Global Military Satellites Market Growth Analysis 2024, Forecast To 2033
16 Jan, 2024
The military satellites market has exhibited steady growth, advancing from $60.92 billion in 2023 to $63.66 billion in 2024 at a 4.5% CAGR. Historical growth is driven by global surveillance, communication, navigation, and strategic deterrence. Continued growth is expected, reaching $74.4 billion in 2028 at a 4.0% CAGR. Key drivers include anti-satellite threats, resilience, laser communication, quantum satellite communication, and miniaturization. Notable trends include dual-use satellites, rapid deployment, space traffic management, and international collaboration.
Global Military Satellites Market Key Driver
The military satellite market expands due to heightened concerns about terrorism, driving the need for advanced communication systems. In 2020, there were 10,172 terrorist attacks, resulting in 29,389 fatalities globally. The surge in terrorism-related incidents emphasizes the importance of military satellites, fostering market growth.
Get A Free Sample Of The Global Military Satellites Market ReportGlobal Military Satellites Market Segments
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
By Geography: The regions covered in the military satellites market report are Asia-Pacific, Western Europe, Eastern Europe,North America, South America, Middle East, and Africa. Among these regions
North America was the largest region in the military satellites market in 2023. Asia-Pacific is expected to be the fastest-growing region in the military satellites market during the forecast period. The regions covered in the military satellites market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Major Military Satellites Industry Players
The Boeing Company, Israel Aerospace Industries, Northrop Grumman Corporation, ISS-Reshetnev, Space Exploration Technologies Corp., Lockheed Martin Corporation, Raytheon Company, Thales Group, Mitsubishi Electric Corporation, GE Aviation, Airbus SE, Indian Space Research Organisation, OHB SE, Elbit System Ltd., AeroVironment Inc., Orbital ATK Inc., Cobham Limited, Viasat Inc., Safran Electronics & Defense, Selex ES Inc., Harris Corporation, L3Harris Technologies Inc., Terma A/S, BAE Systems plc, QinetiQ Group PLC, Reutech Radar Systems, Easat Radar Systems Limited, Indra Company, Bharat Electronics Limited, ZTE Corporation, United Technologies Corporation, Saab AB, China Aerospace Science and Technology Corporation, NEC Corporation, Orbital Sciences Corporation
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Military Satellites Market Overview
A military satellite is an artificial earth satellite used for military missions such as intelligence gathering, navigation, and military communications. The capabilities of military satellites include secure in-theater communications, weather and navigational data for ground, air, and fleet operations, as well as threat warning.
Military Satellites Global Market Report 2023 provides data on the global military satellites market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The military satellites market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.