Market Research Report
The Global Military Satellite Market 2017-2027
|Published by||Strategic Defence Intelligence||Product code||260621|
|Published||Content info||138 Pages
Global Military Satellite market, valued at US$7.9 billion in 2017, is projected to grow at a CAGR of 2.50%, to value US$10.1 billion by 2027. The cumulative market for global expenditure on Military Satellite systems is valued at US$93.3 billion over the forecast period. Global expenditure on Military Satellite systems is expected to show robust growth over the forecast period, primarily due to the increased importance of Military Satellite systems in modern or fourth-generation warfare.
The market for ISR Satellites is anticipated to be bigger than other categories because of the increase in demand for data transfer bandwidth, due to the widespread use of UAVs and the need for expeditionary forces to stay connected to the command center. A significant portion of military expenditure is also expected to be directed towards commercial satellite service providers that enable communications and ISR capabilities. However, the high costs associated with military satellite programs are still impeding the smaller nations to spend on acquiring space based capabilities.
The global Military Satellite Systems market is expected to be led by North America with a share of 39.2% over the forecast period, followed by Europe with 29.3% and Asia-Pacific with a share of 21.1%. The Middle Eastern market is expected to account for 5.5%, followed by Latin America with 3.3%, and the African markets with a share of 1.6%.
Over the forecast period, governments are expected to invest in cheaper alternatives such as microsatellites. This class of satellites is much cheaper and faster to design, build, and launch, although the reliability and longevity of these systems has not been proved yet. One of the reasons for their rapid development timelines is the use of commercial-off-the-shelf (COTS) technology, which makes the assembly of these satellites simple and fast. With pressure on a number of major defense spending countries to reduce defense spending, these satellites are expected to be a major area for investment as they accomplish most of the tasks performed by traditional satellites.
The report "The Global Military Satellite Market 2017-2027" offers detailed analysis of the global Military Satellite market over the next 10 years, and provides market size forecasts. Furthermore, it covers key technological and market trends in the industry and analyzes factors influencing demand for Military Satellite systems. Additionally, the report highlights challenges faced by industry participants.
In particular, it provides an in-depth analysis of the following -
The global military satellite market is expected to grow at a CAGR of 2.50% over the forecast period.
The market consists of three categories: ISR, Communication, and Navigation satellites. It is expected to be dominated by the ISR Satellites segment, followed by Communication and Navigation segments. The North American region is forecasted to dominate the sector with a share of 39.2%, followed by the European market, which is dominated by Russia and France. China and India account for major market share in the Asia Pacific region.