The global software defined radios market size is prophesied to witness remarkable growth owing to the increasing expenditure on improving the defense communication system of various nations across the globe. The global Software Defined Radio (SDR) Market size was USD 12.45 billion in 2020. The market is projected to grow from USD 11.60 billion in 2021 to USD 16.20 billion in 2028 at a CAGR of 5.3% in the 2021-2028 period. It refers to the segment of the wireless communication industry that deals with radio communication systems that use software to digitize and process radio signals. SDR technology allows for greater flexibility in radio communication, as it can be reprogrammed and configured to operate on different frequencies and protocols. Browse In-depth Summary of This Research Insight: https://www.fortunebusinessinsights.com/software-defined-radios-market-102524 List of Companies Profiled in the Report: BAE Systems (The U.K.) Aselsan (Turkey) Elbit Systems (Israel) General Dynamics (the U.S.) Northrop Grumman (The U.S.) Harris Corporation (The U.S.) Rockwell Collins (The U.S.) Thales Group (France) Leonardo (Italy) Rohde and Schwarz (Germany) Others Drivers & Restraints- Rising Adoption by Residential and Industrial Sectors to Bolster Growth The global software-defined radio market is experiencing significant growth due to several factors, including the increasing adoption of SDR in the telecommunication sector and its technological advancements. The introduction of cognitive radio (CR) and smart processing into SDRs, along with rising government expenditure on the military and defense sector, are also contributing to market expansion. The adoption of SDR across various sectors, including industrial, residential, and commercial, is expected to fuel market growth further. Moreover, the growing need for mission-critical communication is also expected to contribute to market growth in the coming years. On the contrary, high power consumption and interoperability of disparate communication technologies may cause hindrance to the market in the forecast period. Despite this, the growing use of wireless features, and the rising demand for next-generation IP systems are likely to create lucrative growth opportunities for the market in the coming years. Segmentation- Detailed Segmentation of the Software Defined Radios Market include: The software-defined radio industry is segmented based on application, component, platform, frequency band, type, and geography. The application segment is divided into commercial and defense, while the component segment is categorized into auxiliary system, software, receiver, and transmitter. The platform segment includes space, naval, airborne, mobile, fixed, and land. The frequency band is further divided into UHF, VHF, HF, and other bands. The type segment consists of terrestrial trunked radio (TETRA), cognitive or intelligent radio, and joint tactical radio system (JTRS). Industry Developments: April 2016 – A $12.7 billion contract was awarded to Rockwell Collins by the U.S. Army for supplying software-defined radios for military communication under the Handheld, Manpack, and Small Form Factor (HMS) program. October 2017 – A $131.9 million contract was awarded to Thales by the Royal Navy (UK) for supporting the communication systems installed on the HMS Queen Elizabeth Class for a period of 7 years.