The global terrestrial trunked radio (TETRA) market size is expected to gain momentum by reaching USD 9.78 billion by 2028 while exhibiting a CAGR of 18.50% between 2021 to 2028. In its report titled “Terrestrial Trunked Radio (TETRA) Market, 2021-2028,” Fortune Business Insights™ mentions that the market stood at USD 2.46 billion in 2020 and USD 2.98 billion in 2021.
This market research report provides a comprehensive analysis of key market trends, including market size, growth rate, and competitive landscape. This report also highlight emerging technologies and trends that are shaping the industry. Additionally, this market research report also provides insights into key consumer segments, including agencies, commercial airlines, and private space companies, and how their needs and preferences are evolving over time.
Increase in Demand of Defense IT Expenditure in Asia Pacific
The growing defense budget and increased expenditure on military and combat capabilities in developing nations is anticipated to boost the terrestrial trunked radio (TETRA) market growth. For instance, many governments of Asian countries put up around USD 505 billion for the defense sector in 2020. This was 4.3% more than the previous year. Additionally, governments are also working towards cybersecurity. For instance, in June 2020, the Australian government spent USD 1.35 billion towards improving the country’s cybersecurity abilities during the upcoming decade. These factors will propel the demand for in the near future.
List of Key Players Profiled in TETRA Industry Report
Airbus Defense and Space Corporation (U.K.)
Motorola Solutions, Inc. (U.S.)
Hytera Communications Corporation Limited (China)
JVCKENWOOD Corporation (Japan)
Sepura PLC (U.S.)
DAMM Cellular Systems A/S (Denmark)
Rohill Engineering B.V. (Netherlands)
BiTEA Limited (U.K.)
CONSORT DIGITAL PRIVATE LIMITED (U.K.)
Radlink Communications (Australia)
By Operation it is divided into trunked mode operation and direct mode operation. By component it is bifurcated into hardware and software. By mounting type it is divided into portable and mobile (Vehicular mounted)). By application it is segmented into industrial, utilities, transportation, mining, military, homeland security, fire department, and emergency medical services. Finally, based on region, the market is categorized into North America, Europe, Asia Pacific, and Rest of the World.
The report uncovers following points:
Renowned insights into the industry
Important data with in-depth research
Factors exhibiting market growth
A comprehensive study about main regions
COVID-19 impact on the market
Prime developments in the industry
Europe to Dominate Backed by Presence of Several TETRA Providers in Region
Europe is expected to remain at the forefront and hold the highest position market during the forecast period owing to the presence of several TETRA devices providers. In addition, the availability of advanced network infrastructure facilities and various providers such as Airbus Defense and Space Corporation, Inc., Sepura PLC, Rohill Engineering B.V., and Bitea Limited is expected to promote the regional market. The region’s market stood at USD 0.95 billion in 2020.
Asia Pacific is expected to showcase significant terrestrial trunked radio (TETRA) market share in upcoming years, owing to the continuous development by the government on improving the military communication ecosystem in the region. Additionally, the increasing investment and expenditure on setting up software-defined radio (SDR) for efficient data transmission and communication clarity on the battlefield is driving the regional market.