Market Size of Tactical Communication Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| CAGR | 4.72 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Tactical Communication Market Analysis
The tactical communication market is estimated to reach USD 17.27 billion by 2030, registering a CAGR of 4.72% during the forecast period (2021 - 2030).
The COVID-19 pandemic and the subsequent travel restrictions and lockdowns have caused disruptions in the supply chains of various players in the market. However, players have adjusted their operations in response to the pandemic in the latter half of the year, which has mitigated the pandemic's impact on the market.
According to SIPRI, global military spending witnessed an increase of 2.6% in 2020, despite the fall in the global GDP. Nevertheless, defense spending may come down in the near future due to the global economic turndown triggered by the pandemic. This can challenge the growth of the market during the forecast period.
The rapid shift toward asymmetric warfare is forcing the militaries to develop their tactical communication capabilities. To improve combat effectiveness, the global armed forces are focusing on enhancing the network-based communication capabilities of their military platforms across the land, air, and sea domains, which is driving the growth of the market.
Also, the increasing investments toward the integration of advanced battlefield technologies and growth in demand for network-centric warfare and satellite-based communication are anticipated to propel the demand in the tactical communication market during the forecast period.
