CHICAGO, Dec. 21, 2023 /PRNewswire/ — The Military transmit and receive module market size is projected to grow from USD 5.8 billion in 2023 to USD 7.7 billion by 2028, at a CAGR of 5.8% from 2023 to 2028 according to a new report by MarketsandMarkets™. A surge in demand for miniaturized and more efficient T/R modules and rising geopolitical tensions will drive the military transmit and receive modules market during the forecast period. Along with this, Research and & development in advanced surveillance technologies have also created lucrative provided opportunities in the military transmit and receive modules market. However, stringent regulations for import and export of gallium are restraining the market growth.
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Military Transmit and Receive Module Market Report Scope:
|
Report Coverage |
Details |
|
Market Revenue in 2023 |
$ 5.8 billion |
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Estimated Value by 2028 |
$ 7.7 billion |
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Growth Rate |
Poised to grow at a CAGR of 5.8% |
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Market Size Available for |
2019–2028 |
|
Forecast Period |
2023–2028 |
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Forecast Units |
Value (USD Million/Billion) |
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Report Coverage |
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
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Segments Covered |
By Type, Application, Frequency, Communication Medium, Platform and Region |
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Geographies Covered |
North America, Europe, Asia Pacific, and Rest of World |
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Key Market Challenge |
Vulnerability to radar jamming techniques |
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Key Market Opportunities |
Emphasis on developing lightweight radars |
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Key Market Drivers |
Development of new transmit and receive module technologies |
The Military transmit and receive module market includes major players Northrop Grumman Corporation (US), Thales Group (France), L3Harris Technologies, Inc. (US), RTX Corporation (US), and CAES System LLC (US). These players have spread their business across various countries includes North America, Europe, Asia Pacific, and Rest of the World.
The gallium nitride segment is projected to grow at the highest CAGR rate for the military transmit and receive module market during the forecast period.
Based on type, the market is segmented into gallium nitride, gallium arsenide, and others. The gallium nitride segment is projected to reach USD 3.91 billion by 2028 at a CAGR of 6.3%. In the Asia Pacific region, this segment is projected to register the highest CAGR during the forecast period.
The radar applications is projected to register the highest CAGR of 6.1% during the forecast period.
Based on applications, the market is segmented into radars, communication, electronic warfare, and space. The radar segment will secure leading market position in 2023. It is expected to have a market size of USD 2.76 billion in 2023 and grow at a CAGR of 6.1% to reach USD 3.72 billion in 2028. This is due to the increasing radar modernization contracts for various platforms.
The multi band segment is projected to grow at the highest CAGR rate for the Military transmit and receive module market during the forecast period.
Based on frequency, the market is segmented into single band, and multiband. The Multiband segment is expected to have a market size of USD 1.49 billion in 2023 and grow at a CAGR of 6.4% to reach USD 2.04 billion in 2028. This is due to increasing requirement of scalable, customizable, and have multipurpose transmit and receive modules.
By platform, the airborne segment is estimated to account for the largest market share of the Military transmit and receive module market in 2023.
Based on platform, the market is segmented into Airborne, Naval, Land and Space. The airborne segment is estimated to account for the largest share of 42% of the military transmit and receive module market in 2023. Huge demand for Active electronically scanned array radars used in fighter jets will drive market growth.
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The North American market to contribute the largest share in 2023.
The North American market is going to contribute the largest share of 36% to the military transmit and receive module industry in 2023. This is attributed to the presence of major companies such as Northrop Grumman, L3Harris Technologies, Inc., RTX, and CAES System LLC in the US, which are continuously investing in the R&D of new and advanced technologies in the military transmit and receive module market. These investments are driving the growth of the market in North America.
Northrop Grumman Corporation (US), Thales Group (France), L3Harris Technologies, Inc. (US), RTX Corporation (US), and CAES System LLC (US) are some of the leading players operating in the military transmit and receive module companies.
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