Counterspace security market to reach $8.95 billion globally by 2025, study says
NewsJune 30, 2020
FREMONT, Calif. The counterspace security market -- defined by the U.S. Air Force as those missions that integrate defensive and offensive operations to attain and maintain the desired control and protection in and through space -- is anticipated to reach $8.95 billion by 2025, according to a recent report by BIS Research, "Global Counterspace Security Market, 2020-2025."
According to the study's findings, the counterspace security market is expected to register significant growth during this period due to the increase in potential threats in the space domain, which are prompting entities including government, space agencies, and private companies to develop dedicated and next-generation counterspace security products.
BIS Research Amy Gracia said of the study findings: “Increasing focus on satellite communication (SATCOM) security, focused efforts of governments and space agencies for space security, dependency on space applications, such as satellite navigation, satellite communication, earth observation, reconnaissance, and remote sensing, are enhancing the counterspace security technologies. As a result, it is pushing the key stakeholders to develop products with advanced technologies. Moreover, the continuous efforts of the defense and space companies, along with the government agencies, is expected to drive the market.”
North American market share in the global counterspace security market is estimated at 33.59% in 2020, the study revealed. Major players in the counterspace security market include BAE System, Lockheed Martin, Raytheon, Collins Aerospace, L3Harris Technologies., Northrop Grumman, General Dynamics Mission Systems, and SAIC.
For additional information, visit the BIS Research website.
