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  • 14 January 2021 01:44

Global 5G in Defense Market to Display 57.50% CAGR Through 2027

Market Study Report LLC recently added a new title on 2020-2025 Global 5G in Defense Market Report from its database. The report provides study with in-depth overview, describing about the Product, Size, Share, and Industry Scope and elaborates market outlook and status to 2025.

Global 5G in Defense Market is valued approximately USD 40.53 million in 2019 and is anticipated to grow with a healthy growth rate of more than 57.50 % over the forecast period 2020-2027. The 5G technology offers advanced communications and networking along with improved data rates, potential energy savings and lower latency over 4G.

Request a sample Report of 5G in Defense Market at: https://www.marketstudyreport.com/request-a-sample/3110278/?utm_source=IDG.com/&utm_medium=SP

The integration of 5G in the defense sector offers these benefits at lower costs providing fast communication between defense equipment such as tanks, fighter jets and others driving the market growth. Thus, the rapid investments in the military owing to swelling expenditure drives the market growth. As per the Stockholm International Peace research institute (SPIRI) United States increased their defense spending by 5.3% reaching a total of USD 732 billion in 2019 as compared to their spending in 2018. Accounting for 38% of the global defense spending. Also, increasing government focus towards modernization of the defense systems augments the market growth. As in October 2020, the Department of Defense, US, announced to award of USD 600 million in contracts to 15 prime contractors to perform testing and evaluation of 5G technologies at 5 military bases across the US. This modernization has resulted in increased procurement of autonomous and connected devices and vehicles in the military which necessitate the use of 5G for efficient operations. However, lack of standards and protocols for use of 5G impedes the growth of the market over the forecast period of 2020-2027. Although, growth in IoT and ML presents a lucrative opportunity for the market.

Major market player included in this report are:

  • Ericsson
  • Huawei
  • Nokia Networks
  • Samsung
  • NEC
  • Thales Group
  • L3Harris Technologies Inc
  • Raytheon Technologies
  • Ligado Networks
  • Wind River Systems, Inc.

The regional analysis of global 5G in Defense market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading/significant region across the world in terms of market share owing to the early adoption of technology and well established infrastructure. Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2020-2027. Factors such as rapidly increasing penetration of IoT  would create lucrative growth prospects for the 5G in Defense market across Asia-Pacific region.

By Communication Infrastructure:

Small cell

Macro Cell

Radio Access Network (RAN)

By Core network technology:

Software-Defined Networking (SDN)

Fog Computing (FC)

Mobile Edge Computing (MEC)

Network Functions Virtualization (NFV)

By Platform:

Land

Naval

Airborne

By End user:

Military

Homeland security

For More Details on 5G in Defense Market Report at: https://www.marketstudyreport.com/reports/global-5g-in-defense-market-size-research?utm_source=IDG.com/&utm_medium=SP

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