Abu Dhabi: The market for Global Military Satellite Communications (Milsatcom) applications will grow by a compound annual growth rate of 2.5 per cent. The market was estimated at $3.05 billion (Dh11.19 billion) in 2013 and is expected to reach $3.82 billion by 2022, officials and industry executives said at the fourth Annual Milsatcom Middle East conference on Tuesday.
Major growth will be seen in the fixed satellite communications segment — about 33 per cent in the coming decade.
The Middle East and Asia Pacific satellite communications market is forecast to grow significantly in the next 10 years as force modernisation trends are in full flow in these markets. Industry consolidation among suppliers and collaborative efforts from defence forces will result in “pooling and sharing” of resources, especially in the European market.
The speakers at the conference highlighted the benefits of developing satellite communications for national security and commercial purposes. Industry leaders from across the globe analysed the challenges that the industry faces in terms of capability constraints, budget revisions and a trained workforce.
The conference programme features a dedicated Military Space Symposium on Thursday, which will focus on space-based defence and security technologies. The symposium will discuss the need to employ space technology in managing efficient defence operations in times of peace, war and natural disasters.
