Global military satellite market projected to hit $9.7B

The global military satellite market will reach $9.7 billion by 2025, according to a forecast by market research firm Strategic Defense Intelligence. That represents a more than 70 percent increase over today's $5.7 billion market.

ISR satellites will account for 36 percent of the market, followed by communications and then navigational satellites. "Many existing ISR satellites are about to reach the end of their operational life cycle, meaning that leading defense spenders need to replace these satellites in the next five to ten years," said analyst Bharathi Bajaj. "Moreover, satellites are an alternative to expensive UAVs or reconnaissance aircraft, which is also driving growth,"

The U.S. will account for 41 percent of global market share.

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