Global Military Satellite Market 2017-2021
About Military Satellite
Satellite is an artificial platform placed manually into orbit to serve various purposes. The functions of satellites encompass weather information, Earth observation, and research. The military satellites are employed in missions like intelligence gathering, navigation, and military communications. Satellites are launched into space to provide various services, such as communications, surveillance, telemetry, and remote sensing. They are designed specifically as per their intended applications. Depending on the type of application, satellites are classified as navigation satellites, communications satellites, reconnaissance satellites, and remote sensing satellites
Technavio’s analysts forecast the global military satellite market to grow at a CAGR of 5.95% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global military satellite market for 2017-2021. To calculate the market size, the report considers the revenue generated by the vendors supplying military satellites and hosted payloads to various defense agencies across the globe.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Military Satellite Market 2017-2021
Technavio recognizes the following companies as the key players in the global military satellite market: Boeing, IAI, Northrop Grumman, Thales Alenia Space, and Raytheon.
Other Prominent Vendors in the market are: Airbus Defence and Space, China SpaceSat, Lockheed Martin, and OHB.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is Increasing collaborative agreements with private SATCOM providers. The defense agencies are inclining toward outsourcing some of their valuable mission and operation requirements from private entities. In November 2016, the USAF, on behalf of the US DoD, addressed global companies in an event (Global MilSatCom Conference) held in London, UK, seeking their participation in the design and operation of military telecommunications satellites. The US DoD also requested its 16 allied countries for participating in the Wideband Analysis of Alternatives program for assessing measures to address the growing shortfall in the military wideband capacity of the US and its allied nations.”
According to the report, one of the major drivers for this market is Preference for hosted payload. In a hosted payload approach, the governments or the defense agencies insert a small module to a commercial satellite, which operates independently and is dedicated to the requirements of the government or defense agencies. However, such payloads or modules share the same power supply and transponders that the commercial modules utilize. To achieve cost efficiencies, government agencies often adopt such approaches, where the requirement to build and launch a separate dedicated satellite is minimized. Such measures also reduce the risk of insufficient funding, launch delays, and operational failures.
Further, the report states that one of the major factors hindering the growth of this market is Delays and unsuccessful attempts of satellite launch. Launch delays are one of the major issues in the satellite industry. As per the historical data, the actual number of satellite launches has always been lower than the forecasted estimate. Launch delays often impact the development and procurement of remote sensing satellites.
Boeing, IAI, Northrop Grumman, Thales Alenia Space, Raytheon, Airbus Defence and Space, China SpaceSat, Lockheed Martin, and OHB.
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