[ 170?+ Pages Research Report?]?5G in the Defense Market to exceed USD 70,767.5 million by 2031 from USD 501.2 million in 2021 at a CAGR of 64.1% in the coming years, i.e., 2021-2031.?
Instant situational awareness anywhere on Earth, smart hypersonic weapons with on-the-fly retargeting, rich access to mission-critical data on the leading edge of the battlefield, and unmanned drones that can fly safely alongside passenger aircraft in commercial airspace are all possibilities for 5G. 5G promises ubiquitous high-speed data connectivity, which will enable vastly improved intelligence, reconnaissance (ISR), surveillance, as well as faster and more secure command and control, more efficient logistics, swarming unmanned vehicles, and widespread use of augmented and virtual reality for simulation, mission rehearsal, and training.
Global 5G in Defense Market is expected to register a remarkable CAGR of 64.1% by the end of 2031.
Increasing country spending on 5G technologies is predicted to take the global 5Gin defense market forward throughout the forecast period. Increased need for IoT, greater dependency on big data for decision making, and growing demand for automation in defense and military applications, among many other factors, are projected to boost global sales of the stated market.
Global 5G in Defense Market: Segments
The small Cell segment is expected to hold a higher CAGR over the forecast period 2021-31
The expansion of the small cell segment can be ascribed to 5G network operators’ large-scale deployment of tiny cells. The data communication speed is projected to considerably grow as the 5G network is further deployed. Small cells are expected to play a key role in the market for 5G communication infrastructure since they can aid with 5G deployment.
The Mobile Edge Computing (MEC) segment to expected to register a maximum CAGR during 2021-31
With the increased use of MEC-enabled 5G wireless systems that will offer low latency and high bandwidth access to networks, the Mobile Edge Computing section of the Core Network Technology category is predicted to grow at a quicker rate. Furthermore, MEC technology enables data gathering and processing at the network’s edge, simplifying real-time analytics, minimizing unnecessary data storage, and enhancing network security.
Increasing adoption of connected and autonomous devices
Up to one million devices can be supported by 5G technology in an area of about one square kilometer. This means that a 5G network may connect various devices, such as sensors, to each other. All autonomous robots or platforms rely on a network to send and receive data. This data is evaluated and then sent to the systems over the network, which are subsequently used by the automated systems to take action. Such systems will perform more efficiently with a network that has a higher speed and lower latency.
Technological Advancements in 5G are another major booster
The demand for fast and reliable transmission networks has increased as technology evolves around the world to allow the connectivity of advanced devices including robots, sensors, drones, and autonomous vehicles utilized by defense agencies. The 5G network offers real-time?connectivity, machine-to-machine interaction, high network speed, and other capabilities that aid in the interconnection of smart devices used by homeland security and intelligence organizations in intelligence and surveillance?activities.
Lack of in-depth knowledge of technology restrains the market growth
5G infrastructure for defense is still in its early stages of development, companies working on it must deal with challenges such as access to information, experimenting with military platforms, and the accessibility of regulations for development and testing, among other things. Few restricting issues include a dearth of competent labor and the military’s early adoption stage of 5G technology with little in-depth knowledge of the technology.
Global 5G in Defense Market: Key Players
Telefonaktiebolaget LM Ericsson
Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis
Huawei Investment & Holding Co., Ltd
Samsung Electronics Co., Ltd
L3Harris Technologies, Inc.
Raytheon Technologies Corporation
Wind River Systems, Inc.
Global 5G in Defense Market: Regions
Due to growing investments in 5G technology by the US Department of Defense, North America is expected to lead the market during the forecast period. The United States is expected to be the world’s top developer and operator of 5G technology, with a substantial share of the worldwide market going to the North American region. In defense, 5G technology improves the processing and functionality of ISR (intelligence, surveillance, and reconnaissance) systems, enables new command and control systems, improve augmented and virtual reality applications, modernizes maintenance processes, and improves logistics supply efficiency using technologies like blockchain.
Impact of COVID-19 on 5G in the Defense Market
The COVID-19 outbreak wreaked havoc on economies around the world, particularly in the defense sector, where high-investment technology like 5G is being deployed. Due to the current economic climate and disruptions in the supply chain of crucial components, the development and testing of 5G technologies for the defense sector have been placed on hold. Due to a delay in spectrum auctions, a lag in regulatory timescales, a constrained workforce for network roll-out, decreased capital and operating expenditures, and a decline in technological breakthroughs, the pandemic had a moderate impact on communication systems suppliers and operators.
Global 5G in Defense Market is further segmented by region into:
North America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – the United States and Canada
Latin America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – Latin America
Europe Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United Kingdom, France, Germany, Russia, and Rest of Europe
Asia Pacific Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – India, China, South Korea, Japan, and Rest of APAC
the Middle East and Africa Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – South Africa and Rest of the Middle East and Africa
Global 5G in Defense Market report also contains analysis on:
5G in Defense Market Segments
By Communication Infrastructure
Radio Access Network (RAN)?
By Core Network Technology
Software-Defined Networking (SDN)
Fog Computing (FC)
Mobile Edge Computing (MEC)
Network Functions Virtualization (NFV)
By Network Type
Enhanced Mobile Broadband (eMBB)
Ultra-Reliable Low-Latency Communications (URLLC)
Massive Machine-Type Communications (MMTC)
Application-specific Integrated Circuit (ASIC) Chipset
Radio Frequency Integrated Circuit (RFIC) Chipset
Millimeter-Wave (mmWave) Chipset
5G in Defense Market Dynamics
5G in Defense Market Size
Supply & Demand
Competition & Companies Involved in the Market
Value Chain of the Market
Market Drivers and Restraints
5G in Defense Market Report Scope and Segmentation
Report Attribute Details
The market size value in 2021 USD 501.2 million
The revenue forecast in 2031 USD 70,767.5 million
CAGR of 64.1% from 2020 to 2031
The base year for estimation 2020
Quantitative units Revenue in USD million and CAGR from 2020 to 2031
Revenue forecast, company ranking, competitive landscape, growth factors, and trends segments segments segments segments segments segments segments segments
Communication Infrastructure, Core Network Technology, Network Type, Chipset, Platform, and Region
Regional scope North America, Latin America,? Europe, Asia Pacific, Middle East & Africa (MEA)
Key companies profiled Telefonaktiebolaget LM Ericsson, Huawei Investment & Holding Co., Ltd, Nokia Corporation, Samsung Electronics Co., Ltd, NEC Corporation, Thales Group, L3Harris Technologies, Inc., Raytheon Technologies Corporation, Ligado Networks, and Wind River Systems, Inc.