Global Military Satellites Market : Anticipated Growth to $74.4 Billion by 2028, Fueled by Technological Advancements and Strategic Imperatives

Dublin, Jan. 29, 2024 (GLOBE NEWSWIRE) -- The "Military Satellites Global Market Report 2024" report has been added to * ResearchAndMarkets.com's* offering.

In the rapidly evolving defense landscape, the global military satellites market has emerged as a crucial driver of long-term strategic advantage. Offering unparalleled perspective and capabilities, these essential tools are integral to a diverse range of military applications spanning intelligence gathering, navigation, and communication. As terrorism concerns heighten, and the need for effective military communication system deepens, the importance of military satellites becomes more pronounced, a market pattern that is reflected in our comprehensive market report.

Tailored for senior executives, our market report provides an in-depth analysis of this burgeoning industry, including the latest trends, opportunities, and technological advances transforming the space. The report also enlists key industry players and their overarching strategies, helping your enterprise stay abreast with the competitive landscape. Steering clear of vague analysis, our research dives into specific market segments and global geographical spread, ensuring an exhaustive understanding of the military satellites industry. Invest in our research report and claim the edge in this thriving market.

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 observed in the historical period can be attributed to several key factors, including the need for global surveillance, communication and data transfer capabilities, advancements in navigation and GPS technologies, the importance of intelligence gathering, and the role of military satellites in supporting 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 anticipated growth in the forecast period can be attributed to various key factors, including the increasing threats to military satellites, the need for resilience and redundancy in space-based assets, the adoption of laser communication technology, the development of quantum satellite communication, and the trend toward miniaturization and the use of smaller satellites. Significant trends expected in the forecast period encompass the utilization of dual-use satellites, rapid deployment and launch of satellite systems, space traffic management solutions, the establishment of space-based threat warning systems, and an emphasis on international collaboration in space-related endeavors.

The rising global concern regarding terrorism is anticipated to be a significant catalyst propelling growth in the military satellite market. This heightened apprehension has stimulated the demand for enhanced military communication systems among various armed forces worldwide. The deployment of improved military communication networks has become imperative, with military satellites constituting a vital component in these modern systems. Notably, as of October 2021, a report from the Bureau of Counterterrorism, a U.S. government organization focused on bolstering counter-terrorism collaboration with foreign governments, revealed a staggering 10,172 terrorist attacks in 2020. These attacks resulted in 29,389 fatalities, 19,413 injuries, and 4,471 kidnappings. A comparative analysis with 2019 showcases an increase of 1,300 terrorism-related incidents, 3,116 more fatalities, 1,189 fewer injuries, and 1,262 additional kidnappings in 2020, marking a 15% surge in incidents over the previous year. Consequently, the mounting concern regarding terrorism is a driving force behind the expansion of the military satellite market.

The main types of military satellites are small satellites and medium-to-heavy satellites. The various types of payloads include communication payload, navigation payload, imaging payload, and others that are used for intelligence, surveillance, and reconnaissance (ISR), communication, and navigation. A satellite payload refers to the components of a spacecraft that are specifically dedicated to producing mission data and relaying that data back to Earth.

The military satellites market research report is one of a series of new reports that provides military satellites market statistics, including global market size, regional shares, competitors with a military satellites market share, detailed military satellites market segments, market trends and opportunities, and any further data you may need to thrive in the military satellites industry. This military satellite market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future state of the industry.

Anticipated growth in defense expenditure is projected to serve as a driving force behind the expansion of the military satellite market. Defense expenditure encompasses both capital and ongoing expenditures on armed forces, paramilitary forces, and peacekeeping forces engaged in defense programs, as allocated by defense ministries and other government agencies. Allocations toward military satellites within defense expenditure aid in the development, construction, launch, and operation of satellites crucial for a spectrum of military missions, ensuring secure and reliable communication services for armed forces. Notably, a report by the U.K.'s Ministry of Defence in December 2022 highlighted an overall upsurge in military spending for the fiscal year 2021-2022, totaling £45.9 billion ($58.35 billion), marking a £3.6 billion ($4.57 billion) increase from the previous year. Moreover, the specific equipment expenditure for 2021-2022 amounted to £20.9 billion ($26.57 billion), reflecting a slight increase of £2.1 billion ($2.66 billion) from the preceding year. Therefore, the anticipated rise in defense expenditure is poised to fuel the growth of the military satellite market.

The elevated cost associated with military satellites is expected to impede the progression of the military satellite market over the forecast period. Military satellites, serving military purposes, are notably expensive devices both in terms of construction and launch expenditures. For instance, the comprehensive expenses related to military communications satellites entail over $95 million for release and launch insurance, $20 million for in-orbit insurance, $15 million for operational costs, and an additional $150 million for the spacecraft itself, summing up to a total cost of $300 million. Consequently, the substantial financial outlay required for military satellites stands as a significant constraint, restraining the potential growth of the military satellite market.

The evolution of technology stands as a defining force in shaping the landscape of the military satellite market. Key enterprises within this sector are diligently engaged in crafting cutting-edge technological solutions tailored specifically for military satellite applications. Notably, SmartSat CRC, an Australian-based space research center, introduced the Compact Hybrid Optical-RF User Segment (CHORUS) prototype terminal for military satellite communications in May 2023. This innovation seamlessly merges radio frequency (RF) communications with optical communication technology, significantly elevating data transmission rates while concurrently reducing the likelihood of interception compared to conventional civilian and military RF satellite communications. CHORUS is engineered to be more portable and compact, facilitating easier deployment in remote and challenging terrains.

Prominent companies operating within the military satellite market are actively focusing on pioneering product development, such as the creation of anti-jam payloads, aimed at furnishing customers with reliable services. An anti-jam payload serves as a safeguard mechanism shielding satellite communications from jamming disruptions. Boeing Co, a US-based corporation renowned for its provision of commercial airplanes, defense, space, and security systems, unveiled the Protected Tactical SATCOM Prototype (PTS-P) payload in April 2023. This pioneering design incorporates automated anti-jamming features, including jammer geolocation, real-time adaptive nulling, frequency hopping, and other sophisticated techniques. Leveraging the potency of the U.S. military's Protected Tactical Waveform (PTW), this innovation ensures seamless connectivity for the warfighter, even within contested environments.

In May 2021, OneWeb, a US-based satellite internet company, completed the acquisition of TrustComm for an undisclosed sum. This strategic acquisition aims to empower OneWeb in delivering an array of enhanced services to the US Department of Defense and other government clients. The suite of services offered by OneWeb is intended to include network speeds of up to 195Mbps, reduced latency, more compact and smaller multi-orbit user terminals, and integrated network management tools. TrustComm, a US-based commercial satellite communications provider, plays a pivotal role in this strategy to bolster satellite communication capabilities for government and defense purposes.

Major companies operating in the military satellites market include 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

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

The countries covered in the military satellites market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada

The military satellite market consists of sales of various satellites for military applications such as military reconnaissance satellites, navigation satellites, early warning systems, and military communication satellites. Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

*Scope*

· *Markets Covered:* 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
· *Companies Mentioned:* The Boeing Company; Israel Aerospace Industries; Northrop Grumman Corporation; ISS-Reshetnev; Space Exploration Technologies Corp.
· *Countries:* Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
· *Regions:* Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
· *Time series:* Five years historic and ten years forecast.
· *Data:* Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
· *Data segmentations:* Country and regional historic and forecast data, market share of competitors, market segments.
· *Sourcing and Referencing:* Data and analysis throughout the report is sourced using end notes.
· *Delivery format:* PDF, Word and Excel Data Dashboard.

*A selection of companies mentioned in this report includes*

· 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

For more information about this report visit https://www.researchandmarkets.com/r/zbfl8b

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