Military Satellite Payloads and Subsystems Market to increase by USD 2.91 billion during 2022-2027 | The increased seaborne security threats drive market growth – Technavio
NEW YORK, Nov. 29, 2023 /PRNewswire/ — The military satellite payloads and subsystems market size is expected to grow by USD 2.91 billion between 2022 and 2027. However, the growth momentum of the market will progress at a CAGR of 7.97% during the forecast period. The market is segmented by Type (Optical sensors and other sensors payloads, Avionics and subsystems, and Datalink and communication systems), Application (Communication, Navigation, and Reconnaissance), and Geography (North America, Europe, APAC, Middle East and Africa, and South America).
The increased seaborne security threats drive market growth. Various countries share boundaries with the sea and face difficulty in maintaining security across their boundaries. Such boundaries are prone to several illegal activities such as sea piracy, human trafficking, drug smuggling, and illegal fishing. Various trespassers and illegal immigrants use this sea route to enter different countries. The report analyses the market size and growth and provides accurate predictions on the growth of the market. View a Free PDF Sample
Key Highlights:
The report recognizes the following as some of the key players in the military satellite payloads and subsystems market: Airbus SE, BAE Systems Plc, Ball Corp., Eutelsat SA, General Dynamics Corp., GomSpace Group AB, Honeywell International Inc., Intelsat US LLC, Israel Aerospace Industries Ltd., L3Harris Technologies Inc., Lockheed Martin Corp., MDA Corp., Northrop Grumman Corp., Raytheon Technologies Corp., Singapore Technologies Engineering Ltd., Space Exploration Technologies Corp., Thales Group, The Boeing Co., Viasat Inc., and Mitsubishi Electric Corp.Military Satellite Payloads and Subsystems Market is fragmented in nature.Market to observe 7.05% YOY growth in 2023.
Market Dynamics:
Trend
The use of AI in satellite communication for Earth-based observation is an emerging market trend.Machine learning and analysis algorithm innovations make AI-derived information more beneficial for governments and the armed forces is a major factor driving this trend.This also facilitates easier analysis of large amounts of data that are collected by satellites.
Challenge
The design and manufacturing constraints challenge market growth during the forecast period.Various manufacturers face challenges regarding the manufacturing of weightless compact next-generation microsatellites while not compromising on the high level of performance and reliability.For instance, the antennas for microsatellites have to be compact to fit into the satellite system, which minimizes signal strength.
The report also covers information on upcoming trends and challenges. Explore detailed information by purchasing the report
Keg Segments:
The optical sensors and other sensors payloads segment will play a significant role during the forecast period. The tactical necessities of military agencies are supported by the application of standard electro-optical/infrared (EO/IR) sensors to perform multiple surveillance and reconnaissance missions. Furthermore, there is a growing popularity for the deployment of elites with advanced sensor payloads among military agencies. This is due to its significant role in support of space-based systems during tactical warfare.
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The global radiation-hardened electronics market size is estimated to grow by USD 340.35 million between 2022 and 2027 accelerating at a CAGR of 4.02%.
ToC:
Executive Summary
Market Landscape
Market Sizing
Historic Market Sizes
Five Forces Analysis
Market Segmentation by Type
Market Segmentation by Application
Market Segmentation by Geography
Customer Landscape
Geographic Landscape
Drivers, Challenges, & Trends
Company Landscape
Company Analysis
Appendix
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