LONDON – The global satellite attitude and orbit control system market is expected to post a CAGR of nearly 4% during the period 2018-2022, according to the latest market research report by Technavio.
A key factor driving the growth of the market is increased demand for multi-role satellites. The nature of battles has changed from month-long wars to expeditionary battles spanning a few days. For various military requirements, including communication, the military and defense forces around the globe require space capability to meet the demand for more operationally responsive forces. Nano and microsatellites can provide high visibility against the tactical enemy operations. Rapid access to near-real-time information and imagery can be helpful for aerial reconnaissance augmentation process.
This market research report on the global satellite attitude and orbit control system (AOCS) market 2018-2022 also provides an analysis of the most important trends expected to impact the market outlook during the forecast period. Technavio classifies an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.
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In this report, Technavio highlights the rise of satellite-aided warfare as one of the key emerging trends in the global satellite attitude and orbit control system market:
Global satellite attitude and orbit control system market: Rise in satellite-aided warfare
Space exploration has been a diversified sector of the international community. As per the Outer Space Treaty of 1967, it has been defined as the province of mankind and is not subject to national boundaries. Satellite use has been an integral part of the global economy and is instrumental in providing communications, weather services, mapping, precision timing, and navigation services for shipping, secure cross-border banking, and internet connectivity.
“Satellites have profound applications in the military segment ranging from intelligence acquisition, global communication, to nuclear threat deterrence. The initial generation of military satellites was limited to acquiring data and adhering to the bilateral arms control agreement, while the present generation is capable of initiating and supporting offensive military strategies at the warfront,” says a senior analyst at Technavio for research on space.
Global satellite attitude and orbit control system market: Segmentation analysis
This market research report segments the global satellite attitude and orbit control system market by application (conventional satellites and small and micro satellites) and geographical regions (APAC, EMEA, and the Americas).
The conventional satellites segment held the largest market share in 2017, accounting for nearly 62% of the market. This application segment is expected to dominate the global market throughout the forecast period.
The Americas led the market in 2017 with a market share of nearly 58%. This region is expected to dominate the market through 2022, however, there will be a decrease in its market share.
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Five Forces Analysis
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