Space Militarization Global Market Report 2024

The space militarization market size has grown strongly in recent years. It will grow from $50.18 billion in 2023 to $54.71 billion in 2024 at a compound annual growth rate (CAGR) of 9%. The historical growth can be attributed to the development of reusable space launch systems for military payloads, increasing concerns about space debris, a growing emphasis on space traffic management, the deployment of space-based missile defense systems, and a rising demand for space-based intelligence, surveillance, and reconnaissance (ISR).

The space militarization market size is expected to see strong growth in the next few years. It will grow to $73.52 billion in 2028 at a compound annual growth rate (CAGR) of 7.7%. The anticipated growth in the forecast period can be attributed to escalating competition among space-faring nations, the development of counter-space capabilities, a rising demand for space-based reconnaissance satellites, increased investment in space defense systems, and the expansion of commercial space-based security services. Key trends in the forecast period include the development of anti-satellite weapons, the integration of AI and machine learning in space defense, advancements in satellite imaging technology, a shift towards resilient space architectures, and the integration of autonomous systems in space defense.

The increasing emphasis on space traffic management is expected to drive the growth of the space militarization market in the future. Space traffic management involves coordinating and regulating space activities and objects to ensure safe and efficient operations in Earth's orbit. The growing number of satellites and space activities has raised concerns about orbital congestion and safety, leading to a heightened focus on space traffic management. Space militarization plays a role in this by facilitating worldwide operations, exercises, and logistics, as well as developing technologies and strategies to protect space assets and ensure secure and orderly operations in orbit. For example, according to the United Nations Office for Outer Space Affairs, countries had deployed a total of 6,718 active satellites into orbit around the planet as of January 2022, representing an increase of nearly 2,000 satellites from the previous year. Thus, the increased focus on space traffic management is fueling the growth of the space militarization market.

Major players in the space militarization market are working on advanced solutions, such as an open Earth Orbit (LEO) network of military satellites, to maximize profitability. An LEO network of military satellites refers to a system of satellites positioned in low-altitude Earth orbit, typically ranging from approximately 180 to 2,000 kilometers (112 to 1,242 miles) above the Earth's surface. For instance, in December 2023, Rocket Lab USA Inc., a US-based aerospace technology company, secured a $515 million contract to construct 18 satellites for a US government agency, believed to be the Space Development Agency (SDA). These satellites, part of the SDA's Proliferated Warfighter Space Architecture, will be part of the Transport Layer Tranche 2 Beta, consisting of communication satellites to enable beyond-line-of-sight connectivity for military forces on the ground. The satellites will carry radios using UHF and S-band frequencies relied upon by military and intelligence units for voice and low-speed data transmissions.

In September 2021, BAE Systems plc, a UK-based company specializing in defense, security, and aerospace, acquired In-Space Missions Ltd. for an undisclosed amount. This acquisition will allow BAE Systems to expand its capabilities in the space domain and offer innovative and cost-effective space militarization solutions to its customers. In-Space Missions Ltd. is a UK-based company with expertise in designing, building, and operating satellites, as well as providing space consultancy and mission services.

Major companies operating in the space militarization market are Raytheon Technologies Corporation, The Boeing Company, Lockheed Martin Corporation, Airbus SAS, General Dynamics Corporation, Northrop Grumman Corporation, Mitsubishi Heavy Industries Ltd., BAE Systems plc, L3Harris Technologies Inc., Leonardo S.p.A., Thales SA, Rheinmetall AG, Serco Group Plc, Teledyne Technologies Inc., Israel Aerospace Industries Ltd., Saab AB, Space Exploration Technologies Corp., Aerojet Rocketdyne Holdings Inc., SES SA, QinetiQ Group plc, Aselsan A.S., Orbital ATK, Maxar Technologies Inc., Kratos Defense & Security Solutions Inc., Ball Aerospace & Technologies Corp., Cobham plc.

North America was the largest region in the space militarization market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the space militarization market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the space militarization market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Space militarization involves the development and deployment of military capabilities and assets in outer space for strategic purposes, encompassing surveillance, communication, navigation, and potential offensive actions. These capabilities are utilized for espionage, troop communication, and, when necessary, hostile engagements.

The primary types of space militarization include manned spacecraft and unmanned spacecraft. Manned spacecraft are vehicles designed to transport astronauts or cosmonauts into space for missions such as research, exploration, or assembly and maintenance of space stations. The various capabilities encompass defense and support, incorporating multiple solutions such as space-based equipment, satellites, ground-based equipment, logistics, and services.

The space militarization market research report is one of a series of new reports that provides space militarization market statistics, including space militarization industry global market size, regional shares, competitors with space militarization market share, detailed space militarization market segments, market trends, and opportunities, and any further data you may need to thrive in the space militarization industry. This space militarization market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The space militarization market consists of revenues earned by entities by providing services such as space domain monitoring, system integration and installation services, maintenance and support, and maintaining space exploration infrastructure. The market value includes the value of related goods sold by the service provider or included within the service offering. The space militarization market also includes sales of specialized spacecraft, weapons systems, sensors, and replacement hardware components. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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