Acumen Research and Consulting recently published report titled “5G in Defense Market, Analysis Report and Region Forecast, 2022 – 2030”
BERLIN , Oct. 14, 2022 (GLOBE NEWSWIRE) — The Global 5G in Defense Market Size accounted for USD 788 Million in 2021 and is projected to achieve a market size of USD 46,656 Million by 2030 rising at a CAGR of 57.7% from 2022 to 2030.
5G in Defense Market Statistics
- Global 5G in defense market value was USD 788 Million in 2021 and expected to grow at CAGR of 57.7% from 2022 to 2030
- North America 5G in defense market revenue gathered over 25% market share in 2021
- Asia-Pacific 5G in defense market growth will record noteworthy CAGR during the forecast timeframe from 2022 to 2030
- According to the Stockholm International Peace Research Institute data, global military spending surpassed USD 2.1 trillion in 2021
- Among communication infrastructure, small cell segment accounted for over 46% of the overall market share in 2021
- Rising number of terrorist activities is a primary driver for 5G in defense market growth
- Advent of AI, ML, and big data fuels the 5G in defense devices market
5G in Defense Market Growth Factors
- Growing adoption of UGV’s and UAV’s
- Rising government support towards 5G development
- Rapidly increasing digital transformation
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5G in Defense Market Report Coverage:
|Market||5G in Defense Market|
|5G in Defense Market Size 2021||USD 788 Million|
|5G in Defense Market Forecast 2030||USD 46,656 Million|
|5G in Defense Market CAGR During 2022 – 2030||57.7%|
|5G in Defense Market Analysis Period||2018 – 2030|
|5G in Defense Market Base Year||2021|
|5G in Defense Market Forecast Data||2022 – 2030|
|Segments Covered||By Communication Infrastructure, By Core Network Technology, By Type, By Chipset, By Platform, And By Geography|
|5G in Defense Market Regional Scope||North America, Europe, Asia Pacific, Latin America, and Middle East & Africa|
|Key Companies Profiled||Telefonaktiebolaget LM Ericsson (Ericsson), Huawei Technologies Co., Ltd., Nokia Networks, Samsung, NEC Corporation, Thales Group, L3Harris Technologies, The Raytheon Company, Ligado Networks, and Wind River Systems, Inc.|
|Report Coverage||Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Regulation Analysis|
5G in Defense Market Dynamics
The Quintessential Factors of 5G Technology Services for the Defense Sector
High-speed data connectivity, significantly enhanced intelligence, surveillance, and reconnaissance (ISR), quick and secure command and control operations, unmanned vehicles, effective logistical support, and integration of extensive virtual reality and augmented reality with a focus on training, simulation, and mission rehearsal are all benefits of implementing 5G technologies. A report released in May 2019 claims that the adoption of 5G technology enhances high-speed communication and completely changes how the military operates. Massive amounts of data will be stored by 5G networks in the near future in order to connect far-off sensors and weapons that are placed in highly populated locations, as well as durable combat field networks.
5G in Defense Market Opportunity
By connecting different kinds of gadgets, appliances, systems, and services, the Internet of Things (IoT) is revolutionizing a number of industries. Numerous sectors are changing as a result of widespread adoption and ongoing IoT improvements. One of the use cases that the 5G network will support is the Internet of Things (IoT); for instance, it would provide communication between a significant number of sensors and linked devices. Applications for the Internet of Things (IoT) with high power, low latency, low power, and long-range needs can be categorized (e.g., smart base). In order to meet the needs of developing IoT applications, which are categorized as huge machine-type communication and mission-critical applications, the 5G market is anticipated to gain pace.
Global 5G in Defense Market Business Strategies
- In April 2021, NEC Corporation announced collaboration with Cisco. The two companies’ new collaboration highlights NEC’s successful record as a Cisco Gold Partner for over two decades. Furthermore, demonstrates its engineering capabilities for Cisco products through its global consumer presence and focus on multiple regions. The two companies’ collaboration expands and drives new business opportunities for 5G services.
- In October 2019, Samsung announced the organization of a Samsung Developer Conference with IBM, which will focus on IBM Cloud and AI capabilities aligned with Samsung’s new mobile product offerings. This collaboration brought together IBM’s capabilities with the Samsung Galaxy exosystem, which is essential for today’s enterprise customer.
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5G in Defense Market Segmentation
The communication infrastructure, core network technology, network type, chipset, and platform segments of the worldwide 5G in defense market. The market is divided into three categories: macro cells, small cells, and radio access networks (RAN). Fog computing (FC), network functions virtualization (NFV), software-defined networking (SDN), and mobile edge computing are market segments based on core network technologies (MEC). Additionally, the market is divided into three categories according to network type: enhanced mobile broadband (eMBB), massive machine type communications (MMTC), and ultra-reliable low-latency communications (URLLC). The three types of chipset are millimetre wave (mmWave), application-specific integrated circuit (ASIC), and radio frequency integrated circuit (RFIC). The three categories of platform are airborne, land, and naval.
5G in Defense Equipment Market Share
As per the core network technology, the software-defined network (SDN) acquired a considerable market share from 2022 to 2030. According to the 5G in defense industry analysis, small cell communication infrastructure sub-segment will gather significant market share in 2021. Based on platform, the land sub-segment accounted for majority of the share in 2021. However, the airborne platform is expected to attain a significant growth rate during the projected timeframe from 2022 to 2030.
5G in Defense Market Regional Growth
The global 5G in defense market is divided into five regions: North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa (MEA).
North America Takes A Forefront Lead; Asia-Pacific to Register Fastest Growing CAGR for the 5G in Defense Market
Due to significant US Federal government investment in 5G defense technologies, North America held the greatest share of the global 5G defense market. In order to retain its global dominance, the US has the greatest defense budget in the world. In addition, the US is leading the development of 5G technology and is home to many regional enterprises, giving it a dominant market share.
As nations in the region work to improve the processing and use of ISR (intelligence, surveillance, and reconnaissance) systems, the Asia-Pacific military market is anticipated to have the highest increasing CAGR throughout the projection period.
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5G in Defense Market Players
The major players involved in the 5G in defense market involve Telefonaktiebolaget LM Ericsson (Ericsson), Nokia Networks, Samsung, Huawei Technologies Co., Ltd., NEC Corporation, L3Harris Technologies, Thales Group, Ligado Networks, The Raytheon Company, and Wind River Systems, Inc.
Questions Answered By This Report
- What was the market size of 5G in Defense Market in 2021?
- What will be the CAGR of 5G in Defense Market during the forecast period from 2022 to 2030?
- Who are the major players in Global 5G in Defense Market?
- Which region held the largest share in 5G in Defense Market in 2021?
- What are the key market drivers of 5G in Defense Market?
- Who is the largest end user 5G in Defense Market?
- What will be the 5G in Defense Market value in 2030?
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