Military Satellite Market to register a CAGR of 6%

2 min read

Military Satellite Market

1. Implementation of AI in Satellite Communication to be a Major Trend in the Coming Decade

The market prospects for applying machine learning to satellite imagery is very favorable. Major leaps and bounds in machine learning over the past decade has made its application in satellite technology possible. Challenging situations, such as allowing more communications to run concurrently and improved radio operating, are some of the major application areas in the sector. Applying artificial intelligence and machine learning allows satellites to control communication systems seamlessly, making real-time decisions without awaiting instruction.

Speak to our Research Analyst to know more about the Market Trends and Market Share.

2. Growth in the Nano and Micro-satellites Segment

Nano- and micro-satellites range between 1-10 kg and 10 – 100 kg, respectively. These satellite sizes are the fastest-growing segments of the satellite industry. Their ease to build and lower operating and manufacturing costs are making them immensely popular in military applications. The factors driving this sector include diminishing manufacturing, launching costs, increased investment in R&D by both public and private players, rising acceptance of satellite constellation approach, and major upcoming mission dispatches. The market is expected to register a CAGR of 23.5% during the forecast period of 2018–2023.

Nano Micro Satellites Launches - Global Military Satellite Market

Number of Nano and Micro-Satellites Launches

3. North America Expected to Lead the Military Satellite Market

North America, followed by Europe, is currently leading the global market in terms of market share. In 2017, North America was the largest market for military satellites. Factors, such as the growing need for surveillance capabilities and protection from enemy attacks using electronic countermeasures, are expected to foster the adoption of military satellites in this region during the forecast period.

4. Demand for C4ISR Systems

Militaries across the globe are strengthening C4ISR systems that essentially need strong and secure communication channels accessible from anywhere by the defense forces. The C4ISR system’s market is slated to grow in view of the increasing demand for better security, control, and coordination. This is anticipated to increase the demand in favor of military communication and ISR satellites during the forecast period.

Ask our Research Analyst to know more about Market Segmentation including Drivers, Restraints, and Opportunities

5. Leading Companies in the Military Satellite Market

The report also examines the role of the leading market players involved in the industry. Some of the key players listed in the study are:

Airbus Defense and Space

Alcatel Space

Boeing Space Systems

Space X

BAE Systems

Key players are focused on the manufacture of nano and micro-satellites, IoT technologies, and developing reusable launch vehicles. SpaceX Falcon 9 rocket launched 10 new communications satellites into orbit using reusable rockets on March 30, 2018, marking a major milestone for the reusable launch vehicles’ application for the satellite industry.

Access the full report on Military Satellite Market to know more about each Key Player, and its Competition.

About the Military Satellite Market

The market is expected to witness a CAGR of about 6% over the forecast period. Military satellites are a measure of the nation’s military strength, operability, and the ability to attack or defend itself. These satellites give the military real-time data of movement of troops and regarding the arsenal at enemy borders. They also facilitate high bandwidth communication over secure channels, track and target enemy encroachment or intruding vehicles, and other military functions.

Get the FULL REPORT from Mordor Intelligence to know more about the Military Satellite Market.

Mordor Intelligence is a market intelligence and advisory firm operating in 14 industry segments, serving over 600 clients, worldwide.

Divya Basuti
Divya Basuti Divya is a Market Research Analyst with Mordor Intelligence. She is a big-picture thinker with a post-graduate degree from the Institute of Science and Technology and an inclination toward interdisciplinary and applied sciences. Divya is dedicated to providing insightful and practical research to the industry through investigating trends and analyzing data.
Divya Basuti Divya is a Market Research Analyst with Mordor Intelligence. She is a big-picture thinker with a post-graduate degree from the Institute of Science and Technology and an inclination toward interdisciplinary and applied sciences. Divya is dedicated to providing insightful and practical research to the industry through investigating trends and analyzing data.  

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