Connect with us

Technology

Satellite Communication Market in Defense to Grow by USD 3.7 Billion from 2024-2028, Rising Seaborne Security Threats Drive Growth, Report with AI-Powered Market Evolution – Technavio

Published

on

NEW YORK, Nov. 7, 2024 /PRNewswire/ — Report on how AI is driving market transformation – The global satellite communication market in defense sector size is estimated to grow by USD 3.7 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of  9.3%  during the forecast period. Increased seaborne security threats is driving market growth, with a trend towards use of AI in satellite communication for earth-based observation. However, high cost of satellite hardware and components poses a challenge.Key market players include Airbus SE, Cobham Ltd., EchoStar Corp., Elbit Systems Ltd., Eutelsat S.A., General Dynamics Corp., Honeywell International Inc., Indra Sistemas SA, Inmarsat Global Ltd., KVH Industries Inc., L3Harris Technologies Inc., Lockheed Martin Corp., NSIL Corp. Ltd., ORBCOMM Inc., RTX Corp., Thales Group, Thuraya Telecommunications Co., and Viasat Inc..

Key insights into market evolution with AI-powered analysis. Explore trends, segmentation, and growth drivers- View Free Sample PDF

Satellite Communication Market In Defense Sector Scope

Report Coverage

Details

Base year

2023

Historic period

2018 – 2022

Forecast period

2024-2028

Growth momentum & CAGR

Accelerate at a CAGR of 9.3%

Market growth 2024-2028

USD 3659.5 million

Market structure

Fragmented

YoY growth 2022-2023 (%)

8.3

Regional analysis

North America, Europe, APAC, South America, and Middle East and Africa

Performing market contribution

North America at 39%

Key countries

US, China, UK, Germany, and India

Key companies profiled

Airbus SE, Cobham Ltd., EchoStar Corp., Elbit Systems Ltd., Eutelsat S.A., General Dynamics Corp., Honeywell International Inc., Indra Sistemas SA, Inmarsat Global Ltd., KVH Industries Inc., L3Harris Technologies Inc., Lockheed Martin Corp., NSIL Corp. Ltd., ORBCOMM Inc., RTX Corp., Thales Group, Thuraya Telecommunications Co., and Viasat Inc.

Market Driver

Satellite communication (SATCOM) in the defense sector is experiencing significant growth due to the increasing demand for real-time data transmission, video streaming, and IoT connectivity. Frequency bands such as X, C, and Ku are commonly used in military applications. Multi-orbit communication, including Low Earth Orbit (LEO) and Geostationary Orbit (GEO), is trending, with satellite constellations like Starlink and OneWeb leading the way. ISR, RPAS, and UAVs rely on SATCOM for connectivity, enabling real-time data tracking and analysis. AI and machine-to-machine communication are also transforming defense, with applications in autonomous technology and cybersecurity. Satellite infrastructure provides remote connectivity for digital transformation in defense forces. Commercial SATCOM equipment is used for maritime and airborne applications, while smart city initiatives and telecommunications benefit from satellite technology. Navigation services, weather tracking, and cybersecurity concerns are ongoing challenges. Satellite manufacturing, space technology, and space programs continue to innovate, with nanosatellites and microsatellites playing a growing role. 

In the defense sector, the integration of Artificial Intelligence (AI) in satellite communication is becoming increasingly valuable. Machine learning and analysis algorithms innovations enable AI to extract useful information from satellite-transmitted data. With a single satellite sending over a terabyte of earth imagery daily, human analysts find it challenging to process this vast amount of data. AI-based software applications simplify the process by gaining insights from the raw data, thereby driving their adoption in the defense sector. This trend is expected to continue as AI technology advances and becomes more sophisticated. 

Request Sample of our comprehensive report now to stay ahead in the AI-driven market evolution!

 Market Challenges

•         Satellite communication (SATCOM) plays a crucial role in the defense sector, enabling real-time data transmission for Intelligence, Surveillance, and Reconnaissance (ISR) missions. SATCOM supports voice communications, high-speed internet, navigation, and video streaming for unmanned aerial vehicles (UAVs) and remote connectivity for military forces. The defense industry faces challenges in managing frequency bands and satcom spectrum for connectivity solutions, including multi-orbit communication and satellite constellations. The integration of IoT, AI, and Intelligent Transport Systems (ITS) requires broadband internet access and machine-to-machine communication for asset tracking and environmental monitoring. Satellite infrastructure is essential for digital transformation, particularly in areas with limited terrestrial network coverage. Defense forces rely on satellite communication for direct-to-home (DTH) broadcasting, navigation services, and weather tracking. Cybersecurity concerns and the increasing use of autonomous technology necessitate satellite infrastructure and secure antenna systems. Satellite manufacturing, space technology, and space programs are essential for producing advanced communications satellites, including CubeSats, nanosatellites, and microsatellites. The defense sector’s satellite communication needs continue to evolve, driven by the demands of modern warfare and digital transformation.

•         Satellite communication in the defense sector faces unique challenges due to the extreme conditions of space and stringent security and certification requirements. The cost of developing and manufacturing satellites has increased significantly due to the use of advanced materials and technologies. Transponders, a crucial component of satellites, require substantial maintenance costs, amounting to hundreds of thousands of dollars annually. Additionally, the minimum cost of bandwidth per MHz is approximately USD3,500 per month. These factors contribute to the high expenses associated with satellite communication in the defense sector. Despite these challenges, the benefits of secure and reliable satellite communication for military applications make it an essential investment for defense organizations.

Discover how AI is revolutionizing market trends- Get your access now!

Segment Overview 

This satellite communication market in defense sector report extensively covers market segmentation by  

Application 1.1 Surveillance and tracking1.2 Remote sensing1.3 Disaster recovery1.4 OthersGeography 2.1 North America2.2 Europe2.3 APAC2.4 South America2.5 Middle East and Africa

1.1 Surveillance and tracking-  Satellite communication plays a crucial role in the defense sector by providing essential data regarding territorial boundaries and enhancing security. Defense satellites can transmit information from enemy territories, identify suspicious locations, and guide military personnel during active missions. They also ensure the safety of military personnel and provide extra security coverage for leaders and high-ranking officials. Countries like India, the US, and Israel have launched defense satellites, such as NROL-44 by the US National Reconnaissance Office (NRO), to obtain surveillance data and monitor field operatives in challenging terrains. These satellites contribute significantly to the growth of the surveillance and tracking segment in the satellite communication market within the forecast period.

Download a Sample of our comprehensive report today to discover how AI-driven innovations are reshaping competitive dynamics

Research Analysis

Satellite Communication, a vital component of the defense sector, enables data transmission and voice communications over long distances. It provides high-speed internet, navigation, remote sensing, and weather tracking capabilities, making it essential for military operations. The technology utilizes electromagnetic waves transmitted through frequency bands, including Satcom Spectrum, to deliver connectivity solutions. Multi-orbit communication through various orbits, such as Geostationary Orbit (GEO) and Low Earth Orbit (LEO), supports various applications, including video streaming, IoT connectivity, and machine-to-machine communication. Small satellite constellations are increasingly popular due to their cost-effectiveness and flexibility. Earth Observation Systems and Weather Satellites are crucial applications in defense, providing real-time intelligence and monitoring capabilities. Satellites and spacecraft in various orbits around Earth facilitate these services, revolutionizing defense communications.

Market Research Overview

Satellite communication (SATCOM) plays a crucial role in the defense sector, providing secure and reliable connectivity for various applications. SATCOM enables real-time data transmission for Intelligence, Surveillance, and Reconnaissance (ISR) missions, Remote Piloted Aircraft Systems (RPAS) or Unmanned Aerial Vehicles (UAVs), and other defense operations. Frequency bands such as S-band, X-band, and Ka-band are commonly used for defense SATCOM, with multi-orbit communication including Low Earth Orbit (LEO) and Geostationary Orbit (GEO) providing coverage for different regions and applications. SATCOM supports various defense initiatives, including video streaming for situational awareness, IoT connectivity for asset tracking and environmental monitoring, and machine-to-machine communication for autonomous technology. Satellite constellations, including small satellite constellations like CubeSats and nanosatellites, offer cost-effective solutions for real-time data tracking and broadband internet access. SATCOM infrastructure includes antennas, navigation services, and satellite manufacturing for space technology and space programs. Defense forces rely on SATCOM for communication networks, airborne and maritime equipment, and smart city initiatives. However, cybersecurity concerns are a significant challenge for SATCOM in the defense sector, requiring advanced encryption and security measures. SATCOM applications in the defense sector include voice communications, high-speed internet, navigation, remote sensing, weather tracking, and spectrum allocation. SATCOM supports various defense missions, from military and defense operations to media and broadcasting, such as Direct-to-Home (DTH) broadcasting and airtime services. SATCOM infrastructure and technology continue to evolve, enabling new applications and enhancing defense capabilities.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

ApplicationSurveillance And TrackingRemote SensingDisaster RecoveryOthersGeographyNorth AmericaEuropeAPACSouth AmericaMiddle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

View original content to download multimedia:https://www.prnewswire.com/news-releases/satellite-communication-market-in-defense-to-grow-by-usd-3-7-billion-from-2024-2028–rising-seaborne-security-threats-drive-growth-report-with-ai-powered-market-evolution—technavio-302297200.html

SOURCE Technavio

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Technology

Qatar Development Bank announces strategic investment in global Islamic FinTech, Wahed

Published

on

By

DOHA, Qatar, Nov. 24, 2024 /PRNewswire/ — Qatar Development Bank (QDB) announces a strategic investment in Wahed, a global Shariah-compliant fintech.

Wahed currently manages over $1 billion in assets and has attracted over 400,000 clients worldwide. The company is built on the principles of democratizing access to financial services and offers clients access to Shariah-compliant investments in its mobile app. Wahed removes the barriers to sophisticated investment management services that have been traditionally reserved for high-net-worth investors.

Khalid Al Jassim, Executive Chairman of Wahed MENA said: ‘We are delighted to welcome our new shareholders, QDB. We believe Qatar is fully aligned with our mission in creating a technology-first Islamic finance leader that unlocks a financial ecosystem free from Riba. We look forward to supporting the Qatar National Vision 2030 of becoming a leading knowledge-based economy.

Ali Rahimtula, Partner at Cue Ball Capital said: “Qatar Development Bank’s strategic investment is a clear signal of the faith the industry has in Wahed and its ability to create the future of Islamic Finance.”

About Wahed

Founded in 2015, Wahed is a financial technology company that is advancing financial inclusion through accessible, affordable, and values-based investing. The company has made significant inroads in the world Shariah compliant investing by creating an easy-to-use digital platform that provides a suite of Shariah compliant investing products including managed portfolios and venture and real estate investments. Wahed caters to over 400,000 customers globally and manages over $ 1 billion in assets.

For more information, visit: www.wahed.com

About Qatar Development Bank

Qatar Development Bank’s mission is to advance the economic and innovation development cycle of Qatar, supporting and contributing to the nation’s economic diversification. As well as a focus on the development of Qatar’s private sector, QDB is a powerful catalyst for socio-economic development in the country, empowering the local economy and bettering living standards.

For more information, visit: https://www.qdb.qa/

 

SOURCE Wahed

Continue Reading

Technology

Wahed appoints Khalid Al Jassim as Executive Chairman of Wahed MENA to help guide the strategic growth of Wahed in the region

Published

on

By

DOHA, Qatar, Nov. 24, 2024 /PRNewswire/ — Wahed, a global Shariah-compliant fintech, has appointed Khalid Al Jassim as Chairman of Wahed MENA.

On this appointment, Khalid commented, ”I am excited to guide Wahed’s growth in the region. Wahed’s mission of furthering Islamic Finance is one I resonate with deeply and I look forward to supporting its growth ambitions.”

Khalid has over twenty five years of investment banking and corporate advisory experience gained with some of the most innovative and groundbreaking institutions in the world.

His career spans leading firms including SABIC, Arthur Anderson and Arcapita Bank in Bahrain, where he was instrumental in making it into one of the PE powerhouses in the region. His responsibilities started in the earlier years with establishing the Investment Placement Team and transforming it into one of the most robust teams in the industry. At the time that Khalid left Arcapita to build his personal business, he was an Executive Director. Today he is Chairman of Afkar Vision, a private advisory house specialized in mergers and acquisitions with offices in Manama, Dubai and Riyadh.

As well as being one of the earliest investors in Wahed, he is currently Chairman of the Audit Committee and Board Member at Bahrain Islamic Bank, the 4th oldest Islamic Bank in the World and Board Member at SICO Bank and SICO Capital in Saudi, an $8bn asset manager in the region.

Mohsin Siddiqui, Wahed CEO said, “We are delighted to announce Khalid’s appointment. His unique understanding of the financial landscape in the MENA region is unparalleled and we are excited to bring this expertise in continuing to grow our presence in the region.”

About Wahed

Founded in 2015, Wahed is a financial technology company that is advancing financial inclusion through accessible, affordable, and values-based investing. The company has made significant inroads in the world Shariah compliant investing by creating an easy-to-use digital platform that provides a suite of Shariah compliant investing products including managed portfolios and venture and real estate investments. Wahed caters to over 400,000 customers globally and manages over $ 1 billion in assets.

For more information, visit: www.wahed.com

Photo – https://mma.prnewswire.com/media/2566076/Wahed_MENA_Khalid_Al_Jassim.jpg

View original content:https://www.prnewswire.co.uk/news-releases/wahed-appoints-khalid-al-jassim-as-executive-chairman-of-wahed-mena-to-help-guide-the-strategic-growth-of-wahed-in-the-region-302314779.html

Continue Reading

Technology

“India Global Forum’s mission more relevant than ever,” says Finance Minister Nirmala Sitharaman ahead of IGF Middle East and Africa 2024

Published

on

By

India Global Forum’s flagship event in UAE kicks off in Dubai on 25 November with IGF ForumPolicymakers, politicians, business figures and celebrities from India, UAE, Africa to converge at inaugural session

DUBAI, UAE, Nov. 24, 2024 /PRNewswire/ — Ahead of India Global Forum’s (IGF) flagship Middle East & Africa 2024 (ME&A 2024) in Dubai on Monday, 25 November, Finance Minister Nirmala Sitharaman commended the role of the organisation in fostering global partnerships.

“Through their impactful and outcomes driven work, India Global Form has consistently provided a platform that fosters a better understanding of modern India and its vast opportunities for the global audience. It has also played an important role in building meaningful cross-border connections.

“India Global Forum’s mission to build corridors of technology, talent, investment and trust is more relevant than ever,” she said.

Under the theme of ‘Limitless Horizons’, IGF ME&A 2024 will foster new partnerships and collaborations between India, the Middle East, and Africa, unlocking opportunities in sectors such as technology, finance, sustainability and innovation.

The two-day event will begin with a special address by India’s Commerce Minister Piyush Goyal.

The inaugural session will also witness UAE’s Minister of State for Artificial Intelligence, Digital Economy, and Remote Work Applications, Omar al Olama, delve into the policies and reforms driving technological innovation in the UAE.

Looking forward to IGF ME&A, Indian Ambassador to the UAE, Sunjay Sudhir said: “The India-UAE relationship has entered an exciting new phase of exponential growth. We are at a moment in history where India-UAE relations are driving the synergy between our regions which has never been greater, and IGF serves as a beacon for harnessing this potential.”

Manoj Ladwa, Founder and Chairman, India Global Forum (IGF), said: “India’s External Affairs Minister, S. Jaishankar, aptly noted during his recent visit to Dubai that the India-UAE ties are in an era of new milestones. These ties are not just about trade figures or agreements – they represent a deeper alignment of values, aspirations, and shared visions for the future. IGF Middle East and Africa is an opportunity to channel this momentum into actionable outcomes that benefit not just our nations but the wider region.”

Featuring over 200 speakers and 1,000 participants across nine streams, IGF ME&A 2024 includes:

IGF Dialogues: An exclusive gathering of industry leaders and policymakers engaging in peer-to-peer roundtable discussions.IGF Forum: A Deep dive into how India, the Middle East, and Africa can embrace limitless horizons in a changing worldLeaders Dinner: An exclusive by-invite only dinner at the BAPS Hindu Mandir in Abu DhabiFounders and Funders Forum: Spotlighting the possibilities and pitfalls of the growing role of AI in India, the Middle East, and Africa.Climate and Business Forum (ClimB) – Exploring how businesses can achieve growth while prioritising sustainability and climate actionIGF Focus Forum – Discussions across diverse event streams, including leadership, entrepreneurship, healthcare, skilling and cultureDisruptors in the Desert – Demystifying emerging trends and technologies across key sectors poised to shape the next decade of the Global South. 

These engagements will tackle pressing global challenges, from climate change and energy transition to the future of AI and digital economies, bringing together a diverse lineup of global leaders, business pioneers, policymakers, and innovators.

Key Speakers across the event include:

H.E. Omar bin Sultan Al Olama, Minister of State for Artificial Intelligence, Digital Economy, and Remote Work ApplicationsH.E. Sunjay Sudhir, Ambassador of India to UAEMahesh Bhupathi, Indian Tennis LegendYusuf Tambawala, Vice President of Growth & Business Support, DP WorldLeander Paes, Indian Tennis LegendAbhimanyu Munjal, Managing Director and CEO, Hero FincorpHarsh Jain, Co-Founder, Dream11Monish Shah, Founder and CEO, DreamSetGoSanjay Nayyar, Founder and Chairman, Sorin AdvisorsAmnah Ajmal, Executive Vice President, Market Development, Eastern Europe, Middle East and Africa, MastercardNeeraj Makin, Senior Executive Vice President, Group Head – Strategy, Analytics & Venture Capital, Emirates NBDSiddharth Shah, Co-founder, PharmeasyFaizal Kottikollon, Chairman, KEF HoldingsRola Abu Manneh, CEO Middle East, Standard CharteredSiddharth Balachandran, Executive Chairman & CEO, Buimerc CorporationKuppulakshmi Krishnamoorthy, Global Head, Zoho for StartupsMina Liccione, Comedian, Dubomedy

About India Global Forum
India Global Forum tells the story of contemporary India. The pace of change and growth India has set itself is an opportunity for the world. IGF is the gateway for businesses and nations to help seize that opportunity.  To know more, click here

Social Media Handles & Hashtag to Follow
Twitter: @IGFUpdates & @manojladwa
LinkedIn: India Global Forum
#IGFUAE

Photo – https://mma.prnewswire.com/media/2566068/IGF_Finance_Minister.jpg
Logo – https://mma.prnewswire.com/media/2566069/IGF_Logo.jpg

View original content to download multimedia:https://www.prnewswire.com/in/news-releases/india-global-forums-mission-more-relevant-than-ever-says-finance-minister-nirmala-sitharaman-ahead-of-igf-middle-east-and-africa-2024-302314772.html

Continue Reading

Trending