Global Software Defined Radio Market to Generate $16,455.8 Million and Exhibit a CAGR of 4.4% from 2020 to 2027 - Exclusive Report [282 pages] by Research Dive

Research Dive in its latest published report estimates that the Global Software Defined Radio Market will generate $16,455.8 million and exhibit a CAGR of 4.4% from 2020 to 2027.

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Market Dynamics

The demand for advanced military communication system is rising with increasing military expenditure across the globe. In addition, a number of commercial sectors, such as cargo, transportation, oil & gas exploration, and others are increasingly adopting software enable radio communications due to its advantages. These factors are predicted to boost the growth of the global market during the forecast period. However, the risk of security breach in SDRs is expected to hamper the market growth during the estimated timeframe.

Impact of COVID-19 Pandemic on the Market

The COVID-19 pandemic has adversely impacted the global software defined radio market during the pandemic. The decline in the growth rate of the market is majorly attributed to disruption in transportation and supply chain of products to prevent the spread of the coronavirus. Besides, various sectors such as commercial aviation, shipping, and other have been affected due to the pandemic, resulting in reduction in utilization of software defined radios in these sectors. However, many leading companies of the market are adopting strategies such as partnerships and agreements to sustain their business during the tryig times.

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Key Segment Findings of the Market:

The research report segments the global software defined radio market into frequency band, component, platform, end user, and region.

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Top Prominent Market Players of Software Defined Radio Industry

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These players are focusing on product launches, partnerships, and strategic collaborations to gain a competitive in the global market. For instance, in April 2020, L3Harris Technologies, an American technology company, defense contractor & information technology services provider, received a third low-rate initial production (LRIP) order by the U.S. Army under the HMS IDIQ (Handheld, Manpack, & Small Form-Fit IDIQ)contract valued at US$95 million. The aim of the U.S. army is to bring AN/PRC-158 software denied radios (SDRs) to the battlefield. According to the company, the army expects to purchase approximately 65,000 HMS Manpack radios under the IDIQ.

Moreover, the report offers other key details of leading players such as business tactics, financial performance, and product/service range of these players along with Porter's five forces analysis and SWOT analysis. 

More about Software Defined Radio

Global Software Defined Radio Market to Rise at a CAGR of 4.4% and Surpass $16,455.8 Million by 2027, Owing to Technological Advancements

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