According to a report published by Fortune Business Insights, titled “Tactical Data Link Market Size, Share and Industry Analysis by Solution (Hardware, and Software), By Platform (Air, Ground, and Sea), By Application (Command & Control, Intelligence, Surveillance & Reconnaissance (ISR), Electronic Warfare, Radio Communication, and Situational Awareness), and Regional Forecast, 2020 - 2027,” the market was worth USD 6.14 billion in 2019 and will exhibit a CAGR of 9.54% during the forecast period, 2020-2027.
The global tactical data link market size is projected to reach USD 9.88 billion by the end of 2027. The increasing investment in technological intervention will emerge in favor of market growth.
The increasing emphasis on the R&D of TDL solutions will open up a huge potential for the companies operating in the market. The high investment in the product R&D will create several opportunities for the growth of the tactical data link market in the forthcoming years. Increasing international disputes among neighboring countries across the world will lead to an increased demand for the product across the world.
Asia Pacific is expected to witness the highest growth during the mentioned timeframe. This growth is attributed to the increasing defense budget by China and India for the modernization of the existing tactical communication system. Moreover, the growing need to strengthen military capabilities owing to an increase in terrorist activities in India is expected to aid the market growth in Asia Pacific.
Europe is estimated to hold the second-largest Tactical Data Link market share in 2019 due to the presence of several solution providers in this region, such as Thales Group and Leonardo SpA. The rest of the world will register moderate growth during the review period owing to the rise in disputes among neighboring countries.
List of companies profiled in the report:
- BAE Systems (The U.K.)
- Curtiss-Wright Corporation (The U.S.)
- Elbit Systems Ltd. (Israel)
- General Dynamics Corporation (The U.S.)
- Honeywell International, Inc. (The U.S.)
- L3Harris Technologies, Inc. (The U.S.)
- Leonardo SpA (Italy)
- Northrop Grumman Corporation (The U.S.)
- Raytheon Technologies Corporation (The U.S.)
- Saab AB (Sweden)
- Thales Group (France)
- Viasat, Inc. (The U.S.)
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They are compact guns and can include rifles, handguns, light machine guns, and shotguns.
The purpose of small arms can vary from defense to sports.
They are normally used by military personnel and police.
The increasing adoption of small arms will have a direct impact on the growth of the overall market in the coming years.The global small arms market size is projected to reach USD 6.52 billion by the end of 2027.
List of companies profiled in the report:American Outdoor Brands CorporationFabbrica d'Armi Pietro Beretta S.p.A.FN HERSTALGeneral Dynamics CorporationHeckler & Koch GmbHLockheed Martin CorporationNorthrop Grumman CorporationSturm, Ruger & Co., Inc.Taurus International Manufacturing, Inc.Thales Group Industry Developments:February 2019- Portugal announced that it has signed a contract of worth USD 50.3 million with FN Herstal.
The contract will be aimed at the distribution and development of 1,000 5.56x45mm rifles and 300 new 7.62x51mm rifles.
