According to the new research report “Vehicle Intercom System Market by Application (Military Vehicles, Commercial vehicles, Airport Ground Support Vehicles, Emergency Vehicles), Component, Type (Wired, Wireless), Technology (Analog, Digital), and Region – Global Forecast to 2023, The vehicle intercom system market is projected to grow from USD 845.9 million in 2018 to USD 1180.5 million by 2023, at a CAGR of 6.89 % from 2018 to 2023.
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Based on the application, military vehicle segment is expected to have the highest CAGR of vehicle intercom system market in 2018. Military modernization programs around the world and increasing research and development activities carried out by companies and governments to increase the efficiency and functioning of military vehicles are some of the factors expected to drive this segment.
The handset dismounted interface segment is expected to grow at the highest CAGR during the forecast period, due to the growing demand for wireless communication systems.
Based on type, the wireless segment is projected to grow at a higher CAGR from 2018 to 2023, as compared to the wired segment. Wireless networks allow crew members to move with ease without being tethered to a fixed position. This, in turn, increases the demand for wireless networks.
The European region is expected to lead the vehicle intercom system market in 2018 The European region is projected to lead the vehicle intercom system market during the forecast period. Military upgrades by Russia, UK, France and Germany and the high usage of intercoms in commercial and emergency vehicles in these countries are expected to fuel the vehicle intercom market in this region
Major companies profiled in the vehicle intercom system market report are Cobham Plc. (UK), Harris Corporation (US), David Clark Company (US), Elbit Systems (Israel), and Thales Group (France)