The Business Research Company’s Military Satellites Global Market Report 2021: COVID-19 Impact and Recovery to 2030
LONDON, GREATER LONDON, UK, March 5, 2021 /EINPresswire.com/ — Our reports have been revised for market size, forecasts, and strategies to take on 2021 after the COVID-19 impact: https://www.thebusinessresearchcompany.com/global-market-reports
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Military satellites market analysis shows that advancement in technology is shaping the market. Major companies working in the military satellite sector are focused on designing advanced technology solutions for military satellites. For instance, in July 2020, SpaceX, an American aerospace manufacturer and space transportation services company launched South Korea's first military communications satellite, called Anasis-II. Anasis-II will play a vital role in preserving peace on the Korean peninsula, and through this technical advance, the Republic of Korea will be able to improve not only its IT capabilities but also its space research and development operations.
The major players covered in the military satellites communication industry 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, Orbital ATK Inc.
The global military satellites market size is expected to grow from $51.5 billion in 2020 to $52.46 billion in 2021 at a compound annual growth rate (CAGR) of 1.9%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $61.56 billion in 2025 at a CAGR of 4.1%.
TBRC’s military satellites industry report is segmented by satellite type into small satellite, medium-to-heavy satellite, by payload type into communication payload, navigation payload, imaging payload, others, by application into intelligence, surveillance, and reconnaissance (ISR), communication, navigation.
Military Satellites Global Market Report 2021: COVID 19 Impact and Recovery to 2030 is one of a series of new reports from The Business Research Company that provides military satellites market overview, forecast military satellites market size and growth for the whole market, military satellites market segments, and geographies, military satellites market trends, military satellites market drivers, restraints, leading competitors’ revenues, profiles, and market shares.
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