Press Release

Global Market for Military Satellites to Grow Significantly - Asia to play a key Role

Apr 26, 2013 Publisher: Global Energy Pvt.Ltd

The global market for military satellites is expected to rise to $17.3 billion from the level of $11.8 billion in 2012 as per a new research report available at The primary uses of these satellites will continue to be Intelligence, Surveillance and Reconnaissance (ISR), military communications and navigation. It is expected that North America will continue to be the lead market for military satellites followed by Europe and the Asia Pacific region. However, with the cuts in the US Defence budget (the prime North American Market) and the military budgets of several European countries, the Asia Pacific Region market is expected to give much needed impetus to the overall military satellites market. The main reason for this is that many Asian countries have been seeking to significantly enhance the conventional capacity of their armed forces through exploiting the technological advances and capabilities that satellite based communication, navigation and surveillance systems provide. There is also an increasing trend of using satellite imagery to support precision counterinsurgency operations as well as for uses such as disaster management operations, border management and coastal surveillance. While Asian countries like India have already invested heavily in terms of developing the capability to produce and launch their own satellites, several others, including in particular South Korea, are expected to spend significantly in the coming years to boost their satellite imagery capabilities for surveillance purposes.

The possibility of Asian countries requiring their own remote sensing satellites for military purposes but being constrained by either technical or financial constraints could well pave the way for more of Public Private Partnerships between Asian countries and global leaders in military satellite market such as Boeing, Northrop Grumman, Thales, Raytheon, Lockheed Martin and Harris Corporation. However many of the major mi