In this paper, we investigate the most commonly adopted networking technology for Network Centric Warfar (NCW), namely Link-16 in the perspectives of physical, data link, and network layers (specifically, strategic message exchanges) and derive its merits with some constraints therein. Furthermore, we perform a quantitative evaluation on its communication capacity, focusing on whether Link-16 can indeed meet the capacity requirements for major operations, based on the time slot structure, NPG, and multi-netting concepts.