5G in Defense Market to Garner $76.01 Billion by 2030: AMR
Portland, OR, April 05, 2021 (GLOBE NEWSWIRE) — According to the report published by Allied Market Research, the global 5G in defense market was pegged at $551 million in 2020 and is estimated to hit $76.01 billion by 2030, registering a CAGR of 67.7% from 2021 to 2030. The report provides an in-depth analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive landscape, and changing market trends.
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Increase in the number of autonomous defense vehicles, drones, and robots, rise in support of government toward the development of 5G, and surge in demand for surveillance activities fuel the global 5G in defense market. However, cyber security threats to 5G network and high infrastructure costs for the deployments of 5G impede the growth to some extent. On the other hand, technological advancements in 5G network and upgradation of military bases present new opportunities in the coming years.
- The COVID-19 outbreak made the government bodies across the globe put investments on 5G technologies on hold to strengthen healthcare services. This led to major delays in the deployment of 5G services in several countries.
- However, there are relaxed rules & regulations in most of the nations now, which has allowed the sector to pick up their activities.
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The global 5G in defense market is analyzed across communication infrastructure, core network technology, network type, chipset, platform, and region. On the basis of communication infrastructure, the small cell segment contributed to more than two-fifths of the total market share in 2020, and is projected to lead the trail during the forecast period. At the same time, the radio access network segment would portray the fastest CAGR of 70.40% from 2021 to 2030.
On the basis of platform, the land segment accounted for more than three-fifths of the total market revenue in 2020, and is projected to rule the roost by 2030. The airborne segment, on the other hand, would portray the fastest CAGR of 70.90% throughout the forecast period.
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On the basis of region, Asia-Pacific held the major share in 2020, generating nearly two-fifths of the global market. The segment is also projected to exhibit the fastest CAGR of 72.2% from 2021 to 2030.The other regions analyzed through the report include North America, Europe, and LAMEA.
The leading market players analyzed in the global 5G in defense market report include Huawei Investment & Holding Co., Ltd, Wind River Systems, Inc., Nokia Corporation, Samsung Electronics Co., Ltd, NEC Corporation, Ligado Networks, Thales Group, L3Harris Technologies, Inc., Telefonaktiebolaget LM Ericsson, and Raytheon Technologies Corporation. These market players have adopted different strategies including partnership, expansion, collaboration, joint ventures, and others to reinforce their status in the industry.
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