Market Research Report
Global 5G in Defense Market Size study, by Communication Infrastructure by Core network technology by Platform by End user and Regional Forecasts 2020-2027
|Global 5G in Defense Market Size study, by Communication Infrastructure by Core network technology by Platform by End user and Regional Forecasts 2020-2027|
Published: November 23, 2020
Bizwit Research & Consulting LLP
Delivery time: 2-3 business days
Global 5G in Defense Market Size study, by Communication Infrastructure (Small cell, Macro Cell, Radio Access Network (RAN)) by Core network technology (Software-Defined Networking (SDN), Fog Computing (FC), Mobile Edge Computing (MEC), Network Functions Virtualization (NFV)) by Platform (Land, Naval, Airborne) by End user (Military, Homeland security) and Regional Forecasts 2020-2027.
Global 5G in Defense Market is valued approximately USD 40.53 million in 2019 and is anticipated to grow with a healthy growth rate of more than 57.50 % over the forecast period 2020-2027.
The 5G technology offers advanced communications and networking along with improved data rates, potential energy savings and lower latency over 4G. The integration of 5G in the defense sector offers these benefits at lower costs providing fast communication between defense equipment such as tanks, fighter jets and others driving the market growth. Thus, the rapid investments in the military owing to swelling expenditure drives the market growth. As per the Stockholm International Peace research institute (SPIRI) United States increased their defense spending by 5.3% reaching a total of USD 732 billion in 2019 as compared to their spending in 2018. Accounting for 38% of the global defense spending. Also, increasing government focus towards modernization of the defense systems augments the market growth. As in October 2020, the Department of Defense, US, announced to award of USD 600 million in contracts to 15 prime contractors to perform testing and evaluation of 5G technologies at 5 military bases across the US. This modernization has resulted in increased procurement of autonomous and connected devices and vehicles in the military which necessitate the use of 5G for efficient operations. However, lack of standards and protocols for use of 5G impedes the growth of the market over the forecast period of 2020-2027. Although, growth in IoT and ML presents a lucrative opportunity for the market.
The regional analysis of global 5G in Defense market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading/significant region across the world in terms of market share owing to the early adoption of technology and well established infrastructure. Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2020-2027. Factors such as rapidly increasing penetration of IoT would create lucrative growth prospects for the 5G in Defense market across Asia-Pacific region.
Major market player included in this report are:
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
Furthermore, years considered for the study are as follows:
Target Audience of the Global 5G in Defense Market in Market Study:
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