The global military satellite market is expected to grow from US$ 52.28 billion in 2021 to US$ 54.83 billion in 2022 at a compound annual growth rate (CAGR) of 4.9%. The market is expected to reach US$ 63.116 billion in 2026 at a CAGR of 3.6% according to new Research from Research and Markets.
Highlights of the report include:
- North America was the largest region in the military satellites market in 2021. Asia Pacific is expected to be the fastest growing region in the forecast period.
- The increasing concern about terrorism is expected to fuel the growth of the military satellites market.
- The high cost of the military satellite is expected to hamper the growth of the military satellites market over the forecast period.
Major players in the military satellites market are The Boeing Company, Israel Aerospace Industries, Northrop Grumman Corporation, ISS-Reshetnev, SpaceX, Lockheed Martin Corporation, Raytheon Company, Thales Group, Mitsubishi Electric Corporation, GE Aviation, Airbus SE, Indian Space Research Organisation, OHB SE, Elbit System Ltd., AeroVironment and Orbital ATK Inc.
Find out more: Military Satellites Global Market Report 2022, By Satellite Type, Payload Type, Application
