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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Related Reports:

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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

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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