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The global military antenna market size is expected to showcase considerable growth by reaching USD 6.28 billion by 2028. This information is published by Fortune Business Insights in its report, titled “Military Antenna Market Size, Share & COVID-19 Impact Analysis, By Frequency (High, Ultra-High, Super High, and Extremely High Frequency), By Type (Dipole, Aperture, Travelling Wave, Loop, and Array Antenna), By Platform (Airborne, Marine, and Ground), By Application (Communication, Surveillance, SATCOM, Electronic Warfare, and Telemetry), and Regional Forecast, 2021-2028” The report further observes that the market stood at USD 3.25 billion in 2020 and is projected to exhibit a CAGR of 9.52% between 2021 and 2028.
Raytheon Secured DARPA Contract to Develop Phased Array Antenna Techno Solution
In January 2021, Raytheon Technologies secured a USD 12.7 million worth contract from the Defense Advanced Research Projects Agency (DARPA). The contract revolves around developing advanced phased array antenna technology for the second phase of DARPA’s Millimeter-Wave Digital Arrays program. In addition to this, the company further informs that the technology will open up several capabilities such as effective communications, radars, and electronic warfare for the smaller platforms.
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Increasing Adoption of Smart Antennas to Promote Growth
The growing demand for efficient wireless communication systems for operational efficiency by the defense forces globally is propelling the demand for advanced antennas. These smart antennas aid in automatic optimizing of radiation and reception patterns with effective signal processing algorithms. Besides, they provide optimum quality of wireless communication that helps to minimize errors and efficiently manage incoming signals. It also allows customization of data signals that provides better field monitoring capabilities for military troops during surveillance operations and battlefields. Therefore, the growing adoption of smart antennas is expected to boost the global military antenna market growth during the forecast period.
Merger and Acquisition by Major Companies to Intensify Industry Competition
The global market comprises small, medium, and large companies striving to maintain their presence by adopting several organic and inorganic strategies. The established players are focusing on acquiring other small companies to expand their product portfolio that will bode well for the growth of the market in the forthcoming years. Additionally, several companies are signing lucrative contracts with either the government or private companies to develop advanced military equipment to maintain their presence in the fiercely competitive landscape.
List of the Companies Profiled in the Global Market:
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Value (USD Billion)