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The increasing concern about terrorism are expected to drive innovation in military satellites manufacturing, thus driving the market during the forecast period.

The global military satellites market is expected to grow from $58.46 billion in 2022 to $62.19 billion in 2023 at a compound annual growth rate (CAGR) of 6.4%. The global military satellites market size is expected to grow to $73.26 billion in 2027 at a CAGR of 4.2%.

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Global Military Satellites Market Segments Include:

• By Satellite Type: Small Satellite, Medium-To-Heavy Satellite
• By Payload Type: Communication Payload, Navigation Payload, Imaging Payload, Others
• By Application: Intelligence, Surveillance, And Reconnaissance (ISR), Communication, Navigation
• By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, North America is the largest region in the global military satellites market in 2021.

Major Market Players in the military satellites market include The Boeing Company, Israel Aerospace Industries, Northrop Grumman Corporation, ISS-Reshetnev, SpaceX, Lockheed Martin Corporation.

The advancement in technology is shaping the military satellite 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 Military Satellites Global Market Report 2023 provides a military satellites market overview for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The military satellites market forecast analyzes military satellites market size, military satellites market share, leading competitor market positions. The regions covered in the report include Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa and the countries include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

A military satellite is an artificial earth satellite used for military missions such as intelligence gathering, navigation, and military communications. The capabilities of military satellites include secure in-theater communications, weather and navigational data for ground, air, and fleet operations, as well as threat warning.

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