-19.|
|Scope of customization||Take advantage of personalized purchasing options to meet your exact research needs.|
Based on the solution, the market is divided into software and hardware. Based on the platform, the market is trifurcated into sea, land and air. On the basis of data link type, the market is segmented into Link 16 and others. Based on application, the market is fragmented into situational awareness, radio communication, electronic warfare, intelligence, surveillance and reconnaissance (ISR), and command and control. Geographically, the market is categorized into Asia-Pacific, North America, Europe, and Rest of the World.
Browse Detailed Abstract of Research Report with TOC:
- It incorporates Porters Five Forces analysis for accurate prediction.
- It assimilates the main drivers and constraints of the market.
- It profiles the rankings of major market players accordingly.
- It includes key market developments and information on various market segments.
- It assesses the impact of the COVID-19 pandemic on the market.
Drivers and Constraints-
Rising international security threats and cross-border issues to fuel market growth
The growing demand for better interoperability between coalition partners and armed forces for secure communication is driving the manufacturing of advanced solutions and systems. Rising adoption of tactical data link solutions by end users owing to growing need for secure communication is expected to fuel the growth of the global tactical data link market.
Terrorist activities have increased exponentially in recent years. This has led to increased defense budgets and fueled the adoption of modern military communications systems and technologies. In addition, the worldwide increase in cross-border conflicts between neighboring countries has led to an increase in expenditures for upgrading conventional communication systems. These factors are collectively expected to support the growth of the market.
However, diversion of defense budgets to healthcare and stringent military standards may restrain market growth.
North America will have the lion’s share due to huge defense spending
North America is expected to achieve the largest tactical data link market share owing to the huge defense expenditures of the United States. Additionally, rising expenditures for the development of advanced military solutions are expected to drive the market growth of the region.
The Asia-Pacific region is estimated to register the highest CAGR during the forecast period. Rising defense spending in India, China, South Korea and other countries is expected to expand the region’s market development.
Europe is expected to experience substantial growth in the global market. Major players present in the region such as Leonardo SpA, Thales Group and others are expected to drive the growth of the market. Additionally, growing military modernization programs in Russia, France, UK and other countries are expected to amplify the market growth of the region.
The rest of the world is expected to experience considerable growth in the tactical data link market over the forecast period.
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Detailed Table of Contents:
- Search scope
- Market segmentation
- Research Methodology
- Definitions and assumptions
- Market dynamics
- Market factors
- Market constraints
- Market opportunities
- key ideas
- Major Industry Developments – Major Contracts and Agreements, Mergers, Acquisitions and Partnerships
- Latest technological advances
- Analysis of the five forces of carriers
- Supply chain analysis
- Qualitative information
- Impact of COVID-19 on the Tactical Data Link Market
- Measures taken by industry/government/business to overcome the impact
- Potential opportunities due to the COVID-19 outbreak
- Global Tactical Data Link Market Analysis, Outlook and Forecast, 2018 – 2029
- Market definitions
- Market Analysis, Insights & Forecast – By Solution
- Market Analysis, Outlook and Forecast – By Data Link Type
- Market Analysis, Insights & Forecasts – By Platform
- Market Analysis, Outlook and Forecast – By Application
- Command and control
- Intelligence, Surveillance and Reconnaissance (ISR)
- electronic warfare
- wireless communications
- Situational awareness
- Market Analysis, Outlook and Forecast – By Region
- North America
- Asia Pacific
- Rest of the world
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Key Players Obtain Contracts to Amplify Their Revenues
The market includes various medium and large-sized companies such as Thales Group, BAE Systems PLC, Curtiss-Wright Corporation, Viasat Inc., Raytheon Technologies Corporation, etc. The major market players are emphasizing on the development of associated tactical communication equipment, software solutions and upgraded systems to meet the application demand. They are adopting strategies such as acquisitions, long-term contracts with the Department of Defense, mergers, and extensive research and development. For example, in November 2020, the Department of Defense’s AIMS program office certified BAE Systems’ identification friend-foe transponder for the F-22 Raptor which uses Tactical Data Link 16 in waveforms of its air navigation system.
Key industry development-
June 2020: BAE Systems has secured a five-year contract worth $85.9 million for engineering systems for the US Navy. The company will support the design, integration, production, installation, testing and evaluation of data link technology for naval vessels.
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