The Global Military Satellite Market progress of the Industry is expected to capture increased momentum in the coming years primarily due to the presence of conducive government policies. The growth turnaround in the market is expected to activate new opportunities for expansion of the market. The improvements in various domestic economies are expected to motivate the development of the market in the upcoming period.
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In the coming years, the influence exerted by relatively high-income levels in nations around the world and the potential gains observed to some of the currencies in the world is expected to reinforce the evolution of the market in the forecast period. A considerable rise in the number of investors in the market is projected to create an advantageous scenario for the progress of the market in the forecast period.
Military satellites are a measure of the nationâs military strength, operability, and the ability to attack or defend itself. These satellites give the military real-time data of movement of troops and arsenal in the enemy borders. They also facilitate high-bandwidth communication over secure channels, track and target enemy encroachment or intruding vehicles, and other military functions.
Military Demands to Fuel the Market Growth
Militaries, across the globe, are strengthening C4ISR systems that essentially need strong and secure communication channels accessible from anywhere by the defense forces. The C4ISR systems market is slated to grow in response to the increasing demand for better security, control, and co-ordination. This will increase the demand in favor of military communication and ISR satellites, during the forecast period.
The micro, nano, and pico-sized satellites are mass produced satellite systems available in market, and are currently in service. Since the introduction of nano satellites in 2013, 94 nano satellites were launched into orbit within a year. Following this, the launch cost per nano satellites went up due to the demand. It is expected that, by the end of 2020, there will be over 1000 nano satellites orbiting earth.
Currently, only six countries have the technology and finance to design, develop, and place a satellite into orbit, and even fewer countries have the capability to place multiple satellites in orbit in a single flight. Japan, Korea, and Brazil have been trying to get in league with space deployment capability, but have faced failures. Notable countries with the capability to place satellites into orbits are the US, Russia, France, Italy, China, and India. Russia, France, Italy, UK, and other nations in the European region have formed their own joint association to design, build, and launch satellites into space.
India among the Fastest Growing Markets
The Indian Space program under ISRO/Antrix is run and maintained by the government, and has witnessed a many successful missions than any other group of nations with similar or better technology and limited funds. In 2016, India launched 22 satellites into orbit in a single mission. Of the 22 satellites, 14 belong to foreign nations including, the US, Canada, Germany, and Indonesia. Indiaâs successful launch of its first reusable space launch vehicle in the same period is likely to shift the military satellites market in favor of India, especially since the total budget of this project was USD 1 billion.
The US is likely lead the global military satellites market, followed by China, UK, India, Russia, Germany, and France. Countries like Pakistan, Egypt, Nigeria, Algeria, Ukraine, South Africa, Brazil, Japan, Canada, Indonesia, Singapore, and few Arabian Countries will be the prospective markets for military satellites in the forecast period 2018-2023.
Key Developments in the Market
â¢ February 2018: SpaceX blasted off with a Luxembourg military satellite.
â¢ January 2018: China launched fourth trio of Yaogan military satellites from the Xichang space base.
Major Players: SPACE SYSTEMS/LORAL, AERO ASTRO L.L.C., AIRBUS DEFENSE AND SPACE, ALCATEL SPACE, BOEING SPACE SYSTEMS, ISRO/ANTRIX/XOVIAN/TRANSPACE, ISRAEL AEROSPACE, SPACEX, BAE SYSTEMS, RUSSIAN SPACE RESEARCH ORG, BALL AEROSPACE, amongst others.
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â¢ A study on the adoption of newer technologies and their effects on the global military satellite market.
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Military Satellite Market Forecast 2019-2024
The Military Satellite industry research report analyses the supply, sales, production, and market status comprehensively. Production market shares and sales market shares are analysed along with the study of capacity, production, sales, and revenue. Several other factors such as import, export, gross margin, price, cost, and consumption are also analysed under the section Analysis of Military Satellite production, supply, sales and market status.
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Lastly, this report covers the market landscape and its growth prospects over the coming years, the Report also brief deals with the product life cycle, comparing it to the relevant products from across industries that had already been commercialized details the potential for various applications, discussing about recent product innovations and gives an overview on potential regional market shares.
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