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The Global Military Satellites Market 2012-2022

3.5 Defense Budget Spending Review

3.5.1 European capital expenditure expected to increase during the forecast period

3.5.2 Asian defense budgets expected to increase at a robust pace

3.5.3 North American defense expenditure projected to decline marginally during the forecast period

3.5.4 Modernization programs likely to drive defense expenditure in South American countries

3.5.5 Military budgets of African countries expected to increase during the forecast period

3.5.6 Defense budgets of Middle Eastern countries likely to increase during the forecast period

3.6 Defense Modernization Review

3.6.1 Financial constraints causing delays in European defense modernization programs

3.6.2 Defense budgets of Asian countries likely to be driven by competitive arms acquisitions

3.6.3 Global economic slowdown leading to defense budget cuts in the North American region

3.6.4 Need to replace aging equipment driving South American defense expenditure

3.6.5 Security threats increasing the defense budget of African countries

3.6.6 Demand for air defense systems is likely to increase in the Middle East

4 Industry Trends, Recent Developments and Challenges

4.1 Technological Developments

4.1.1 Self Awareness Space Situational Awareness System (SASSA)

4.1.2 DARPA's Space Enabled Effects for Military Engagements

4.1.3 Membrane Optic Imager Real Time Exploitation (MOIRE)

4.2 Market Trends

4.2.1 Shift towards smaller and cheaper systems

4.2.2 Increasing adoption of commercial satellite communication systems by government and military users

4.2.3 Increasing number of public private partnerships expected to take place in the future

4.3 Industry Consolidation

4.3.1 Joint ventures expected to increase over the forecast period

4.3.2 Private financing to be mutually beneficial for the government and private sector

4.4 Key Challenges

4.4.1 Military satellites market growth suffers from budgetary challenges

4.4.2 Satellite manufacturers experiencing decline in profit margins

5 SWOT Analysis of the Military Satellite Market

5.2 Strengths

5.2.1 Rapidly increasing need for space based solutions for communication, ISR and navigation

5.2.2 Public Private Partnership approach supporting military satellite expenditure

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