Military Satellite Market

Military Satellite Market

Growth Factors of Military Satellite Market

The military satellite market size was valued at USD 15.96 billion in 2023, and the market is now projected to grow from USD 17.14 billion in 2024 to USD 28.13 billion by 2032, exhibiting a CAGR of 6.42% during the forecast period of 2024-2032.

Many changes to aerospace activities occurred during the COVID-19 pandemic last year all over the world. Nonetheless, there was a growth of the usage of nano/ micro spy satellites in orbit and a reduction in the number of med-weight satellites. Aerospace and satellite industry also suffered from problems pointed out by crowding and challenging operational scenarios during the pandemic. Although, there was increased demand for small satellites mainly due to factors such as affordability and flexibility of their structures.

Increasing terrorism, inter and intra state conflicts, and political instabilities are driving the military satellite markets. This need rises from the progressively increasing requirement of secure tactical communication systems to be deployed globally by various defense forces. Military satellites provide timely refresh intelligence, accurate navigation, and reliable communication which are the main aspects in military operations. It is contributing towards the increased usage of modern satellite systems particularly in defense across the globe.

Weight is a very sensitive parameter in the design of the airborne machines, while miniaturization dramatically decreases the loading and size of the components. Nano-microsatellites are lighter and compact which provides higher level of redundancy as well as new design solutions. Their designs are also cheaper and faster to develop, construct and put into space and as such space agencies find them favorable for various missions.

Comprehensive Analysis of Military Satellite Market

The military satellite market growth is also increasing exponentially because of the segmentation of its market. In fact, this market expansion offers a specific regional analysis based on the primary supply and demand forces, which affect the industry. These segmentations are methodically segregated by orbit type analysis, by offering analysis, by type analysis, by application analysis and by component analysis. By orbit type analysis incudes LEO, MEO, and GEO. By offering analysis incudes satellite manufacturing, launch services, and operational services. By type analysis incudes nano-micro, small, medium, and heavy. By application analysis incudes intelligence, surveillance, and reconnaissance (ISR), communication, and navigation. By component analysis incudes structures, payload, electric power system, instrument control unit, propulsion system, thermal control subsystem, communication system, and others.

The North America region lead the military satellite market share by benefitting a market size of USD 6.10 billion in 2023 due to the highest number of military satellites launched from the U.S. Augmented expenditure on space sector.

Top players in the market have their responsibility of aerospace & defence industrial prospectus growth of the retailing industry and the markets. These players include, Airbus, BALL CORPORATION, Boeing, IAI, ISRO, L3Harris Technologies, Inc., Lockheed Martin Corporation, Northrop Grumman, ST Engineering, Thales Group, Viasat, Inc. these market players provide a level-playing competitive landscape.

In September 2021, LIG Nex1 signed a USD 183 million contract with SpaceX to produce communication terminals for a military satellite communication system linked to ANASIS-II.

Segmentation Table

ATTRIBUTE DETAILS

Study Period 2019-2032

Base Year 2023

Estimated Year 2024

Forecast Period 2024-2032

Historical Period 2019-2022

Unit Value (USD Billion)

Growth Rate CAGR of 6.42% from 2024 to 2032

Segmentation

By Orbit Type

- LEO

- MEO

- GEO

By Offering

- Satellite Manufacturing

- Launch Services

- Operational Services

By Type

- Nano-Micro

- Small

- Medium

- Heavy

By Application

- Intelligence, Surveillance, and Reconnaissance (ISR)

- Communication

- Navigation

By Component

- Structures

- Payload

- Electric Power System

- Instrument Control Unit

- Propulsion System

- Thermal Control Subsystem

- Communication System

- Others

By Geography

- North America (Orbit Type; Offering; Type; Application; Component, and Country)

- U.S. (By Type)

- Canada (By Type)

- Europe (Orbit Type; Offering; Type; Application; Component, and Country)

- U.K. (By Type)

- Germany (By Type)

- France (By Type)

- Russia (By Type)

- Rest of Europe (By Type)

- Asia Pacific (Orbit Type; Offering; Type; Application; Component, and Country)

- China (By Type)

- India (By Type)

- Japan (By Type)

- South Korea (By Type)

- Rest of Asia Pacific (By Type)

- Rest of the World (Orbit Type; Offering; Type; Application; Component, and Sub-Region)

- Middle East & Africa (By Type)

- South America (By Type)


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