Military satellite markets to see greater investment, study predicts
NewsDecember 29, 2023
DUBLIN. Revenue for military satellite markets is forecast to surpass $15.8 billion across the world in 2024, with strong revenue growth through to 2034, according to the outlook in a new report from Research and Markets, "Military Satellites Market Report 2024-2034."
According to the study authors, the primary driver of the military satellite market over the next decade is likely to be geopolitical security concerns, as nations across the world invest in satellite systems to bolster national security by enhancing surveillance, reconnaissance, and communications capabilities.
Additionally, the study projects, countries will require secure, high-bandwidth communication channels for their military satellites in order to facilitate encrypted, resilient, and global communication networks for their defense forces.
Possible factors hindering the military satellite market over the next 10 years, the study concludes, may include the massive costs to field and secure large military satellites and the fact that such satellites are subject to international regulations.
For additional information visit the Research and Markets website.
