Dublin, Jan. 26, 2021 (GLOBE NEWSWIRE) — The “Software Defined Radio Market by Platform (Land, Airborne, Naval, Space), Application (Defense, Commercial), Type (General Purpose Radios, Cognitive/Intelligent Radio, Terrestrial Trunked Radio), Frequency Band, Component and Region Global Forecast 2025” report has been added to ResearchAndMarkets.com’s offering.
The global software defined radio market is estimated to be USD 11.4 billion in 2020 and is projected to reach USD 14.5 billion by 2025, at a CAGR of 4.9% during the forecast period.
Factors such as the rising adoption of SDRs in telecommunications and numerous technological developments in software-defined radios are likely to drive the market growth. The increasing demand for software-defined radios in advanced communication systems utilized for important missions in the aerospace sector will spur market growth.
COVID-19 has affected the software-defined radio market growth to some extent, and this varies from country to country. Industry experts believe that the pandemic has not majorly affected the demand for software-defined radio in defense applications.
The software-defined radio market includes major players such as Elbit Systems Ltd. (Israel), Thales (France), Northrop Grumman Corporation (US), Raytheon Technologies Corporation (US), L3Harris Technologies, Inc (US), General Dynamics Corporation (US), and BAE Systems (US). Among others. These players have spread their business across various countries includes North America, Europe, Asia Pacific, Middle East,