Report Predicts US Govt, Military Satellite Market CAGR of 3.6% Through 2022

A Frost & Sullivan report, released by Research and Markets, forecasts the U.S. government and military satellite market will reach an average of $53.78 million in value at a compound annual growth rate of 3.6 percent over the next five years.

Research and Markets said Friday the U.S. government accounted for approximately $1.34 billion of the overall global spending on commercial satellite services during 2015.

The company noted that satellite demands fluctuate with global U.S. global relations but countries in the Europe, Middle East and Africa region consistently have high demands for U.S. military satellite communications services.

Military conflicts and global tensions worldwide also impact the need for satellite services which can provide surveillance and information sharing capacities. according to the report.

The report also highlighted growth opportunities, drivers and restraints, forecasts and trends in the government and military satellite market.

Key industry players featured in the report include Inmarsat, IridiumIntelsatEutelsatSES and Telesat.

You may also be interested in...

Blue Origin

Blue Origin Launches 14th New Shepard Mission With Updated Crew Capsule

Blue Origin, a space company owned by Amazon CEO Jeff Bezos, used a capsule with updated crew systems during the company's 14th mission with the New Shepard rocket. The updated capsule featured new push-to-talk communications systems, noise reduction tools, cushioned wall linings, environmental systems and a crew alert system, Blue Origin said Thursday.


Teledyne Subsidiary to Produce Additional Navy LCS Missile Defense Modules

A Teledyne Technologies subsidiary has secured an $18M contract from Northrop Grumman to manufacture four more missile defense systems for the U.S. Navy's littoral combat ship mission package.


Lockheed’s Orion Spacecraft Concludes Assembly, Testing for NASA’s Artemis Mission to Lunar Orbit

Lockheed Martin has sent the Orion capsule to NASA’s exploration ground systems team for final preparations ahead of the unmanned Artemis I mission to lunar orbit that will launch later this year. The spacecraft concluded assembly operations and testing at Kennedy Space Center in Florida.