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. 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.
Tactical data link solutions are a
communication standard that is widely used across the defense and military
sector for the transfer of critical information. Recent technological advances
have led to a wider application scope. The ability of tactical data link
solutions to operate in real-time will contribute to the growing adoption of
the product across the world. The increasing terrorist activities have led to
an emphasis on the development of efficient TDL solutions. 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
neighbouring countries across the world will lead to an increased demand for
the product across the world.
Increasing
Number of Company Mergers will Aid Growth
The report encompasses several factors that have
contributed to the growth of the overall market in recent years. Among all
factors, the increasing number of company mergers and acquisitions has made the
highest impact on market growth. In February 2017, the US Navy announced that
it has signed a contract with Leonardo Company DRS Technologies Inc. The
company announced that the company will deliver new tactical data link for the
next ten years. The contract is said to be worth USD 22 million. US Navy’s
latest contract with Leonardo Company DRS will not just help Leonardo generate
a massive revenue in the coming years, but will also have a direct impact on
the growth of the overall market in the coming years. The report highlights a
few of the other company mergers and collaborations of recent times and gauges
their impact on the growth of the overall tactical data link market in the
foreseeable future.
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.)
Industry
Developments:
Information Source: -
https://www.fortunebusinessinsights.com/tactical-data-link-market-103189