Military Satellite Market Growth to 2020 Driven by Demand for Electro-Optical Imaging Systems
PUNE, India, June 13, 2016 /PRNewswire/ --
Global military satellite market analysts forecast emergence of inflatable SATCOM antennas to boost the market growth. Technological advancements in antenna and satellite technology, along with nimble and high-capacity global networks, have brought military forces into the limelight. The emergence of inflatable SATCOM antennas, designed for ground military use in remote areas and harsh weather is one such significant development.
Complete report on military satellite market spread across 101 pages, analyzing 5 major companies and providing 61 data exhibits now available at http://www.sandlerresearch.org/global-military-satellite-market-2016-2020.html.
The analysts forecast global military satellite market to grow at a CAGR of 5.70% during the period 2016-2020. According to the 2016 report, a key growth driver for military satellite market is the increasing demand for electro-optical imaging systems. Advanced image-enhancing equipment such as high-resolution cameras and advanced remote-sensing technology has improved the quality of satellite-based Earth observation images. Such equipment offers a single internet access point to all the users to obtain EO data from existing databases as well as from the new up-to-date portals. Thus, users from various domains can access the information directly.
The global military satellite market is highly competitive with vendors competing on the basis of cost, product quality, reliability, and aftermarket service. In order to survive and succeed in such an intensely competitive environment, it is crucial for the vendors to provide cost-effective and high-quality satellite systems with latest technology and materials.
The military satellite market report also highlights Northrop Grumman and Thales Group as the two leading vendors in the market, who compete in terms of availability, price, quality, and technology. Their focus is primarily on the implementation of lightweight materials, more electric technologies, and robust systems. Also, Lockheed Martin, a prominent vendor of the market, is the prime contractor for a number of major US military stellite programs, such as the Advanced EHF constellation, the US Navy's MUOS, the GPS III, and the SBIRS High system.
Further, the military satellite market report states that one challenge that could hamper market growth is the cost associated with satellite launches. Researchers believe in-house manufacturing capabilities, product offerings, global footprint network, R&D investments, newer technologies, and strong client base have become the key areas to have an edge over the competitors. Factors like global economic recovery, the growth of the aerospace and defense sector, and R&D investments have opened room for opportunities for defense vendors to compete and grow.
The following companies are the key players in the global military satellite market: Boeing, Israel Aerospace Industries (IAI), Northrop Grumman, Raytheon, and Thales Group. Other Prominent Vendors in the market are: Airbus Defence and Space, GE Aviation, Lockheed Martin, SpaceX, and ViaSat. Order a copy of Global Military Satellite Market 2016-2020 report @ http://www.sandlerresearch.org/purchase?rname=55585.
Global Military Satellite Market 2016-2020, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market. The report covers the present scenario and the growth prospects of the global military satellite market for 2016-2020.
Another related report is Global Satellite-Based Augmentation Systems 2016-2020, the analysts forecast global satellite-based augmentation system market to grow at a CAGR of 5.2% during the period 2016-2020. It is necessary to maximize the utilization of the available airspace in a safe and efficient manner. The aviation industry requires substantial investment and improvement in ATC systems. There have been several such activities worldwide in the upgrade of ATC infrastructure. Such efforts have helped the growth of the global satellite-based augmentation system market. Browse complete report @ http://www.sandlerresearch.org/global-satellite-based-augmentation-systems-2016-2020.html.
Explore other new reports on Defence Market @ http://www.sandlerresearch.org/market-research/defence.
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