Press Release / Industry / Military Antenna Market worth 4.30 Billion USD by 2022
Military Antenna Market worth 4.30 Billion USD by 2022
By RameshwarM on May 21 2018 | 479 Views
The military antenna market is projected to grow from an estimated USD 3.23 Billion in 2017 to USD 4.30 Billion by 2022, at a CAGR of 5.90% from 2017 to 2022. Defense modernization programs and increa
The military antenna market is projected to grow from an estimated USD 3.23 Billion in 2017 to USD 4.30 Billion by 2022, at a CAGR of 5.90% from 2017 to 2022. Defense modernization programs and increasing procurement of military radars and air defense systems are expected to fuel the military antenna market.
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The military antenna market has been segmented on the basis of platform, type, application, frequency, and region. Based on platform, the military antenna market has been segmented into airborne, ground, and marine. The ground segment is projected to lead the market during the forecast period owing to the increasing demand for military radar antennas for use in military vehicles, base stations, and air and missile defense systems.
Based on application, the military antenna market has been segmented into communication, SATCOM, surveillance, electronic warfare, navigation, and telemetry. The electronic warfare market is projected to grow at the highest CAGR during the forecast period. The expected high growth rate can be attributed to the increasing adoption of modern warfare techniques in emerging nations in the Asia Pacific and Middle East regions.
Based on type, the military antenna market has been segmented into dipole, monopole, array, loop, aperture, and traveling wave antennas. The array antennas segment is expected to grow at a higher CAGR owing to the increasing application of phased array antennas in military ships and aircraft due to benefits, such as high power and multipurpose applications.
The military antenna market has been studied for North America, Europe, Asia Pacific, Middle East, and Rest of the World (RoW). The Asia Pacific region is estimated to be the largest market for military antennas in 2017. Military ship building activities in countries, such as Japan and South Korea are expected to lead to the high demand for military shipboard antennas, which is expected to drive the military antenna market in the region.
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