5G in defense market to reach $8,952.30 million by 2027
The global 5G in defense market reached a value of $765.2 million in 2021, and looking forward, the market is set to reach a value of $8,952.30 million by 2027 exhibiting a CAGR of 48.50% during 2022-2027, according to ResearchAndMarkets.
Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic. These insights are included in the report as a major market contributor.
5G refers to the fifth-generation mobile network technology that carries wireless communication and connects objects, machines, people, and devices. It comprises various networks, such as enhanced mobile broadband (eMBB), massive machine type communication (MMTC), and ultra-reliable low-latency communications (URLLC).
Consequently, it finds widespread applications across various industries. For instance, particularly in the defense sector, 5G is widely used to improve and process intelligence, surveillance, and reconnaissance (ISR) systems, streamline logistics systems and enable new methods of command and control (C2).
It further assists in quick response time and faster transmission of videos and images to achieve real-time battlefield results. The network is also widely used to provide enemy infantry real-time operation information at inconvenient, dangerous, and remote areas.
It is also utilized to transmit data over various wireless broadband connections to enhance speed and bandwidth at a multigigabit speed. It also offers ultra-low latency, enhanced network capacity, uniform user experience, high-speed data, and increased reliability.
5G in defense market trends
The widespread adoption of autonomous defense vehicles and robots in the defense sector is one of the key factors primarily driving the market growth. Additionally, the rising use of 5G in radars to detect and track multiple targets and the surging numbers of cross-border and territorial conflicts are favoring the market growth.
Moreover, various technological advancements, such as the integration of the Internet of Things (IoT), which enables the communication between multiple sensors and connected devices and facilitates high-speed data connectivity, are boosting the market growth.
5G services are rapidly being adopted in augmented reality (AR) for efficient maintenance of gadgets, vehicles, and equipment to train military personnel, which is positively impacting the market growth.
Apart from this, the rapid upgradation of defense infrastructure and the implementation of various government initiatives to support 5G technology are some of the factors creating a positive outlook for the market.