Market for military satellites to expand by 3.74 percent in coming decade

The global military satellite market is expected to experience a growth of 3.74% during 2014-2024, according to a market research report newly0available at MarketReportsStore.com.

The communication satellites segment is expected to dominate the military satellite market with a share of 51.6%.

The Latin American market is expected to show a slight decline. The militaries are increasingly depending on commercial satellite service providers for their additional bandwidth needs, explains a news release issued by the MarketReportsStore Web site.

Complete report, which is titled Global Military Satellite Market 2014-2024 is available by clicking here.

The Global Military Satellite Market 2014-2024 report offers detailed analysis of the global military satellite market with market size forecasts covering the next 10 years. The report will also analyze factors that influence demand for military satellites, key market trends and challenges faced by industry participants.

The regional analysis of this market says North America dominates the global military satellite market and demand for communication satellite in the U.S. to support the global military satellite market growth. The military satellite market in Europe is expected to grow at a CAGR of 4.49%, whereas Asia-Pacific region is set to account for 14.8% share of military satellite market over the forecast period, says the news release.

Expenditures on the ISR segment are expected to lead the military satellites market in the Middle East, Brazil is expected to be the highest spender in the military satellite sector in Latin America, and markets in Africa expected to increase over the forecast period.