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Emerging Economies Driving Growth in the Software Defined Radio Market

Submitted by prajnene on Thu, 05/25/2023 - 22:47

The global Software Defined Radios market size was USD 12.45 billion in 2020. The market is projected to grow from USD 11.60 billion in 2021 to USD 16.20 billion in 2028 at a CAGR of 5.3% in the 2021-2028 period.

List of Companies Profiled in the Report:

BAE Systems (The U.K.)
Aselsan (Turkey)
Elbit Systems (Israel)
General Dynamics (the U.S.)
Northrop Grumman (The U.S.)
Harris Corporation (The U.S.)
Rockwell Collins (The U.S.)
Thales Group (France)
Leonardo (Italy)
Rohde and Schwarz (Germany)
Others
Drivers & Restraints-

Rising Adoption by Residential and Industrial Sectors to Bolster Growth

The increasing adoption of SDR in the telecommunication sector and its technological advancements stands as the key factor boosting the global software defined radio market growth. The introduction of cognitive radio (CR), and smart processing into SDRs, coupled with the rising expenditure on the military and defense sector by various governments will also aid in expansion of the market. Additionally, the increasing adoption of software defined radio across the industrial, residential, and commercial sectors will further augment the growth of the market in the coming years. Furthermore, the increasing demand for mission-critical communication will also augment growth.

On the contrary, high power consumption and interoperability of disparate communication technologies may cause hindrance to the market in the forecast period. Despite this, the growing use of wireless features, and the rising demand for next-generation IP systems are likely to create lucrative growth opportunities for the market in the coming years.

Browse In-depth Summary of This Research Insight:

https://www.fortunebusinessinsights.com/software-defined-radios-market-1...

Segmentation-

Software-defined radio (SDR) is a radio communication system where components traditionally implemented in hardware, such as mixers, filters, amplifiers, modulators/demodulators, and detectors, are instead implemented by means of software on a personal computer or embedded system. This allows for a high degree of flexibility in the radio's functionality and provides a platform for experimentation and innovation in the field of radio communication.

The SDR market can be segmented based on several factors, including application, component, frequency band, platform, and geography.

Regional Analysis-

Asia Pacific to Emerge Dominant Owing to Rising Demand for Advanced Military Equipment

On the basis of geographical segmentation, the largest software defined radio market share is generated by Asia Pacific owing to the increasing demand for advanced technologies and new product development. This, coupled with the rising demand for advanced military equipment, will help this region continue its dominance the market in the forecast period. On the other hand, the market in North America is expected to generate notable revenue on account of the expansion of the telecom industry and the increasing adoption of advanced technological products. Furthermore, the European market will also gain momentum in the coming years attributing to the presence of major players such as Thales Group, BAE Systems, Leonardo, and others in Italy, France, and the United Kingdom.

Competitive Landscape-

Collaborative Strategies are an Increasing trend Among Major Companies

Players functioning in the market for software defined radios are engaging in collaborative strategies such as mergers and acquisitions, contracts and agreements and others to gain competitive edge in the market. Other players are focusing on gaining contracts with the government of various nations for providing services to the military and defense sector. This will also help players earn notable revenue and make their mark in the competition.

Industry Developments:

April 2016 – A $12.7 billion contract was awarded to Rockwell Collins by the U.S. Army for supplying software-defined radios for military communication under the Handheld, Manpack, and Small Form Factor (HMS) program.

October 2017 – A $131.9 million contract was awarded to Thales by the Royal Navy (UK) for supporting the communication systems installed on the HMS Queen Elizabeth Class for a period of 7 years.