Military Satellites Market Poised for 4.6% Growth, Set to Hit $32.56 Billion by 2029

How Is the Military Satellites Market Projected to Grow, and What Is Its Market Size?
In the past few years, the military satellites market has experienced steady growth. The market value is projected to increase from $59.82 billion in 2024 to $62.74 billion in 2025, with a compound annual growth rate (CAGR) of 4.9%. The historic period saw expansion due to factors such as global surveillance, communication and data transfer, navigation and GPS functionalities, intelligence gathering, and strategic deterrence.

Steady expansion is anticipated in the military satellites market size in the upcoming years. By 2029, it is projected to rise to $75.04 billion, with a compound annual growth rate (CAGR) of 4.6%. The augmentation during the predicted period can be credited to factors such as threats against satellites, resilience and redundancy, laser communication technology, quantum satellite communication, and the miniaturization of smaller satellites. Noteworthy trends expected during this period consist of dual-purpose satellites, swift deployment and launch, management of space traffic, warning systems against space-based threats, and international cooperation.

What Are the Key Drivers Behind the Growth of the Military Satellites Market?
The escalating worries over terrorism are projected to stimulate the expansion of the military satellite market. This heightened fear of terrorism has encouraged global military forces to adopt superior military communication systems. Military satellites serve as a crucial element in contemporary military communication networks. For example, the Vision of Humanity, an Australian non-profit organization, reported in 2023 that the United States bore 76% of terrorism-related fatalities among Western democracies, aligning with a 15-year drop in incident rates. Moreover, in 2022, the Islamic State (IS) and its affiliates continued to be the deadliest terrorist group globally for the eighth year in a row, launching assaults in 21 countries. As a result, the growing worries about terrorism propel the expansion of the military satellite market.

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Who Are the Major Industry Players Fueling Military Satellites Market Expansion?
Major companies operating in the military satellites market include The Boeing Company, Israel Aerospace Industries, Northrop Grumman Corporation, ISS-Reshetnev, Space Exploration Technologies Corp., Lockheed Martin Corporation, Raytheon Company, Thales Group, Mitsubishi Electric Corporation, GE Aviation, Airbus SE, Indian Space Research Organisation, OHB SE, Elbit System Ltd., AeroVironment Inc., Orbital ATK Inc., Cobham Limited, Viasat Inc., Safran Electronics & Defense, Selex ES Inc., Harris Corporation, L3Harris Technologies Inc., Terma A/S, BAE Systems plc, QinetiQ Group PLC, Reutech Radar Systems, Easat Radar Systems Limited, Indra Company, Bharat Electronics Limited, ZTE Corporation, United Technologies Corporation, Saab AB, China Aerospace Science and Technology Corporation, NEC Corporation, Orbital Sciences Corporation

Which Key Developments Are Influencing the Military Satellites Market?
Technological advancements are playing a pivotal role in the evolution of the military satellite market. Key players in the sector are intent on engineering innovative technology solutions tailored for military satellites. Taking an example from May 2023, an Australian space research centre, SmartSat CRC, unveiled the Compact Hybrid Optical-RF User Segment (CHORUS) prototype terminal. This new addition to military satellite communication employs a combination of radio frequency (RF) and optical communication technology to deliver substantially higher data speeds and an enhanced security against interception compared to conventional civilian and military RF satellite communications. Furthermore, the design of CHORUS is compact and mobile, making it more convenient for use in inaccessible and tough conditions.

How Is the Segmentation of the Military Satellites Market Defined?
The military satellites market covered in this report is segmented -

1) By Satellite Type: Small Satellite, Medium-To-Heavy Satellite
2) By Payload Type: Communication Payload, Navigation Payload, Imaging Payload, Others
3) By Application: Intelligence, Surveillance, And Reconnaissance (ISR), Communication, Navigation

Subsegments:
1) By Small Satellite: Nano Satellite, Pico Satellite, Micro Satellite, Mini Satellite
2) By Medium-to-Heavy Satellite: Medium Satellite, Large Satellite, Very Large Satellite

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What Is the Leading Region in the Military Satellites Market?
North America was the largest region in the military satellites market in 2023. Asia-Pacific is expected to be the fastest-growing region in the military satellites market during the forecast period. The regions covered in the military satellites market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

What Is Covered In The Military Satellites Global Market Report?

- Market Size Analysis: Analyze the Military Satellites Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Military Satellites Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Military Satellites Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Military Satellites Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.

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