DUBLIN, Jan. 10, 2020 /PRNewswire/ — The “Satellite Communication Market in the Defense Sector – Growth, Trends, and Forecast (2020 – 2025)” report has been added to ResearchAndMarkets.com’s offering.
The satellite communication market in the defense sector is expected to register a CAGR of over 6.90% during the forecast period (2020 – 2025). With the penetration of IoT in military operations, it is significantly impacting military intelligence, operations, and surveillance.
- Technological advancement in miniaturization, connected technology, robust network environment, low power computing, radio frequency identification, and M2M communication are also expected to fuel the satellite communication market.
- In addition to that, the governments of several countries are taking numerous initiatives to facilitate the manufacturing of military communication systems and solutions, which is another strong factor that will support the growth of the military communications market. Governments of countries like China, US, UK, Indonesia, etc., play a vital role in promoting maritime security since the maritime industry adds to the regions’ economic growth.
- For example, in April 2018, ORBCOMM and Maerospace extended AIS contract with the Government of Canada. Through its Canadian subsidiary SkyWave, ORBCOMM will provide satellite Automatic Identification System (AIS) data used for ship tracking and other maritime navigational and safety efforts to the Government of Canada for monitoring Canadian and global marine traffic.
- However, the high cost of manufacturing as well as of components of satellite communication equipment is likely to hinder the satellite communication market over the forecast period.
Government Initiatives to Drive the Market Growth
- Artificial Intelligence is becoming a part of modern warfare. Implementation of AI in Satellite Communication is set to be a major trend in the coming decade. The governments of various countries are investing in communication technology such as navigation systems, vessel tracking, etc.
- Military satellites are a measure of the nation’s military strength, operability, and the ability to attack or defend itself. These satellites give the military real-time data of movement of troops and regarding the arsenal at enemy borders.
- Nowadays, nanosatellites are coming into the picture because of their usability. Nanosatellites are defined as satellites with a mass less than or equal to 10 kg. Moreover, recent advances in optics and communication technologies have improved the smaller spacecraft capabilities for remote sensing and imaging. Heightened government interest coupled with increasing maturity of the technology is attracting companies to invest in this sector.
- For instance, the National Aeronautic Space Administration (NASA) budget for the fiscal year 2020 is USD 21 billion. It’s a 1.4% increase over by 2019. NASA will take a more active role in commercializing new space technologies. Many of its new initiatives have military and business applications.
Asia-Pacific is Projected to Have the Highest Growth Rate
- China and India are largely responsible for the rapid growth of satellite communication market in the defense sector in the Asia-Pacific region. The governments of these countries have adopted conscious strategies to make maritime, aeronautical, and military sectors more secure. Appropriate communication channels make a big part of this strategy, which will inevitably fuel the demand for mobile satellite services.
- China and India, the world’s two emerging economic powers, are demonstrating a sustained increase in their military expenditure and contribute to the growth in world military spending. Joint military activities are increasing among the Asia-Pacific regions. These activities are creating a market for satellite communication market in the defense sector.
- For example, the government of India allocated Rs 4,04,365 crore (the US $62.8 billion) for the Ministry of Defence (MoD). The governments are increasing their military budgets as well.
Key Topics Covered:
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Introduction to Market Drivers and Restraints
4.3 Market Drivers
4.3.1 Increased Sea-borne Threats and Ambiguous Maritime Security Policies
4.3.2 Rise in the Demand for Merchant Shipping
4.4 Market Restraints
4.4.1 Lack of Awareness About Advanced Satellite Service Market
4.4.2 Reliance on High-cost Satellite Equipment
4.5 Value Chain / Supply Chain Analysis
4.6 Industry Attractiveness – Porter’s Five Force Analysis
5 MARKET SEGMENTATION
5.1 By Type
5.2 By Application
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
7 INVESTMENT ANALYSIS
8 MARKET OPPORTUNITIES AND FUTURE TRENDS
- Baker Hughes Incorporated
- Globecomm Systems Inc.
- Inmarsat Communications
- Iridium Communications Inc.
- KVH Industries, Inc.
- Orbcomm Inc.
- Rogers Communications, Inc
- SpeedCast International Limited
- Thuraya Telecommunications Company
- ViaSat Inc
- VT iDirect, Inc
For more information about this report visit https://www.researchandmarkets.com/r/5p9fl4
ResearchAndMarkets.com is the world’s leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
Research and Markets also offers Custom Research services providing focused, comprehensive and tailored research.
Research and Markets
Laura Wood, Senior Manager
For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716
SOURCE Research and Markets
This post was originally published on Chief Analyst