Military Satellite Market Globally Expected To Drive Growth through 2017 – 2025
Posted by harshal on June 13th, 2019
Military satellites are artificial satellites used for defense applications. The growing concern for security has resulted into the need for constant surveillance and monitoring. The global market for military satellite is expected to grow significantly during the forecast period.
There are several factors associated with the growing demand for military satellites. These satellites can help in constant surveillance. Furthermore, the growing demand for unmanned aerial vehicles has resulted into the need for constant guidance and navigation in order to avoid mid air collision. The military satellites are an effective medium for guiding the UAVs. Moreover, these satellites are able to cover a larger area and can even provide communication to remote locations. Furthermore, the military satellites have highly flexible networking and can be used from moving platforms such as aircrafts, vehicles and ships. In addition, the growing concern for terrorism globally has driven the need for tactical communication systems to be deployed by most of the military forces across the world. The tactical communication systems help in providing secured communication platform between the military troops. Military satellites are an integral part of any tactical communication systems. Thus, the growing demand for these communication systems is further driving the demand for military satellites largely.
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However, there are certain restraints which are hindering the growth of the market. There is time gap while communicating through satellites which can be very risky during combats. Furthermore the satellite needs to stay in its own orbit in order to function properly. In addition, a satellite cannot be repaired once it is launched. Another major factor is the high cost of military satellites which might not be feasible for underdeveloped nations. The above mentioned issues are some of the key reasons pulling down the growth of the market. Nevertheless the ongoing research and development in defense sector is expected to lower the prices of the satellites in the near future. In addition, the repair of satellites is expected to be possible in future with the help of manned space ships.
The global military satellites market can be segmented into types and geography. By types, the military satellites can be categorized into ISR, communication and navigation satellites. The demand for communication and navigation satellites is expected to remain high during the forecast period. The deployment of unmanned aerial vehicles in defense is expected to drive the need for collision avoidance systems and tactical communication systems. This in return is expected to drive the demand for communication and navigation satellites during the forecast period. However, the demand for ISR satellites is expected to grow robustly during the forecast period. The growth of these satellites is attributed to the use of these satellites for surveillance especially by countries such the U.S. and the U.K. to control terrorist activities.
By geography, the market can be bifurcated into five strategic regions which include North America, Europe, Asia Pacific, Middle East and Africa and Latin America among others. North America is expected to have the largest market for military satellites. The presence of developed countries such as the U.S. and Canada is primarily driving the demand for military satellites in this region. Moreover, these countries focus on maintaining their defense abilities. Europe is expected to grow significantly owning to the presence of countries such as Germany, France and the U.K. which focus on investing heavily towards keeping their defense sector updated with the latest weapons and equipments. However, Asia Pacific has been identified to be the most attractive region during the forecast period. The emerging economies such as China and India are investing heavily in order to upgrade their defense sectors.
The major players in the military satellites market include Boeing, Northrop Grumman, Raytheon, Israel Aerospace Industries and Thales among other players. The other emerging players are Lockheed Martin Corporation, GE Aviation, ViaSat and SpaceX among others.
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About the Authorharshal
Joined: May 14th, 2019
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