The Military Satellites Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2011-2022) and extends its insights into a ten-year forecast period (2024-2033).
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According to The Business Research Company’s Military Satellites Global Market Report 2024, The military satellites market size has grown steadily in recent years. It will grow from $60.92 billion in 2023 to $63.66 billion in 2024 at a compound annual growth rate (CAGR) of 4.5%. The growth in the historic period can be attributed to global surveillance, communication and data transfer, navigation and gps, intelligence gathering, strategic deterrence
The military satellites market size is expected to see steady growth in the next few years. It will grow to $74.4 billion in 2028 at a compound annual growth rate (CAGR) of 4.0%. The growth in the forecast period can be attributed to anti-satellite threats, resilience and redundancy, laser communication technology, quantum satellite communication, miniaturization and smaller satellites. Major trends in the forecast period include dual-use satellites, rapid deployment and launch, space traffic management, space-based threat warning systems, international collaboration.
The increasing concern about terrorism is expected to fuel the growth of the military satellite market. The growing concern about terrorism has motivated the need for military forces around the world to deploy better military communication systems. Military satellites are an important part of modern military communication networks. For instance, in October 2021, according to a report published by Bureau of Counterterrorism, a US-based government organization to improve counter-terrorism cooperation with foreign governments, there were 10,172 terrorist attacks in 2020, which led to 29,389 fatalities, 19,413 injuries, and 4,471 kidnappings. In comparison to 2019, there were 1,300 more terrorism-related incidents, 3,116 more fatalities, 1,189 fewer injuries, and 1,262 more kidnappings in 2020. The number of incidents in 2020 will be 15% more than in 2019. Therefore, the increasing concern about terrorism drives the growth of the military satellite market.
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The military satellites market covered in this report is segmented –
1) By Satellite Type: Small Satellite; Medium-To-Heavy Satellite
2) By Payload Type: Communication Payload; Navigation Payload; Imaging Payload; Others
3) By Application: Intelligence, Surveillance, And Reconnaissance (ISR); Communication; Navigation
The military satellites market report table of contents includes:
1. Executive Summary
2. Military Satellites Market Characteristics
3. Military Satellites Market Trends And Strategies
4. Military Satellites Market – Macro Economic Scenario
5. Global Military Satellites Market Size and Growth
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26. South America Military Satellites Market
27. Brazil Military Satellites Market
28. Middle East Military Satellites Market
29. Africa Military Satellites Market
30. Military Satellites Market Competitive Landscape And Company Profiles
Top Major Players:
- The Boeing Company
- Israel Aerospace Industries
- Northrop Grumman Corporation
- ISS-Reshetnev
- Space Exploration Technologies Corp
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