DUBLIN--(BUSINESS WIRE)--Research and Markets (http://www.researchandmarkets.com/research/pzbzqg/the_global) has announced the addition of the "The Global Military Satellite Market 2014-2024 - Market Size and Drivers: Market Profile" report to their offering.
This report provides readers with a comprehensive analysis of the Military Satellite market through 2014-2024, including highlights of the demand drivers and growth stimulators for Military Satellite. It also provides an insight on the spending pattern and modernization pattern in different regions around the world.
The global military satellite market is expected to value US$12.5 billion in 2014, and increase at a CAGR of 3.79% during the forecast period, to reach US$18.1 billion by 2024. The market consists of three categories: communications, ISR and navigation.
Reasons To Buy
- Gain insight into the Military Satellite market with current and forecast market values.
- Understand the key drivers and attractiveness parameters of the global Military Satellite market.
- Understand the various factors impacting the growth of the Military Satellite market.
Key Topics Covered:
2 Global Military Satellite Size and Drivers
2.1 Military Satellite Market Size and Forecast 2014-2024
Global military satellite market to show positive growth during the forecast period
- Global Military Satellite Market - Regional Analysis
- North America dominates the global military satellite market
- Demand for communication satellite in the US to support the global military satellite market
- Military satellite market in Europe expected to grow at a CAGR of 4.49%
- Asia-Pacific region to account for 14.8% share of military satellite market over the forecast period
- Expenditure on ISR segment expected to lead the military satellites market in the Middle East
- Brazil expected to be the highest spender in the military satellite sector in Latin America
- Markets in Africa expected to increase over the forecast period
Military Satellite Sub-Sector Market Size Composition
- Communication satellite market to account for the largest share of expenditure
- ISR to account for the second largest segment in this sector
- Market for navigation satellites to grow at a CAGR of 2.11%
Demand Drivers and Growth Stimulators
- Reliance on satellites to enhance capability
- Need for additional bandwidth for communication
- Border and coastal surveillance programs in Latin American region
- Rise in asymmetric warfare, counterinsurgencies and global terrorism
Defense Budget Spending Review
- European capital expenditure expected to increase during the forecast period
- Asian defense budgets expected to increase at a robust pace
- North American defense expenditure projected to increase marginally during the forecast period
- Modernization programs likely to drive defense expenditure in South American countries
- Military budgets of African countries expected to increase during the forecast period
- Defense budgets of Middle Eastern countries likely to increase during the forecast period
Defense Modernization Review
- Financial constraints causing delays in European defense modernization programs
- Defense budgets of Asian countries likely to be driven by competitive arms acquisitions
- Global economic slowdown leading to defense budget cuts in the North American region
- Need to replace aging equipment driving South American defense expenditure
- Security threats increasing the defense budget of African countries
- Demand for air defense systems is likely to increase in the Middle East
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