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HomeNewsDefence5G defence market to grow at 33.3% CAGR, reaching $3.8 billion by 2032

5G defence market to grow at 33.3% CAGR, reaching $3.8 billion by 2032

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The global market for 5G technology in defence is projected to grow at an impressive compound annual growth rate (CAGR) of 33.3% from 2022 to 2032, according to a recent report.

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The global market for technology in defence is projected to grow at an impressive compound annual growth rate (CAGR) of 33.3% from 2022 to 2032, according to a recent report by Future Market Insights.

This growth will see the market's value soar from an estimated $213.5 million in 2022 to $3.8 billion by the end of 2032. A significant portion of this growth is expected to come from the small cell communication infrastructure sector, which is forecasted to experience a 31.5% growth over the next decade.

This market expansion is attributed to several factors, including the increasing reliance on (IoT) device connectivity, the use of Big Data for decision-making, heightened automation across government and military operations, and substantial investments in 5G network infrastructure upgrades by governments.

According to the report, the integration of more IoT devices into military applications is anticipated to drive revenue growth in the IoT market segment. The adoption of cyber-physical systems, AI technology, and real-time 5G networks is expected to enhance the use of IoT for military applications, facilitating efficient data transmission and information sharing over the internet.

Governments around the world are focusing on strengthening their military infrastructures to ensure seamless connectivity for rapid upgrades and optimal efficiency. These efforts are deemed crucial for the advancement of the 5G defence market, said the report.

Investments by various countries in their defence infrastructures, aimed at protecting borders from threats posed by neighbouring countries, are also expected to bolster the defence budget. “These factors collectively signal a promising outlook for the 5G in defence market,” said the report.

The report highlights that government support for telecommunication infrastructure expansion will significantly contribute to the market growth. Market players in the 5G defence sector are anticipated to capitalise on this growth, potentially reaping substantial profits due to strategic measures they have adopted.

In terms of the competitive landscape, major players in the market include Ericsson, Huawei, Nokia, Samsung, NEC, Thales Group, L3Harris Technologies, Raytheon Technologies, Ligado Networks, and Wind River Systems.

The report suggests that collaborations among these players to enhance service quality are expected to fuel market growth during the forecast period. Moreover, established market players are likely to diversify their offerings and provide comprehensive solutions to stay competitive.

Several key developments have been noted, including Raytheon Technologies and Northrop Grumman contract wins in June 2022 to develop missiles for intercepting hypersonic weapons for the U.S. government.

Similarly, Ligado's partnership with Sony Semiconductor Israel for chipset development for its 5G satellite network and Ericsson's MoU with Mobily to advance 5G use cases in Saudi Arabia are indicative of the market's dynamic nature and the strategic moves by leading companies to solidify their positions in the defence sector.

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Mohd Ujaley
Mohd Ujaley
Mohd Ujaley is a New Delhi-based journalist covering the intersection of technology with government, public sector, defence, and large enterprises. With a career spanning over 14 years, Ujaley has held editorial positions at prestigious publications including The Economic Times, ETGovernment, Indian Express Group, Financial Express, Express Computer, and CRN India. Ujaley graduated with a bachelor’s degree in Business Economics, obtained a master’s degree in Mass Communication from Guru Gobind Singh Indraprastha University (GGSIPU), and received a Parliamentary Fellowship from The Institute of Constitutional and Parliamentary Studies.
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