Satellite Communication Market Size in Defense Sector to grow by USD 2.56 Billion| Increased Seaborne Security Threats to Boost Growth | Technavio – QNT Press Release

NEW YORK, June 3, 2022 /PRNewswire/ — The satellite communication market size in defense sector is anticipated to increase by USD 2.56 billion from 2021 to 2026, as per the latest market analysis report by Technavio. The report also predicts the market to witness a decelerating growth momentum at a CAGR of 6.81% during the forecast period, according to Technavio. The increased seaborne security threats is expected to drive the satellite communication market growth in defense sector positively. However, factors such as the high cost of satellite hardware and components may impede the market growth.

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Satellite Communication Market in Defense Sector Vendor Landscape

• The market is fragmented and the degree of fragmentation will decelerate during the forecast period. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments . Vendors are deploying organic and inorganic growth strategies to compete in the market. To make the most of the opportunities and recover from post pandemic impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
• Airbus SE, Cobham Plc, EchoStar Corp., Elbit Systems Ltd., Eutelsat Communications SA, General Dynamics Mission Systems Inc., Honeywell International Inc., Indra Sistemas SA, Inmarsat Global Ltd., KVH Industries Inc., L3Harris Technologies Inc., Lockheed Martin Corp., NSIL Corp. Ltd., ORBCOMM Inc., Raytheon Technologies Corp., Thales Group, Thuraya Telecommunications Co., and Viasat Inc. are some of the major market participants.

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Satellite Communication Market in Defense Sector Segmentation

• Application
• Surveillance And Tracking: The surveillance and tracking segment held the largest satellite communication market share in defense sector. The segment will continue to account for the highest share throughout the forecast period. The defense satellite can relay information from enemy territory, track suspicious locations, and guide military officers concerning threats during an active mission.
• Remote Sensing
• Disaster Recovery
• Others
• Geography
• North America: 40% of the market’s growth will originate from North America during the forecast period. The US is the key market for satellite communication market in defense sector in North America. Market growth in this region will be slower than the growth of the market in APAC. The high investment in the defense sector made by the US will facilitate the satellite communication market growth in defense sector in North America over the forecast period.
• Europe
• APAC
• South America
• Middle East And Africa

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Satellite Communication Market in Defense Sector Scope

Technavio categorizes the satellite communication market in defense sector as a part of the global communications equipment market. Our report provides extensive information on the value chain analysis for the satellite communication market in defense sector, which vendors can leverage to gain a competitive advantage during the forecast period. Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. Our satellite communication market in defense sector report covers the following areas:

• Satellite Communication Market in Defense Sector size
• Satellite Communication Market in Defense Sector trends
• Satellite Communication Market in Defense Sector industry analysis

Satellite Communication Market in Defense Sector Highlights

• CAGR of the market during the forecast period 2022-2026
• Detailed information on factors that will assist satellite communication market in defense sector growth during the next five years
• Estimation of the satellite communication market in defense sector size and its contribution to the parent market
• Predictions on upcoming trends and changes in consumer behavior
• The growth of the satellite communication market in defense sector
• Analysis of the market’s competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of satellite communication market in defense sector vendors

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