Military Satellite Payloads and Subsystems Market to increase by USD 2.91 billion during 2022-2027 | The increased seaborne security threats drive market growth - Technavio
NEW YORK, Nov. 29, 2023 /PRNewswire/ -- The military satellite payloads and subsystems market size is expected to grow by USD 2.91 billion between 2022 and 2027. However, the growth momentum of the market will progress at a CAGR of 7.97% during the forecast period. The market is segmented by Type (Optical sensors and other sensors payloads, Avionics and subsystems, and Datalink and communication systems), Application (Communication, Navigation, and Reconnaissance), and Geography (North America, Europe, APAC, Middle East and Africa, and South America).
The increased seaborne security threats drive market growth. Various countries share boundaries with the sea and face difficulty in maintaining security across their boundaries. Such boundaries are prone to several illegal activities such as sea piracy, human trafficking, drug smuggling, and illegal fishing. Various trespassers and illegal immigrants use this sea route to enter different countries. The report analyses the market size and growth and provides accurate predictions on the growth of the market. View a Free PDF Sample
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The Global Navigation Satellite System (GNSS) Market is estimated to grow at a CAGR of 9.44% between 2022 and 2027, and the size of the market is forecasted to increase by USD 119.57 billion.
The global radiation-hardened electronics market size is estimated to grow by USD 340.35 million between 2022 and 2027 accelerating at a CAGR of 4.02%.
Historic Market Sizes
Five Forces Analysis
Market Segmentation by Type
Market Segmentation by Application
Market Segmentation by Geography
Drivers, Challenges, & Trends
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