Military satellite market is anticipated to grow at a CAGR of 6.7% during the forecast period. One of the core factors that is fuelling the market growth is the rising tensions between countries in the past few years. Rising tension between countries such as the US, China, India, Russia, and others has been witnessed which has increased the demand for their security at the borders. Such countries have increased the use of satellite that can map, navigate the borders, and inform the officials if notices some suspicion on the border. For instance, in November 2021, as per China Aerospace Science and Technology Corp., China launched 2 Yaogan 32-class military satellites for remote sensing applications on board a Long March 2C rocket.
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COVID-19 pandemic had a significant impact on the financial investments of countries across the globe. It also restricted the manufacturing of subsystems, satellites, and components owing to the lockdown across the globe which dented the supply chain, material availability, transportation, and limited workforce. Although military satellite systems are critically important, the disruptions, and declined defense budget delayed the scheduled launches. However, the situation between some countries also got tense which boosted the demand for military satellites. For instance, in January 2022, the Indian Space Research Organisation (ISRO) planned to launch 5 satellites in the next 3 months which were halted due to the COVID-19 pandemic.
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- Market Coverage
- Market number available for – 2023-2029
- Base year- 2022
- Forecast period- 2023-2029
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
- , and others
Market Segmentation
Global Military Satellite Market by Satellite Type
- Small Satellite
- Large Satellite
Global Military Satellite Market by Orbit Type
- Low Earth Orbit
- Geosynchronous Orbit
Global Military Satellite Market by Application
- ISR
- Communication
- Navigation
Regional Analysis
- North America
- US
- Canada
- UK
- Germany
- Italy
- Spain
- France
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
- Rest of the World
Company Profiles
- Elbit Systems Ltd.
- GomSpace Group AB
- Honeywell International Inc.
- Indian Space Research Organisation (ISRO)
- L3Harris Technologies, Inc.
- Mitsubishi Electric Corp.
- OHB SE
- Planet Labs PBC.
- Raytheon Technologies Corp.
- Sierra Nevada Corp.
- Space Exploration Technologies Corp.
- Spire Global, Inc.
- Viasat, Inc.
The Report Covers
- Market value data analysis of 2021 and forecast to 2028.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global military satellite market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
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