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Military Satellite Market Size

Report ID: GMI12144
Published Date: Nov 2024
Report Format: PDF

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Military Satellite Market Size

The global military satellite market was valued at USD 30.3 billion in 2023 and is estimated to grow at a CAGR of 10.9% from 2024 to 2032. The market is growing, driven by key trends such as small satellites and mega-constellations. Smaller, cheaper satellites offer more flexibility for military operations. Mega-constellations, made up of many small satellites, provide wide coverage and real-time data, boosting communication and surveillance abilities.

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For instance, in December 2023, the Indian Air Force (IAF) announced plans to deploy over 100 military satellites within 7-8 years, involving significant private sector participation. The Indian Air Force (IAF) works with ISRO, DRDO, IN-Space, and private companies to develop key space technologies. These include improved positioning and navigation systems, advanced intelligence and communication capabilities, space weather forecasting, and space traffic management.

Military Satellite Market Report Attributes
Report Attribute	Details
Base Year:	2023
Military Satellite Market Size in 2023:	USD 30.3 Billion
Forecast Period:	2024 - 2032
Forecast Period 2024 - 2032 CAGR:	10.9%
2032 Value Projection:	USD 73.3 Billion
Historical Data for:	2021 - 2023
No. of Pages:	210
Tables, Charts & Figures:	222
Segments covered:	Orbit type, satellite mass, application, & region
Growth Drivers:	Increasing demand for Intelligence, Surveillance, and Reconnaissance (ISR) capabilities Rise of cyber warfare and electronic warfare Technological advancements in satellite communication Growing defense budget for military modernization Geopolitical instabilities and regional conflict escalations
Pitfalls & Challenges:	High cost associated with development and deployment of military satellite Severe cybersecurity vulnerabilities and threat risks

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Geopolitical tensions drive nations to invest heavily in advanced military satellites for national security. The need for better surveillance, reconnaissance, and communication capabilities increases demand for high-tech satellite systems, as countries seek strategic advantages. For instance, in January 2024, NOAA satellites helped rescue 350 people from dangerous situations in the U.S. and nearby waters during 2023. This shows how important satellite technology is for emergency response. Advanced satellite systems, including military ones, play a vital role in managing crises and keeping people safe.

Authors: Suraj Gujar, Deeksha Vishwakarma

Frequently Asked Questions (FAQ) :

The global market size military satellite was valued at USD 30.3 billion in 2023 and is projected to reach USD 73.3 billion by 2032, driven by a CAGR of 10.9% from 2024 to 2032.

The LEO segment is expected to register a CAGR of over 10.5% during the forecast period, driven by its proximity to Earth, which allows for sharp, detailed imagery and real-time data transmission.

North America held over 39% of the market share in 2023, driven by the U.S. military's reliance on satellites for communication, reconnaissance, and navigation, along with contributions from Canada and innovations by SpaceX.

Major players include Lockheed Martin, Northrop Grumman, and SpaceX, among others.