The global tactical data link market size is anticipated to hit USD 11.70 billion by 2029 and exhibit a CAGR of 7.61% during the forecast period. The increasing cross-border disputes amongst neighboring countries and the growing international security threats are expected to augment the market growth. Fortune Business Insights has presented this information in its report titled, “Tactical Data Link Market, 2022-2029”. The market size stood at USD 6.64 billion in 2021 and USD 7.00 billion in 2022.
Additionally, the rising military spending on developing network-enabled weapons and teaming unmanned and manned systems is likely to be a major trend boosting the market growth.
List of Key Market Players-
BAE Systems plc (U.K.)
Curtiss-Wright Corporation (U.S.)
Elbit Systems Ltd. (Israel)
General Dynamics Corporation (U.S.)
Honeywell International Inc. (U.S.)
L3Harris Technologies Inc. (U.S.)
Leonardo S.p.A (Italy)
Northrop Grumman Corporation (U.S.)
Raytheon Technologies (U.S.)
Saab AB (Sweden)
Thales Group (France)
Viasat Inc. (U.S.)
Browse Detailed Summary of Research Report with TOC:
https://www.fortunebusinessinsights.com/tactical-data-link-market-103189
Market Segments:
On the basis of solution, the market is bifurcated into software and hardware. On the basis of platform, the market is trifurcated into sea, ground, and air. On the basis of data link type, the market is segmented into Link 16 and others. On the basis of application, the market is fragmented into situational awareness, radio communication, electronic warfare, Intelligence, Surveillance & Reconnaissance (ISR), and command & control. Geographically, the market is classified into Asia Pacific, North America, Europe, and the Rest of the World.
Report Coverage-
It incorporates Porters’ Five Forces Analysis for precise prediction.
It assimilates key market drivers and restraints.
It profiles the rankings of key market players accordingly.
It includes key market developments and information on different market segments.
It assesses the COVID-19 pandemic’s impact on the market.
Drivers & Restraints-
Growing International Security Threats & Cross-border Issues to Fuel Market Growth
The growing demand for better interoperability between coalition partners and armed forces for secure communication boosts advanced solutions and systems manufacturing. Tactical data link solutions’ growing adoption by end-users owing to the rising necessity for secure communication is projected to fuel the global tactical data link market growth.
Terrorist activities have risen exponentially in recent years. This had led to increased defense budgets and fueled the adoption of modern military communication systems and technologies. Moreover, the globally rising cross-border conflicts amongst neighboring countries have resulted in increased expenditure on the modernization of conventional communication systems. These factors are collectively anticipated to bolster the growth of the market.
However, the diversion of defense budgets to healthcare and rigorous military standards may restrain the market growth.
Regional Insights-
North America to Hold Lion’s Share Due to Enormous Defense Spending
North America is projected to attain the largest tactical data link market share due to enormous defense spending by the U.S. Additionally, the growing expenditure on advanced military solutions’ development is anticipated to boost the region’s market growth.
Asia Pacific is estimated to register the highest CAGR during the forecast period. The rising defense expenditures across India, China, South Korea, and other countries are anticipated to expand the region’s market development.
Europe is expected to witness substantial growth in the global market. The key players present in the region, such as Leonardo S.p.A, Thales Group, and others, are expected to stimulate market growth. Additionally, the rising modernization programs in the military across Russia, France, the U.K., and other nations are anticipated to amplify the region’s market growth.
The rest of the world is predicted to witness considerable market growth of tactical data link during the forecast period.
Competitive Landscape-
Key Players Secure Contracts to Amplify their Revenues
The market comprises various medium and large-scaled businesses such as Thales Group, BAE Systems PLC, Curtiss-Wright Corporation, Viasat Inc., Raytheon Technologies Corporation, and others. The major market players emphasize developing associated tactical communication equipment, software solutions, and upgraded systems to cater to application demand. They adopt strategies such as acquisitions, long-term contracts with the defense ministry, mergers, and extensive research and development. For instance, in November 2020, the Department of Defense AIMS program office certified BAE Systems’ Identification Friend-or-Foe Transponder for F-22 Raptor that uses tactical data link 16 in its air navigation system waveforms.
Key Industry Development-
June 2020: BAE Systems entered into a five-year contract worth USD 85.9 million for engineering systems for the U.S. Navy. The company will support in designing, integrating, producing, installing, testing, and evaluating data link technology for navy ships.