5G in Defense Market Value Predicted To Reach US$ 1,500 Million By 2027 Covering COVID-19 Analysis: Acumen Research and Consulting
Acumen Research and Consulting, a global market research provider, published a report entitled “5G in the Defense Market – Global Industry Analysis, Market Size, Opportunities and Forecast, 2020-2027
/One news/ – LOS ANGELES, July 15, 2021 (GLOBE NEWSWIRE) – The Global 5G in the defense market is expected to grow at CAGR of about 58.2% from 2020 to 2027 and is expected to reach a market value of about $ 1,500 million by 2027.
North America takes the lead; Asia-Pacific registry to register fastest-growing 5G CAGR in defense market
North America held the largest share of the 5G defense market due to high investment in 5G defense technology by the US federal government. The US defense budget is the highest in the world for maintaining supremacy in the world. In addition, the United States is a leader in the development of 5G technology and the domicile of a number of companies in the region, leading to a dominant market share.
The Asia-Pacific defense market is expected to have the fastest-growing CAGR over the forecast period, as countries in the region seek to improve the processing and operation of ISR (intelligence, surveillance and intelligence) systems.
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The main factors of 5G technology services for the defense sector
The inclusion of 5G technologies brings the promise of high-speed data connectivity; significantly improved intelligence, surveillance and reconnaissance (ISR), fast and secure command control operations, efficient logistical support, unmanned vehicles and the integration of broad virtual reality and augmented reality, focusing on mission simulation, training and rehearsal According to a report published in May 2019, the introduction of 5G technology improves high-speed connectivity, which transforms the entire military operation. In the near future, 5G networks will store vast amounts of data to connect remote sensors and weapons located in densely populated areas, as well as sustainable battlefield networks.
The Internet of Things (IoT) is transforming different industries by connecting different types of devices, appliances, systems and services. Widespread adoption and continuous progress in IoT are among the factors transforming the various industries. The Internet of Things (IoT) is one of the uses that the 5G network would support; for example, it will allow communication between a large number of sensors and connected devices. High-power applications, low-latency applications (eg Border Surveillance), low-power applications and high-range IoT applications (eg smart base) can be classified. The 5G market is expected to gain traction to support the demands of emerging IoT applications, which are classified as massive machine communication applications and critical applications.
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The global 5G in the defense market is segmented as communication infrastructure, core network technology, network type, chipset and platform. Based on the communication infrastructure, the market is segmented as a macrocell, a small cell and a radio access network (RAN). Through core network technology, the market is segmented as fog computing (FC), software-defined network (SDN), network function virtualization (NFV), and mobile end-to-end computing (MEC). In addition, by network type, the market is segmented as ultra-reliable low latency communications (URLLC), enhanced mobile broadband (eMBB) and massive machine communication (MMTC). The chipset is divided into a radio frequency integrated circuit (RFIC), an application-specific integrated circuit (ASIC) and a millimeter wave chipset (mmWave). The platform is segmented as sea, land and air.
The competitive environment
Some of the leading competitors are Telefonaktiebolaget LM Ericsson (Ericsson), Huawei Technologies Co., Ltd., Nokia Networks, Samsung, NEC Corporation, Thales Group, L3Harris Technologies, The Raytheon Company and among others.
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Some of the key observations on 5G in the defense industry include:
- In October 2019, Samsung announced that it had organized a Samsung developer conference with IBM, which is a new joint platform focused on the capabilities of IBM Cloud and AI, in line with Samsung’s new offerings for mobile products. This collaboration between the two companies combined IBM’s capabilities with the Samsung Galaxy exosystem, which is necessary for today’s corporate customers.
- In April 2021, NEC Corporation announced a partnership with Cisco. The new partnership between the two companies cites NEC’s successful record as a Cisco gold partner for more than two decades. In addition, it proves its engineering capabilities for products offered by Cisco in its global presence among the customer base, combined with a focus on multiple regions. The partnership between the two companies improves and stimulates new business opportunities for 5G services.
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