New York, US, June 22, 2023 (GLOBE NEWSWIRE) -- According to a Comprehensive Research Report by Market Research Future (MRFR), “Military Satellite Market Information by Orbit Type, Payload Type, Satellite Type, System, Application, and Region - Forecast till 2032”, The global market will touch USD 54.6 billion at a 4.90% CAGR by 2032, as per the recent Market Research Future report.
Military satellites play a crucial role in modern warfare by providing various capabilities for surveillance, communication, navigation, and reconnaissance. These satellites are equipped with high-resolution cameras and sensors to capture imagery and collect data for intelligence purposes. They provide real-time or near-real-time information on potential threats, military activities, and monitoring of specific regions of interest.
Military communication satellites facilitate secure and reliable communication between military units, commanders, and headquarters. They enable voice, data, and video transmission, ensuring encrypted and jam-resistant communication capabilities even in remote or hostile environments.
Military Satellite Market Overview
COVID-19 Analysis
The epidemic has delayed the development and introduction of military satellites by disrupting supply networks and production procedures. Delays have also been exacerbated by travel restrictions and social segregation policies that have made it difficult to perform on-site inspections and testing. The necessity of safe and dependable communication networks for the military operations has been brought to light by the epidemic. There is an increasing demand for the satellite-based communication systems to guarantee uninterrupted connectivity and information sharing due to the rise of distant work and reliance on virtual communication.
The COVID-19 situation has been monitored and responded to with the use of satellite images. It has been used for a number of things, including as monitoring the virus's transmission, evaluating the effect on infrastructure, and supporting relief efforts. The importance of satellite imagery especially for crisis management & catastrophe response has been highlighted by this experience, suggesting future developments in this field. The epidemic has brought to light the value of cross-border cooperation and information exchange in resolving global issues. Countries may look into collaborations and information-sharing agreements in the military satellite sector to enhance the efficiency of defense communications, intelligence gathering, and surveillance activities.
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Report Scope:
| Report Attribute | Details |
| 2030 Market Size | USD 54.6 Billion |
| CAGR | 4.90% (2023-2032) |
| Base Year | 2022 |
| Forecast Period | 2023–2032 |
| Historical Data | 2021 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | By Orbit Type, Payload Type, Satellite Type, System, Application, and Region |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Market Drivers | Rising Security Concerns and a Requirement for Dependable Surveillance |
Key Players
Eminent industry players profiled in the global military satellite market report include:
- Viasat Inc. (US). AeroVironment (US)
- Thales Group (France)
- The Boeing Company (US)
- SpaceX (US)
- Lockheed Martin Corporation (US
- GE Aviation (US)
- Raytheon Company (US)
- Northrop Grumman Corporation (US)
- Among others.
Drivers
Growing Demand for Geospatial Intelligence to Boost Market Growth
The use of geospatial intelligence is essential in military operations. It entails gathering, analyzing, and interpreting spatially linked data to assist in decision-making. Military satellites with cutting-edge sensors and imaging systems offer high-resolution imagery, the real-time surveillance, & reconnaissance capabilities, allowing military forces to gather useful information on potential threats, watch activities, and more precisely plan operations.
Opportunities
Increasing Awareness about the Benefits of Satellite Constellations to offer Robust Opportunities
Military satellite constellations include benefits such as greater data collecting capacity, decreased latency, improved responsiveness, and higher resilience against possible assaults. There are several military uses for satellite constellations, including communications, surveillance, and military navigation.
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Restraints and Challenges
High Cost to act as Market Restraint
The high cost of military satellite systems, regulatory challenges, technological challenges, limited spectrum & orbital slots, and sustainability concerns may act as market restraints over the forecast period.
Market Segmentation
The global military satellite market is bifurcated based on application, system, satellite type, payload type, and orbit type.
By orbit type, the market is bifurcated into geosynchronous orbit, medium earth orbit, and low earth orbit.
By payload type, the market is bifurcated into imaging payload, navigation payload, communication payload, and others.
By satellite type, the market is bifurcated into medium to heavy satellite and small satellite.
By system, the market is bifurcated into SATCOM, radar, and electroOptic/Infrared sensor
By application, communication networks will lead the market over the forecast period.
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Regional Analysis
APAC to Head Military Satellite Market
With over 40% of the market's revenue coming from this region, it dominates the market with regards to revenue share. The area is projected to continue its dominance during the anticipated time due to the increased need for satellite communication services. Additionally, it is anticipated that greater expenditures by companies like Boeing and Airbus would foster growth in this area. It is anticipated that the Asia-Pacific market would expand quickly over the projected period. The governments of China, India, and Japan are investing more in the space sector as a result of the region's ongoing geopolitical conflicts in order to provide mission-critical data such as ISR, navigation, & military communications that are anticipated to fuel market growth over the course of the forecast period. A number of nations, including China and India, have boosted their defense spending year after year in order to acquire ISR capabilities that deliver precise, coherent, & high-resolution intelligence information especially for crucial tasks. These new improvements should accelerate market expansion.
North America to Have Admirable Growth in Military Satellite Market
The United States dominates the military satellite business in North America. A wide variety of military satellites, including surveillance satellites, are operated by the U.S. Department of Defence (DoD). The Defence Support Program, Space-Based Infrared System, and Geosynchronous Space Situational Awareness Program are a few of the famous surveillance satellites run by the United States. The creation and management of secret spy satellites is the responsibility of the United States National spy Office (NRO). These spacecraft, sometimes known as spy satellites, collect extremely sensitive data to help national security goals. The North American military satellite industry is distinguished by cutting-edge technology, significant investment, and an emphasis on preserving a competitive advantage.
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