Frost & Sullivan: US Defense Satellite Market to Reach $30B by 2023

A new Frost & Sullivan analysis predicts the U.S. market for defense satellites will experience a 10.3 percent compound annual growth rate and reach approximately $30.3 billion in the next five years.

The market research firm said Tuesday the potential market growth can be attributed to the Defense Department’s efforts to strengthen its satellite infrastructure through modernization, program funding and offensive and counter space programs against cyber warfare.

The report cited five trends that could offer growth opportunities for the U.S. defense satellite market, including the development of long-lasting satellite materials that could protect signals through the use of encryption technologies and spending on position, navigation and timing technologies.

Frost & Sullivan forecasts the U.S. Air Force’s defense satellite spending will reach approximately $28.04 billion by 2023 and that DoD will forge new partnerships with the private sector to speed up program timelines and facilitate research-and-development work.

PNT and communications areas were the two largest spending segments in 2017, the report noted.

“As a nation with the largest number of satellites, the US DoD is taking every precaution to protect against adversaries’ evolving threats and ensure that space systems are constantly operational,” said John Hernandez, senior industry analyst for defense at Frost & Sullivan.

“Resilient satellite communications, PNT and reliable weather data are imperative for successful military operations as well as ensuring robust missile detection,” he added.

Industry players cited in the report include Harris, Raytheon, Lockheed Martin, L3 Technologies and United Launch Alliance.

You may also be interested in...

Nimbix

Nimbix Unveils High-Performance Computing Offerings for Gov’t Customers

Nimbix has announced availability of its high-performance computing services to support cloud platforms compliant with the Federal Risk and Authorization Management Program, International Traffic in Arms Regulations and other government-imposed security standards. The company said Tuesday its JARVICE XE and HyperHub platforms offer HPC for artificial intelligence and simulation uses in defense, aerospace, energy and health care industries.

Tutor Perini

Tutor Perini Subsidiary Awarded $67M for Defense, Homeland Security Infrastructure Projects

A Tutor Perini subsidiary has booked $66.9 million in two awards for construction efforts with the departments of Defense and Homeland Security. Perini Management Services Inc. will renovate U.S. Air Force Academy's Cadet Field House in Colorado and design and build a dormitory at the Glynco campus for DHS.

Intelligent Artifacts

Intelligent Artifacts to Launch R&D on Sensor Fusion Tech for USAF

New York-based artificial intelligence company Intelligent Artifacts has secured a contract of an undisclosed sum through the first phase of the Small Business Innovation Research program to explore and develop a sensor fusion technology for the U.S. Air Force.