Global Software Defined Radio Market to Rise at a CAGR of 4.4% and Surpass $16,455.8 Million by 2027, Owing to Technological Advancements
Software defined radio (SDR) is a collection of software and hardware technologies, wherein all or some of the radio’s operating functions are adopted through variable software or firmware working on programmable processing technologies. Also known as ‘Software Radio’ SDR is a radio communication device that wirelessly transmits and receives signals via radio frequencies. SDR devices include field-programmable gate arrays (FPG), general purpose processors (GPP), digital signal processors (DSP), programmable system on chip (SoC), and others.
Impact of COVID-19 on the Market
The outbreak of COVID-19 has had a negative impact on the global software defined radio market. The industrial production has been hampered during the pandemic owing to closing down of offices and production plants around the world to curb the spread of the deadly virus. A number of sectors such as shipping, commercial aviation, and others were affected by the pandemic, mainly because software defined radios are utilized in maritime communication and commercial aviation in radio communications. In addition, the reduction in travel has led to decrease in the utilization of the software defined radios.
However, the leading companies of the software defined radio market are taking strategic steps to sustain in the trying times. For instance, in July 2020, BAE Systems, the British multinational security, arms, and aerospace company, delivered the next-generation radiation-hardened SDRs to Lockheed Martin Space. Enabled by RAD5545 computer, these SDRs provide spacecraft with improved performance, availability, reliability, and on-board signals processing capacity, which is needed to support future space missions.
Key Developments in the Industry
The companies operating in the global industry are adopting various growth strategies and business tactics such as mergers & acquisitions, business expansion, partnerships, and product launches to acquire a leading position in the global market, which is predicted to consequently help the software defined radio market to grow exponentially in upcoming years.
For instance, in April 2019, BAE Systems announced the launch of its new general software-defined radio (SDR) assembly for high reliability commercial and the Department of Defense space applications. The SDR integrates BAE’s ‘RAD5545 Single Board Computer (SBC)’ with advanced FPGA- (field programmable gate array) based transceivers, which enables unparalleled flexibility, increased capacity for signals processing, and on-orbit reprogrammability. The SDR assembly will allow customers to apply their spacecraft to multiple missions.
In September 2020, Collins Aerospace, a subsidiary of Raytheon Technologies Corporation, supplied 11,313 AN/ARC-210(v) SDRs (software defined radios) to the domestic and foreigh military sales customer, under a $317 million contract modification from the U.S. Navy. According to the Department of Defense, the radios are to be installed in more than 400 ground, maritime, and airborne platforms.
Forecast Analysis of Global Software Defined Radio Market
The global software defined radio market is anticipated to witness a striking growth over the forecast period, owing to growing adoption of software enable radio (SDR) communication in the commercial sector, such as oil & gas exploration sector, cargo transportation, mining, navigation, commercial aviation, and other sectors. On the other hand, the possibility of security breach during SDR installation, or tracking of the SDR device resulting in unwanted consequences for the organization may hamper the market growth in the estimated timeframe.
The rising demand from armed forces worldwide for protected & secure transmission of confidential information is the significant factor estimated to fuel the growth of the global market in the coming future. According to a latest report published by Research Dive, the global software defined radio market is expected to garner $16,455.8 million during the forecast period (2020-2027). Regionally, the North America region is estimated to hold a dominant position in the global industry, mainly due to the presence of countries with highest military expenditure such as U.S. and well-established defense industry in the region. Key Players are
- Northrop Grumman.
- L3Harris Technologies, INC.
- General Dynamics Corporation
- BAE Systems.
- Thales Group
- Leonardo S.p.A.
- Elbit Systems Ltd.
- Rohde & Schwarz
- Texas Instruments Incorporated.
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