According to Fortune Business Insights, the global military communications market was valued at USD 33.12 billion in 2023 and is projected to grow from USD 34.74 billion in 2024 to USD 60.40 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 7.2% during the forecast period. This significant growth is primarily driven by the rapid integration of wireless communication systems, secure satellite networks, and modern battlefield management tools across defense forces worldwide.
Fortune Business Insights highlights that the growing importance of real-time, secure, and multi-domain communication infrastructure is a key force behind this market expansion. In 2023, North America dominated the global military communications market, accounting for a market share of 31.49%, attributed to robust defense spending, advanced technological infrastructure, and the presence of major defense contractors.
The market is highly consolidated, with key players focusing on R&D, strategic collaborations, and government defense contracts to expand their portfolio. Leading companies include:
These firms are adopting a mix of organic growth strategies (such as new product development) and inorganic strategies (including mergers and acquisitions) to strengthen their global footprint.