Space Militarization Market Opportunities And Strategies 2024-2033 – Size, Growth Analysis, Outlook, Overview

Space Militarization Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.

Market Size –

The space militarization market size has grown strongly in recent years. It will grow from $50.18 billion in 2023 to $54.71 billion in 2024 at a compound annual growth rate (CAGR) of 9.0%.  The growth in the historic period can be attributed to development of reusable space launch systems for military payloads, rising concerns about space debris, rising focus on space traffic management, deployment of space-based missile defense systems, rising demand for space-based intelligence, surveillance, and reconnaissance (ISR).

The space militarization market size is expected to see strong growth in the next few years. It will grow to $73.52 billion in 2028 at a compound annual growth rate (CAGR) of 7.7%.  The growth in the forecast period can be attributed to increasing competition among space-faring nations, development of counter-space capabilities, rising demand for space-based reconnaissance satellites, growing investment in space defense systems, and growth of commercial space-based security services. Major trends in the forecast period include development of anti-satellite weapons, integration of ai and machine learning in space defense, advances in satellite imaging technology, shift towards resilient space architectures, integration of autonomous systems in space defense.

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Scope Of Space Militarization Market

The Business Research Company’s reports encompass a wide range of information, including:

1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.

Space Militarization Market Overview

Market Drivers –

The rising focus on space traffic management is expected to propel the growth of the space militarization market going forward. Space traffic management refers to the coordination and regulation of space activities and objects to ensure safe and efficient operations in Earth’s orbit. The increasing number of satellites and space activities, leading to heightened concerns about orbital congestion and safety, raises the focus on space traffic management. Space militarization contributes to the rising focus on space traffic management by enabling operations, exercises, and logistics worldwide and developing technologies and strategies to protect space assets and ensure secure and orderly operations in orbit. For instance, in July 2023, according to the United Nations Office for Outer Space Affairs, an Austria-based office of the U.N. Secretariat, countries had deployed a total of 6,718 active satellites into orbit around the planet as of January 2022, representing an increase of nearly 2,000 satellites from the previous year. Therefore, the rising focus on space traffic management is driving the growth of the space militarization market.

Market Trends –

Major companies operating in the space militarization market are developing advanced solutions, such as an open Earth Orbit (LEO) network of military satellites, to maximize profitability in the market. A Low Earth Orbit (LEO) network of military satellites refers to a system of satellites positioned in low-altitude Earth orbit, typically at altitudes ranging from approximately 180 to 2,000 kilometers (112 to 1,242 miles) above the Earth’s surface. For instance, in December 2023, Rocket Lab USA Inc., a US-based aerospace technology company, received a $515 million contract to build 18 satellites for a US government agency, believed to be the Space Development Agency (SDA). The contract includes designing, manufacturing, delivering, and operating the satellites, which will be part of the SDA’s low-earth orbit network of military satellites known as the Proliferated Warfighter Space Architecture. The satellites will be part of the Transport Layer Tranche 2 Beta, consisting of communication satellites to enable beyond-line-of-sight connectivity for military forces on the ground. These satellites will carry radios using the UHF and S-band frequencies that military and intelligence units rely upon for voice and low-speed data transmissions.

The space militarization market covered in this report is segmented –

1) By Type: Manned Spacecraft, Unmanned Spacecraft

2) By Capability: Defense, Support

3) By Solution: Space-Based Equipment, Space Stations, Satellites, Ground-Based Equipment, Logistics And Services

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Regional Insights –

North America was the largest region in the space militarization market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the space militarization market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Key Companies –

Major companies operating in the space militarization market are Raytheon Technologies Corporation, The Boeing Company, Lockheed Martin Corporation, Airbus SAS, General Dynamics Corporation, Northrop Grumman Corporation, Mitsubishi Heavy Industries Ltd., BAE Systems plc, L3Harris Technologies Inc., Leonardo S.p.A., Thales SA, Rheinmetall AG, Serco Group Plc, Teledyne Technologies Inc., Israel Aerospace Industries Ltd., Saab AB, Space Exploration Technologies Corp., Aerojet Rocketdyne Holdings Inc., SES SA, QinetiQ Group plc, Aselsan A.S., Orbital ATK, Maxar Technologies Inc., Kratos Defense & Security Solutions Inc., Ball Aerospace & Technologies Corp., Cobham plc

Table of Contents

1. Executive Summary
2. Space Militarization Market Report Structure
3. Space Militarization Market Trends And Strategies
4. Space Militarization Market – Macro Economic Scenario
5. Space Militarization Market Size And Growth
…..
27. Space Militarization Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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