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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

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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..

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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. 

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 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.

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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.

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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/

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Max Stock Limited Announces Change in Shares Held by an Interested Party

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CAESAREA, Israel, Nov. 24, 2024 /PRNewswire/ — Max Stock Limited (TASE: MAXO(; )the “Company”, “Max Stock“) today announced that on November 20th, 2024, Phoenix Financial Ltd. and Phoenix Investment House Ltd. (“Phoenix reporting group”), including their respective nostro account, provident funds and provident fund management companies, as well as mutual fund management companies and market maker sub entities, informed the Company that they had sold shares of the Company thereby lowering their joint holdings to 4.8% of the Company’s issued capital (4.15% and 0.65% respectively). As a result, Phoenix reporting group will no longer be an interested party in the Company.

This is an English translation of segments of a Hebrew immediate report that was published on November 24, 2024 (Ref. No: 2024-01-618032) (hereinafter: the “Hebrew Version”). This English version is only for convenience purposes. This is not an official translation and has no binding force. In the event of any discrepancy between the Hebrew Version and this translation, the Hebrew Version shall prevail.

About Max Stock

Max Stock is Israel’s leading extreme value retailer, currently present in 64 locations throughout Israel and 2 locations in Portugal. We offer a broad assortment of quality products for customers’ everyday needs at affordable prices, helping customers “Dream Big, Pay Small”. For more information, please visit https://ir.maxstock.co.il                 

Company Contacts:

Talia Sessler,
Chief Corporate Development and IR Officer
talia@maxstock.co.il

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SOURCE Max Stock Limited

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

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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

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

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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

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