Lucintel Forecasts Global Military Satellite Market to Reach $32.7 billion by 2030.
According to a market report by Lucintel, the future of the global military satellite market looks promising with opportunities in the intelligence, surveillance, and reconnaissance (ISR), communication, and navigation markets. The global military satellite market is expected to reach an estimated $32.7 billion by 2030 with a CAGR of 6.2% from 2024 to 2030. The major drivers for this market are rising need for constant surveillance and monitoring owing to security concerns, expanding use of AI in satellite manufacturing, as well as, improved data processing, laser communication technologies, and transmission capacity in military satellite.
A more than 150 – page report is developed to understand Trends, opportunity and forecast in military satellite market to 2030 by component (structures, payload, electric power system, and instrument control unit, propulsion system, thermal control subsystem, communication system, and others), offering (satellite manufacturing, launch services, and operational services), type (nano-micro, small, medium, and heavy), application (intelligence, surveillance, and reconnaissance (ISR), communication, and navigation), , and region (North America, Europe, Asia Pacific, and the Rest of the World).
In this market, nano-micro, small, medium, and heavy are the major segments of military satellite market by type. Lucintel forecasts that nano-micro will remain the largest segment over the forecast period because of growing demand for spy satellites from military forces for real-time navigation data, as well as, rising number of microsatellites launched in recent years.
Within this market, communication will remain the largest segment over the forecast period due to growing demand for military communication for enhanced situational awareness and command, control, and communication capabilities.
North America is expected to witness largest region over the forecast period because the comprehensive array of military satellites forms the backbone of global security and strategic advantage, with the U.S. Department of Defense (DoD) holding a central role in their operation and maintenance.
Airbus, Ball, Boeing, IAI, ISRO, L3Harris Technologies, Lockheed Martin, Northrop Grumman, ST Engineering, and Thales Group are the major suppliers in the military satellite market.
This unique research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or write us at helpdesk@lucintel.com
About Lucintel
At Lucintel, we offer solutions for you growth through game changer ideas and robust market & unmet needs analysis. We are based in Dallas, TX and have been a trusted advisor for 1,000+ clients for over 20 years. We are quoted in several publications like the Wall Street Journal, ZACKS, and the Financial Times.
Contact:
Roy Almaguer
Lucintel
Dallas, Texas, USA
Email: roy.almaguer@lucintel.com
Tel. 972.636.5056
Related reports
2.Aircraft Engine Blade Market