Counterspace Security Market: Segmented: By Product Type (Non-Kinetic Physical Systems, Space-Based Electronic Warfare Systems, Space Situational Awareness Systems, Cybersecurity System), By Deployment Model (LEO, MEO, GEO, Ground-Based), By Application (Commercial, Military), And Region - Global Analysis of Market Size, Share & Trends For 2019-2021 And Forecasts To 2031
[ 170 + Pages Research Report ] Counterspace Security Market to surpass USD 16.3 billion by 2031 from USD 6 billion in 2021 at a CAGR of 10.5% in the coming years, i.e., 2021-2031.
The set of capabilities or strategies used to gain space dominance is known as counter space, sometimes known as space control. The ability to use space for one's own purposes while denying it to an adversary is known as space dominance. These challenges are especially critical now, in an era of rapidly expanding state activities in space and a high reliance on space. Although the satellite is only one aspect of the system that can be attacked, anti-satellite weapons (ASAT) are a subset of offensive counterspace capabilities.
Global Counterspace Security Market is expected to project a notable CAGR of 10.5% in 2031.
Some of the primary drivers driving the growth of the counter-space security market are an increased focus on satellite communication (SATCOM) security, centralized and diverse counter-space security capabilities through targeted organizations, and reliance on unhindered space operations. Furthermore, the market is expected to rise due to the utilization of ballistic missile capability to build counter-space security weapons.
The Military segment is expected to grow with the highest CAGR during 2021-31
Global Counterspace Security Market is classified on the basis of application in Commercial and Military. According to the application, the military segment will experience profitable growth during the projected period, as military doctrines imply that space is crucial to modern combat, and counter-space capabilities are viewed as a means of reducing and allied military efficacy.
The Growing Number of Space Assets that are Threat to the Space
The worldwide counter space security industry is gaining traction as a result of the increasing quantity of space assets, which makes them highly vulnerable to attacks that could damage, destroy, or degrade them, posing a threat to the space domain as well as military and commercial operations. The market's growth can be attributed to the expansion of space assets. Furthermore, several countries are developing technology and initiating programs to compete with the United States' sophisticated space systems and services.
Declining Prices of High-Quality Offensive Solutions
There are a number of major factors driving the growth of the counter space security industry, including increased demand for security as the cost of high-quality offensive solutions falls. In the previous ten years, the number of satellites used for navigation, imaging, reconnaissance, and remote sensing, among other things, has doubled, leading to a greater reliance on satellites for clinical and basic operations.
Imminent Threat posed by Space Debris to the Space
One of the primary challenges impeding the growth of the Counterspace Security Market is space debris, which poses an immediate threat to the space domain.
Global Counterspace Security Market is segmented based on regional analysis into five major regions: North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. Due to the largest number of counter-space security efforts and investment plans, North America is expected to hold a significant market position in the worldwide counter-space security market by 2020. The country is home to the world's largest counter space security technology manufacturers and service providers.
The global COVID-19 epidemic has, without a doubt, caused economic disruptions and has harmed numerous sectors around the world. The first and most visible casualty of the broad COVID outbreak is a considerable delay in the parachute system, which has caused numerous satellite companies to miss their launch windows.
Global Counterspace Security Market is further segmented by region into:
Counterspace Security Market Segments:
|Market size value in 2021
|USD 6 billion
|Revenue forecast in 2031
|USD 16.3 billion
|CAGR of 10.5% from 2021 to 2031
|Base year for estimation
|Revenue in USD million and CAGR from 2021 to 2031
|Revenue forecast, company ranking, competitive landscape, growth factors, and trends
|Product Type, Deployment Model, Application, and Region
|North America, Europe, Asia Pacific, Latin America, Middle East & Africa (MEA)
|Key companies profiled
|BAE System, Lockheed Martin Corporation., Raytheon Company, Collins Aerospace, L3Harris Technologies., Rafael Advanced Defense Systems Ltd, Leonardo S.p.A., Northrop Grumman Corporation, General Dynamics Mission Systems, Inc., Elbit Systems Ltd., Thales Group, Israel Aerospace Industries Ltd., and Other Prominent Players.
Counterspace Security Market size was estimated at USD 6 billion in 2021 and is expected to reach USD 16.3 billion in 2031.
The set of capabilities or strategies used to gain space dominance is known as counterspace, sometimes known as space control.
The Military segment accounted for the largest Counterspace Security Market share.
Key players in the Counterspace Security Market include BAE System, Lockheed Martin Corporation., Raytheon Company, Collins Aerospace, L3Harris Technologies., Rafael Advanced Defense Systems Ltd, Leonardo S.p.A., Northrop Grumman Corporation, General Dynamics Mission Systems, Inc., Elbit Systems Ltd., Thales Group, Israel Aerospace Industries Ltd., and Other Prominent Players.
The worldwide counterspace security industry is gaining traction as a result of the increasing quantity of space assets, which makes them highly vulnerable to attacks that could damage, destroy, or degrade them, posing a threat to the space domain as well as military and commercial operations.
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