Dublin, Aug. 21, 2023 (GLOBE NEWSWIRE) -- The "Naval Communication Market by Platform (Ships, Submarines, Unmanned Systems), System Technology (Naval Satcom Systems, Naval Radio Systems, Naval Security Systems and Communication Management Systems), Application and Region - Global Forecast to 2028" report has been added to ResearchAndMarkets.com's offering.
The global market for naval communication market is estimated to be USD 3.3 billion in 2023 and expected to reach USD 4.3 billion by 2028 at a CAGR of 5.3% from 2023 to 2028
Geopolitical factors and defense budgets of nations have a significant influence on the naval communication market. The geopolitical landscape, including tensions between nations, territorial disputes, and regional security concerns, directly impacts the demand for naval communication systems.
Naval forces around the world prioritize the development and enhancement of their communication capabilities to safeguard their maritime interests and maintain a competitive edge. Geopolitical factors such as increased military presence, territorial claims, and evolving security threats drive the need for advanced communication systems to support naval operations.
The ships segment is projected to witness the highest CAGR during the forecast period.
Based on platform, the ships segment of the naval communication market is projected to hold the highest growth rate during the forecast period. The ships segment is expected to hold the largest market share in the naval communication market. Naval vessels, including aircraft carriers, submarines, destroyers, frigates, and patrol boats, form the backbone of naval operations, and reliable communication systems are essential for their effective functioning.
Ships require robust communication systems to enable seamless coordination, command, and control. These systems facilitate secure voice and data communication, real-time situational awareness, and interoperability with other naval assets and command centers. The ships segment encompasses a wide range of vessel types, each with unique communication requirements.
The command and control segment is projected to dominate the naval communication market by frequency
Based on application, the command coned control segment is projected to dominate the market share during the forecast period. The command and control segment is poised to dominate the naval communication market. Command and control systems play a critical role in naval operations, facilitating effective coordination, real-time situational awareness, and streamlined decision-making processes.
With the growing adoption of network-centric warfare concepts, the demand for robust command and control systems continues to rise. These systems integrate various communication technologies, data analytics, and AI capabilities to enable faster data processing, predictive analysis, and enhanced decision-making.
North America is expected to account for the largest market share in 2023
The naval communication market industry has been studied in North America, Europe, Asia Pacific, and Rest of the World. North America accounted for the largest market share in 2023. The largest market for naval communication in North America is typically the US. The region's dominance can be attributed to several factors, including the presence of major defense contractors, robust naval capabilities, and substantial defense budgets.
The US, in particular, has a significant influence on the market due to its strong naval force and technological advancements in the defense sector. The country invests heavily in naval modernization programs and the development of advanced communication systems for its naval fleet. Companies such as General Dynamics and Lockheed Martin, which are headquartered in North America, contribute to the region's market dominance.
Competitive landscape
Prominent companies include Honeywell International Inc. (US), General Dynamics Corporation (US), Lockheed Martin Corporation (US), BAE Systems plc (UK), and Elbit Systems Ltd.(Israel) among others.
Premium Insights
- Advancements in Naval Communication Systems to Drive Market During Forecast Period
- Naval Satcom Systems Segment to Capture Largest Market Share During Forecast Period
- Unmanned Systems Segment to Dominate Market During Forecast Period
- Command & Control Segment to Lead Market During Forecast Period
- India to be Fastest-Growing Market During Forecast Period
Market Dynamics
Drivers
- Increasing Geopolitical Tensions and Defense Budgets
- Advancements in Satellite Communication Systems and Integration of Network Centric Solutions
- Growing Demand for Cybersecurity
Restraints
- Spectrum Management
- Compatibility with Legacy Systems
Opportunities
- Adoption of 5G Technology
- Integration of Artificial Intelligence
- Growing Demand for Unmanned Systems
Challenges
- Cybersecurity Risks
- Key Cybersecurity Risks and Their Implications
- Environmental Factors
- Developments in Naval Communication Market Since 1900
- Major Developments Revolutionizing Naval Communication in the Last 100 Years
Company Profiles
Key Players
- Honeywell International Inc.
- General Dynamics Corporation
- Lockheed Martin Corporation
- Bae Systems plc
- Elbit Systems Ltd.
- Raytheon Technologies Corporation
- L3Harris Technologies, Inc.
- Northrop Grumman Corporation
- Saab Ab
- Thales Group
- Leonardo S.P.A.
- Curtiss-Wright Corporation
- Cobham Limited
- Rafael Advanced Defense Systems Ltd.
- Aselsan A.S.
- Garmin Ltd.
- Viasat Inc.
- Iridium Communications Inc.
Other Players
- Rhode & Schwarz
- Data Link Solutions
- Ultra Electronics
- Furuno Electric Co. Ltd.
- Icom Inc.
- Kongsberg
- Japan Radio Company
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 236 |
| Forecast Period | 2023 - 2028 |
| Estimated Market Value (USD) in 2023 | $3.3 Billion |
| Forecasted Market Value (USD) by 2028 | $4.3 Billion |
| Compound Annual Growth Rate | 5.3% |
| Regions Covered | Global |
For more information about this report visit https://www.researchandmarkets.com/r/8vb8s8
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