The global defence tactical radio market is projected to grow at CAGR of 8.54% between 2018-2023

The recent study on the global defence tactical radio market covers in-depth analysis of the market on the basis of type, application, and geography. The report also covers the country level analysis within the regions as well. Additionally, the report covers the key trends in the market along with drivers and restraint during the forecast period 2018-2023. According to the report titled “Global Defence Tactical Radio Market – Forecast from 2018 to 2023”, the market is estimated to grow at a CAGR of 8.54% to reach a market size of US$14.957 billion in 2023 from US$8.928 billion in 2017. The report has segmented the global defence tactical radio market by type (handheld, vehicle-mounted), application (special operation force, army, navy, airforce) and by geography such as North America (United States, Canada, Mexico, others), South America (Brazil, Argentina, others), Europe (Germany, France, United Kingdom, Spain, others), Middle East and Africa (Saudi Arabia, Israel, others), and Asia Pacific (China, Japan, South Korea, India, others). The number of radio systems in the army has been growing steadily primarily as a result of the rising strength of military personnel. In fact, Germany has recently announced its plans to increase the size of armed forces on account of improving its defence capabilities. Moreover, the efforts by government, more specifically in the emerging nations, to equip its forces with technologically advanced systems and products is anticipated to drive the growth of the market during the forecast period. 

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North America is estimated to hold a significant share in the market.

The North American region is estimated to hold a significant share in the market, primarily as a result of the United States, which makes the largest expenditure on military and defence globally. In fact, in January 2017, Harris Corporation was awarded a contract worth US$403 million to provide spare parts to support various tactical radio systems for the United States Defense Logistics Agency. Moreover, the recent increase in the military budget in the country is further projected to drive the market during the forecast period. 
Some of the major players discussed in the reports are Harris Corporation, General Dynamics Mission Systems, Inc., Advanced Electronics Company, and Raytheon Company, among others.

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