Military Satellite Market Size
| Icons | Lable | Value |
|---|---|---|
|
Study Period | 2017 - 2029 |
|
Market Size (2024) | USD 31.97 Billion |
|
|
Market Size (2029) | USD 53.85 Billion |
|
Largest Share by Orbit Class | LEO |
|
|
CAGR (2024 - 2029) | 10.99 % |
|
Largest Share by Region | Asia-Pacific |
Major Players |
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|
||
|
*Disclaimer: Major Players sorted in no particular order |
Military Satellite Market Analysis
The Military Satellite Market size is estimated at USD 31.97 billion in 2024, and is expected to reach USD 53.85 billion by 2029, growing at a CAGR of 10.99% during the forecast period (2024-2029).
31.97 Billion
Market Size in 2024 (USD)
53.85 Billion
Market Size in 2029 (USD)
4.24 %
CAGR (2017-2023)
10.99 %
CAGR (2024-2029)
Largest Market by Satellite Mass
68.18 %
value share, above 1000kg, 2022
Large satellites register higher demand due to applications such as satellite radio, communications, remote sensing, planetary security, and weather forecasting.
Largest Market by Satellite Subsystem
80.28 %
value share, Propulsion Hardware and Propellant, 2022
The demand for these propulsion systems is driven by the launch of mass satellite constellations into space. They are used for transferring the spacecraft into orbit.
Largest Market by Orbit Class
84.81 %
value share, LEO, 2022
LEO satellites are increasingly being adopted in modern communication technologies. These satellites serve an important role in Earth observation applications.
Largest Market by Application
83.28 %
value share, Earth Observation, 2022
Earth observation satellites are used for weather forecasting, forestry mapping, and pollution monitoring. The growing adoption of VAS by private companies and organizations is expected to fuel the growth of satellite-based Earth observation.
Leading Market Player
46.72 %
market share, Lockheed Martin Corporation, 2022
Lockheed Martin is the second leading player in the market and has a strong product portfolio for military satellites. The company's civil and military customers include USAF, the US Navy, DARPA, NASA, and NOAA.
Faster relay of communication is driving the LEO segment to occupy a major share of 84.8% in 2023
- A satellite or a spacecraft is usually placed into one of many special orbits around the Earth, or it can be launched into an interplanetary journey based on its intended application. Out of the three orbits, namely low Earth orbit (LEO), geostationary orbit (GEO), and medium Earth orbit (MEO), the LEO orbit is the most widely preferred one because of its proximity to the Earth.
- Many weather and communication satellites tend to have high Earth orbits, which are farthest from the surface. Satellites in mean (medium) Earth orbit include navigational and specialized satellites designed to monitor a specific area. Each distance has benefits and challenges, including increased coverage and decreased energy efficiency. Most science satellites, including NASA's Earth Observation System team, are in low Earth orbit.
- During 2017-2022, out of the 57 satellites launched in the MEO orbit, most were built for navigation/global positioning purposes. Similarly, out of the 147 satellites in the GEO orbit, most were deployed for communication and Earth observation purposes. Around 4,131 LEO satellites manufactured and launched were owned by North American organizations in that period.
- The increasing use of satellites in areas such as electronics intelligence, Earth science/meteorology, laser imaging, and optical imaging is expected to drive the demand for the development of satellites during the forecast period.
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The surge in the number of defense satellites globally is expected to aid the military satellites market
- The global defense expenditure crossed over USD 2 trillion in 2022, with the major military power, the United States, surging its defense expenditure by USD 773 billion. The increasing importance of the US Space Force is due to it taking over the operation of all military satellite communications satellites. The US armed forces are integrating space systems with air, land, and sea platforms as military forces increasingly rely on satellites for operations.
- The United States was followed by China, India, Russia, and the United Kingdom, which also increased their defense expenditures by 14%, 5%, 6.8%, and 13%, respectively. The major defense players have well-established budgets for their defense satellite domain. For instance, in March 2022, France's Armed Forces Ministry planned to spend USD 706 million in the space domain and earmarked EUR 5.3 billion on military space capabilities and services during 2019-2025.
- The market is witnessing the entry of private players spending huge amounts on R&D to exploit new opportunities in the industry. Companies in North America have emphasized developing new satellite buses in the military satellite market. For instance, in January 2023, Lockheed Martin's first multi-mission spacecraft, the LM 400, is a flexible mid-sized satellite adaptable for military users, readied from the company's Digital Factory production line and scheduled for launch in 2023. During 2017-2022, around 230+ satellites manufactured and launched were owned by military and government organizations in North America. High military budget spending and technology development are expected to drive the North American market at a healthy growth rate, amounting to 91%, during 2023-2029.
Global Military Satellite Market Trends
Rising demand for satellite miniaturization globally is driving market growth
- The ability of small satellites to perform nearly all the functions of traditional satellites at a fraction of their cost has increased the viability of building, launching, and operating small satellite constellations. The demand from North America is primarily driven by the United States, which manufactures the largest number of small satellites each year. In North America, during 2017-2022, a total of 596 nanosatellites were placed into orbit by various regional players. NASA is also currently involved in several projects aimed at developing these satellites.
- The market demand in Europe is primarily driven by Germany, France, Russia, and the United Kingdom, which manufacture the largest number of small satellites each year. During 2017-2022, more than 50 nano and microsatellites were placed into orbit by various regional players. The miniaturization and commercialization of electronic components and systems have driven market participation, resulting in the emergence of new market players who aim to capitalize on and enhance the current market scenario. For instance, UK-based startup Open Cosmos partnered with ESA to provide commercial nanosatellite launch services to end users while ensuring competitive cost savings of around 90%.
- The demand from Asia-Pacific is primarily driven by China, Japan, and India, which manufacture the largest number of small satellites annually. During 2017-2022, more than 190 nano and microsatellites were placed into orbit by various regional players. China is investing significant resources toward augmenting its space-based capabilities. The country has launched the most significant number of nano and microsatellites in Asia-Pacific to date.
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The surge in investment opportunities is expected to boost the global satellite manufacturing market
- In North America, global government expenditure for space programs reached a record of approximately USD 103 billion in 2021. The region is the epicenter of space innovation and research, with the presence of the world's biggest space agency, NASA. In 2022, the US government spent nearly USD 62 billion on its space programs, making it the highest spender on space programs in the world. In the United States, federal agencies receive aid from Congress every year, known as funding, NASA received USD 32.33 billion in 2023 for its subsidiaries.
- European countries are recognizing the importance of various investments in the space domain and are increasing their spending on innovative activities to remain competitive in the global space industry. In November 2022, ESA announced that it had proposed a 25% boost in space funding over the next three years designed to maintain Europe's lead in Earth observation, expand navigation services, and remain a partner in space exploration with the United States. The European Space Agency (ESA) is asking its 22 nations to back a budget of some EUR 18.5 billion for 2023-2025. Germany, France, and Italy are the major contributors.
- In line with the increase in space-related activities in the Asia-Pacific region, in 2022, Japan’s draft budget registered a rise in its space budget, which amounted to over USD 1.4 billion. It included the development of the H3 rocket, Engineering Test Satellite-9, and the nation's Information Gathering Satellite (IGS) program. Similarly, the proposed budget for India's space programs for FY22 was USD 1.83 billion. In 2022, the South Korean Ministry of Science and ICT announced a space budget of USD 619 million for manufacturing satellites, rockets, and other key space equipment.
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OTHER KEY INDUSTRY TRENDS COVERED IN THE REPORT
- Increased adoption of nano and minisatellites are poised to generate market demand
Military Satellite Industry Overview
The Military Satellite Market is fairly consolidated, with the top five companies occupying 85.32%. The major players in this market are China Aerospace Science and Technology Corporation (CASC), Lockheed Martin Corporation, Raytheon Technologies Corporation, ROSCOSMOS and Thales (sorted alphabetically).
Military Satellite Market Leaders
China Aerospace Science and Technology Corporation (CASC)
Lockheed Martin Corporation
Raytheon Technologies Corporation
ROSCOSMOS
Thales
Other important companies include Airbus SE, BAE Systems, Elbit Systems, General Dynamics, Indian Space Research Organisation (ISRO), Information Satellite Systems Reshetnev, Viasat, Inc..
*Disclaimer: Major Players sorted in alphabetical order.
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Military Satellite Market News
- February 2023: Blue Canyon Technologies LLC, a subsidiary of Raytheon Technologies, provided critical hardware components for several of the SmallSat missions aboard the Transporter-6 launch that pitched 114 small payloads into polar orbit.
- February 2023: Blue Canyon Technologies LLC, a subsidiary of Raytheon Technologies, provided critical hardware components for several of the smallsat missions aboard the Transporter-6 launch, which pitched 114 small payloads into polar orbit.
- January 2023: Raytheon Intelligence & Space was awarded a major contract to develop a prototype missile tracking system for the US Space Force. MTC is the service's first missile tracking system for medium earth orbit. Under this contract, Raytheon Intelligence & Space will act as the main contractor, developing and delivering a state-of-the-art space vehicle, missile tracking mission payload, and command and control elements for ground and data processing missions.
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Military Satellite Market Report - Table of Contents
1. EXECUTIVE SUMMARY & KEY FINDINGS
2. REPORT OFFERS
3. INTRODUCTION
- 3.1 Study Assumptions & Market Definition
- 3.2 Scope of the Study
- 3.3 Research Methodology
4. KEY INDUSTRY TRENDS
- 4.1 Satellite Miniaturization
- 4.2 Satellite Mass
- 4.3 Spending On Space Programs
-
4.4 Regulatory Framework
- 4.4.1 Global
- 4.4.2 Australia
- 4.4.3 Brazil
- 4.4.4 Canada
- 4.4.5 China
- 4.4.6 France
- 4.4.7 Germany
- 4.4.8 India
- 4.4.9 Iran
- 4.4.10 Japan
- 4.4.11 New Zealand
- 4.4.12 Russia
- 4.4.13 Singapore
- 4.4.14 South Korea
- 4.4.15 United Arab Emirates
- 4.4.16 United Kingdom
- 4.4.17 United States
- 4.5 Value Chain & Distribution Channel Analysis
5. MARKET SEGMENTATION (includes market size in Value in USD, Forecasts up to 2029 and analysis of growth prospects)
-
5.1 Satellite Mass
- 5.1.1 10-100kg
- 5.1.2 100-500kg
- 5.1.3 500-1000kg
- 5.1.4 Below 10 Kg
- 5.1.5 above 1000kg
-
5.2 Orbit Class
- 5.2.1 GEO
- 5.2.2 LEO
- 5.2.3 MEO
-
5.3 Satellite Subsystem
- 5.3.1 Propulsion Hardware and Propellant
- 5.3.2 Satellite Bus & Subsystems
- 5.3.3 Solar Array & Power Hardware
- 5.3.4 Structures, Harness & Mechanisms
-
5.4 Application
- 5.4.1 Communication
- 5.4.2 Earth Observation
- 5.4.3 Navigation
- 5.4.4 Space Observation
- 5.4.5 Others
-
5.5 Region
- 5.5.1 Asia-Pacific
- 5.5.2 Europe
- 5.5.3 North America
- 5.5.4 Rest of World
6. COMPETITIVE LANDSCAPE
- 6.1 Key Strategic Moves
- 6.2 Market Share Analysis
- 6.3 Company Landscape
-
6.4 Company Profiles (includes Global Level Overview, Market Level Overview, Core Business Segments, Financials, Headcount, Key Information, Market Rank, Market Share, Products and Services, and Analysis of Recent Developments).
- 6.4.1 Airbus SE
- 6.4.2 BAE Systems
- 6.4.3 China Aerospace Science and Technology Corporation (CASC)
- 6.4.4 Elbit Systems
- 6.4.5 General Dynamics
- 6.4.6 Indian Space Research Organisation (ISRO)
- 6.4.7 Information Satellite Systems Reshetnev
- 6.4.8 Lockheed Martin Corporation
- 6.4.9 Raytheon Technologies Corporation
- 6.4.10 ROSCOSMOS
- 6.4.11 Thales
- 6.4.12 Viasat, Inc.
7. KEY STRATEGIC QUESTIONS FOR SATELLITE CEOS
8. APPENDIX
-
8.1 Global Overview
- 8.1.1 Overview
- 8.1.2 Porter's Five Forces Framework
- 8.1.3 Global Value Chain Analysis
- 8.1.4 Market Dynamics (DROs)
- 8.2 Sources & References
- 8.3 List of Tables & Figures
- 8.4 Primary Insights
- 8.5 Data Pack
- 8.6 Glossary of Terms
List of Tables & Figures
- Figure 1:
- MINIATURE SATELLITES (BELOW 10KG), NUMBER OF LAUNCHES, GLOBAL, 2017 - 2022
- Figure 2:
- SATELLITE MASS (ABOVE 10KG) GLOBALLY, NUMBER OF SATELLITES LAUNCHED, GLOBAL, 2017 - 2022
- Figure 3:
- SPENDING ON SPACE PROGRAMS GLOBALLY, USD, GLOBAL, 2017 - 2022
- Figure 4:
- GLOBAL MILITARY SATELLITE MARKET, VALUE, USD, 2017 - 2029
- Figure 5:
- VALUE OF MILITARY SATELLITE MARKET BY SATELLITE MASS, USD, GLOBAL, 2017 - 2029
- Figure 6:
- VALUE SHARE OF MILITARY SATELLITE MARKET BY SATELLITE MASS, %, GLOBAL, 2017 VS 2023 VS 2029
- Figure 7:
- VALUE OF 10-100KG MARKET, USD, GLOBAL, 2017 - 2029
- Figure 8:
- VALUE OF 100-500KG MARKET, USD, GLOBAL, 2017 - 2029
- Figure 9:
- VALUE OF 500-1000KG MARKET, USD, GLOBAL, 2017 - 2029
- Figure 10:
- VALUE OF BELOW 10 KG MARKET, USD, GLOBAL, 2017 - 2029
- Figure 11:
- VALUE OF ABOVE 1000KG MARKET, USD, GLOBAL, 2017 - 2029
- Figure 12:
- VALUE OF MILITARY SATELLITE MARKET BY ORBIT CLASS, USD, GLOBAL, 2017 - 2029
- Figure 13:
- VALUE SHARE OF MILITARY SATELLITE MARKET BY ORBIT CLASS, %, GLOBAL, 2017 VS 2023 VS 2029
- Figure 14:
- VALUE OF GEO MARKET, USD, GLOBAL, 2017 - 2029
- Figure 15:
- VALUE OF LEO MARKET, USD, GLOBAL, 2017 - 2029
- Figure 16:
- VALUE OF MEO MARKET, USD, GLOBAL, 2017 - 2029
- Figure 17:
- VALUE OF MILITARY SATELLITE MARKET BY SATELLITE SUBSYSTEM, USD, GLOBAL, 2017 - 2029
- Figure 18:
- VALUE SHARE OF MILITARY SATELLITE MARKET BY SATELLITE SUBSYSTEM, %, GLOBAL, 2017 VS 2023 VS 2029
- Figure 19:
- VALUE OF PROPULSION HARDWARE AND PROPELLANT MARKET, USD, GLOBAL, 2017 - 2029
- Figure 20:
- VALUE OF SATELLITE BUS & SUBSYSTEMS MARKET, USD, GLOBAL, 2017 - 2029
- Figure 21:
- VALUE OF SOLAR ARRAY & POWER HARDWARE MARKET, USD, GLOBAL, 2017 - 2029
- Figure 22:
- VALUE OF STRUCTURES, HARNESS & MECHANISMS MARKET, USD, GLOBAL, 2017 - 2029
- Figure 23:
- VALUE OF MILITARY SATELLITE MARKET BY APPLICATION, USD, GLOBAL, 2017 - 2029
- Figure 24:
- VALUE SHARE OF MILITARY SATELLITE MARKET BY APPLICATION, %, GLOBAL, 2017 VS 2023 VS 2029
- Figure 25:
- VALUE OF COMMUNICATION MARKET, USD, GLOBAL, 2017 - 2029
- Figure 26:
- VALUE OF EARTH OBSERVATION MARKET, USD, GLOBAL, 2017 - 2029
- Figure 27:
- VALUE OF NAVIGATION MARKET, USD, GLOBAL, 2017 - 2029
- Figure 28:
- VALUE OF SPACE OBSERVATION MARKET, USD, GLOBAL, 2017 - 2029
- Figure 29:
- VALUE OF OTHERS MARKET, USD, GLOBAL, 2017 - 2029
- Figure 30:
- VALUE OF MILITARY SATELLITE MARKET BY REGION, USD, GLOBAL, 2017 - 2029
- Figure 31:
- VALUE SHARE OF MILITARY SATELLITE MARKET BY REGION, %, GLOBAL, 2017 VS 2023 VS 2029
- Figure 32:
- VALUE OF MILITARY SATELLITE MARKET, USD, ASIA-PACIFIC, 2017 - 2029
- Figure 33:
- VALUE SHARE OF MILITARY SATELLITE MARKET BY APPLICATION, %, ASIA-PACIFIC, 2017 - 2029
- Figure 34:
- VALUE OF MILITARY SATELLITE MARKET, USD, EUROPE, 2017 - 2029
- Figure 35:
- VALUE SHARE OF MILITARY SATELLITE MARKET BY APPLICATION, %, EUROPE, 2017 - 2029
- Figure 36:
- VALUE OF MILITARY SATELLITE MARKET, USD, NORTH AMERICA, 2017 - 2029
- Figure 37:
- VALUE SHARE OF MILITARY SATELLITE MARKET BY APPLICATION, %, NORTH AMERICA, 2017 - 2029
- Figure 38:
- VALUE OF MILITARY SATELLITE MARKET, USD, REST OF WORLD, 2017 - 2029
- Figure 39:
- VALUE SHARE OF MILITARY SATELLITE MARKET BY APPLICATION, %, REST OF WORLD, 2017 - 2029
- Figure 40:
- NUMBER OF STRATEGIC MOVES OF MOST ACTIVE COMPANIES, GLOBAL MILITARY SATELLITE MARKET, ALL, 2017 - 2029
- Figure 41:
- TOTAL NUMBER OF STRATEGIC MOVES OF COMPANIES, GLOBAL MILITARY SATELLITE MARKET, ALL, 2017 - 2029
- Figure 42:
- MARKET SHARE OF GLOBAL MILITARY SATELLITE MARKET, %, ALL, 2022
Military Satellite Industry Segmentation
10-100kg, 100-500kg, 500-1000kg, Below 10 Kg, above 1000kg are covered as segments by Satellite Mass. GEO, LEO, MEO are covered as segments by Orbit Class. Propulsion Hardware and Propellant, Satellite Bus & Subsystems, Solar Array & Power Hardware, Structures, Harness & Mechanisms are covered as segments by Satellite Subsystem. Communication, Earth Observation, Navigation, Space Observation, Others are covered as segments by Application. Asia-Pacific, Europe, North America are covered as segments by Region.
- A satellite or a spacecraft is usually placed into one of many special orbits around the Earth, or it can be launched into an interplanetary journey based on its intended application. Out of the three orbits, namely low Earth orbit (LEO), geostationary orbit (GEO), and medium Earth orbit (MEO), the LEO orbit is the most widely preferred one because of its proximity to the Earth.
- Many weather and communication satellites tend to have high Earth orbits, which are farthest from the surface. Satellites in mean (medium) Earth orbit include navigational and specialized satellites designed to monitor a specific area. Each distance has benefits and challenges, including increased coverage and decreased energy efficiency. Most science satellites, including NASA's Earth Observation System team, are in low Earth orbit.
- During 2017-2022, out of the 57 satellites launched in the MEO orbit, most were built for navigation/global positioning purposes. Similarly, out of the 147 satellites in the GEO orbit, most were deployed for communication and Earth observation purposes. Around 4,131 LEO satellites manufactured and launched were owned by North American organizations in that period.
- The increasing use of satellites in areas such as electronics intelligence, Earth science/meteorology, laser imaging, and optical imaging is expected to drive the demand for the development of satellites during the forecast period.
| Satellite Mass | 10-100kg |
| 100-500kg | |
| 500-1000kg | |
| Below 10 Kg | |
| above 1000kg | |
| Orbit Class | GEO |
| LEO | |
| MEO | |
| Satellite Subsystem | Propulsion Hardware and Propellant |
| Satellite Bus & Subsystems | |
| Solar Array & Power Hardware | |
| Structures, Harness & Mechanisms | |
| Application | Communication |
| Earth Observation | |
| Navigation | |
| Space Observation | |
| Others | |
| Region | Asia-Pacific |
| Europe | |
| North America | |
| Rest of World |
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Market Definition
- Application - Various applications or purposes of the satellites are classified into communication, earth observation, space observation, navigation, and others. The purposes listed are those self-reported by the satellite’s operator.
- End User - The primary users or end users of the satellite is described as civil (academic, amateur), commercial, government (meteorological, scientific, etc.), military. Satellites can be multi-use, for both commercial and military applications.
- Launch Vehicle MTOW - The launch vehicle MTOW (maximum take-off weight) means the maximum weight of the launch vehicle during take-off, including the weight of payload, equipment and fuel.
- Orbit Class - The satellite orbits are divided into three broad classes namely GEO, LEO, and MEO. Satellites in elliptical orbits have apogees and perigees that differ significantly from each other and categorized satellite orbits with eccentricity 0.14 and higher as elliptical.
- Propulsion tech - Under this segment, different types of satellite propulsion systems have been classified as electric, liquid-fuel and gas-based propulsion systems.
- Satellite Mass - Under this segment, different types of satellite propulsion systems have been classified as electric, liquid-fuel and gas-based propulsion systems.
- Satellite Subsystem - All the components and subsystems which includes propellants, buses, solar panels, other hardware of satellites are included under this segment.
| Keyword | Definition |
|---|---|
| Attitude Control | The orientation of the satellite relative to the Earth and the sun. |
| INTELSAT | The International Telecommunications Satellite Organization operates a network of satellites for international transmission. |
| Geostationary Earth Orbit (GEO) | Geostationary satellites in Earth orbit 35,786 km (22,282 mi) above the equator in the same direction and at the same speed as the earth rotates on its axis, making them appear fixed in the sky. |
| Low Earth Orbit (LEO) | Low Earth Orbit satellites orbit from 160-2000km above the earth, take approximately 1.5 hours for a full orbit and only cover a portion of the earth’s surface. |
| Medium Earth Orbit (MEO) | MEO satellites are located above LEO and below GEO satellites and typically travel in an elliptical orbit over the North and South Pole or in an equatorial orbit. |
| Very Small Aperture Terminal (VSAT) | Very Small Aperture Terminal is an antenna that is typically less than 3 meters in diameter |
| CubeSat | CubeSat is a class of miniature satellites based on a form factor consisting of 10 cm cubes. CubeSats weigh no more than 2 kg per unit and typically use commercially available components for their construction and electronics. |
| Small Satellite Launch Vehicles (SSLVs) | Small Satellite Launch Vehicle (SSLV) is a three-stage Launch Vehicle configured with three Solid Propulsion Stages and a liquid propulsion-based Velocity Trimming Module (VTM) as a terminal stage |
| Space Mining | Asteroid mining is the hypothesis of extracting material from asteroids and other asteroids, including near-Earth objects. |
| Nano Satellites | Nanosatellites are loosely defined as any satellite weighing less than 10 kilograms. |
| Automatic Identification System (AIS) | Automatic identification system (AIS) is an automatic tracking system used to identify and locate ships by exchanging electronic data with other nearby ships, AIS base stations, and satellites. Satellite AIS (S-AIS) is the term used to describe when a satellite is used to detect AIS signatures. |
| Reusable launch vehicles (RLVs) | Reusable launch vehicle (RLV) means a launch vehicle that is designed to return to Earth substantially intact and therefore may be launched more than one time or that contains vehicle stages that may be recovered by a launch operator for future use in the operation of a substantially similar launch vehicle. |
| Apogee | The point in an elliptical satellite orbit which is farthest from the surface of the earth. Geosynchronous satellites which maintain circular orbits around the earth are first launched into highly elliptical orbits with apogees of 22,237 miles. |
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Research Methodology
Mordor Intelligence follows a four-step methodology in all our reports.
- Step-1: Identify Key Variables: In order to build a robust forecasting methodology, the variables and factors identified in Step-1 are tested against available historical market numbers. Through an iterative process, the variables required for market forecast are set and the model is built on the basis of these variables.
- Step-2: Build a Market Model: Market-size estimations for the historical and forecast years have been provided in revenue and volume terms. For sales conversion to volume, the average selling price (ASP) is kept constant throughout the forecast period for each country, and inflation is not a part of the pricing.
- Step-3: Validate and Finalize: In this important step, all market numbers, variables and analyst calls are validated through an extensive network of primary research experts from the market studied. The respondents are selected across levels and functions to generate a holistic picture of the market studied.
- Step-4: Research Outputs: Syndicated Reports, Custom Consulting Assignments, Databases & Subscription Platforms.
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