Major players in the counterspace security market are BAE Systems plc, Lockheed Martin Corporation, Raytheon Company, Collins Aerospace, L3Harris Technologies, Rafael Advanced Defense Systems Ltd., Leonardo S.
New York, Aug. 25, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Counterspace Security Global Market Report 2023" - https://www.reportlinker.com/p06486631/?utm_source=GNW
p.A., Northrop Grumman Corporation, General Dynamics Mission Systems, Inc., Elbit Systems Ltd., Thales Group, Israel Aerospace Industries Ltd., Saic Inc., The Boeing Company, and Leidos.
The global counterspace security market is expected to grow from $5.86 billion in 2022 to $6.55 billion in 2023 at a compound annual growth rate (CAGR) of 11.7%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The counterspace security market is expected to reach $9.89 billion in 2027 at a CAGR of 10.9%.
The counterspace security market consists of revenues earned by entities by providing services such as space situational awareness, cybersecurity solutions, jamming and spoofing detection, secure satellite communication, space debris tracking, surveillance satellites, and anti-satellite (ASAT) systems.The market value includes the value of related goods sold by the service provider or included within the service offering.
The counterspace security market also includes sales of counterspace weapons such as lasers, high-powered microwaves (HPM), and electromagnetic pulse which are used in providing counterspace security services.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
Counterspace security refers to the protection of space-based assets, infrastructure, and activities from threats posed by adversarial actors. It involves safeguarding satellites, space systems, ground stations, and communication networks from various forms of interference, disruption, or attack.
North America was the largest region in the counterspace security market in 2022. The regions covered in counterspace security report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of products in counterspace security include co-orbital systems, non-kinetic physical systems, space-based electronic warfare systems, space situational awareness, and cybersecurity.Co-orbital systems refer to satellites or spacecraft that share the same orbit as another satellite or spacecraft.
They are deployed in low earth orbit (LEO), medium earth orbit (MEO), geosynchronous equatorial orbit (GEO), and ground-based for applications in commercial and military purposes.
The rising demand for satellite-based services is expected to propel the growth of counterspace security going forward.Satellite-based services refer to various applications and services that rely on satellites for communication, data transmission, navigation, remote sensing, and more.
These services utilize satellites positioned in orbit around the Earth to provide coverage and connectivity to a wide range of applications and users.The increased reliance on satellites for critical infrastructure and services makes them attractive targets for malicious actors, necessitating robust security measures.
For instance, in October 2022, according to an article issued by the Ministry Of Justice, a UK-based government department, Electronic Monitoring Statistics Publication, England and Wales: September 2022, In the United Kingdom, the number of people actively tracked by a GPS position monitoring device climbed 143% from 2,161 in September 2021 to 5,243 in September 2022. Therefore, the rising demand for satellite-based services is driving the growth of the counterspace security market.
Next-generation product development is a key trend gaining popularity in the counterspace security market.Companies operating in the counterspace security market are developing innovative products to sustain their position in the market.
For instance, in April 2023, CYSEC, a Switzerland-based data security company, launched ARCA SATCOM for securing internet communications over satellite.ARCA SATCOM is a groundbreaking Performance-Enhancing Proxy (PEP) that combines encryption and authentication.
It significantly improves performance and security compared to standard VPNs.It achieves a two-fold increase in link throughput, reduces round-trips and acknowledgment messages, and supports multi-orbit deployment.
ARCA SATCOM ensures comprehensive security by protecting data and metadata, utilizing FIPS-certified hardware for key management. It offers end-to-end encryption based on TLS 1.3 and AES-GCM, safeguards against eavesdropping attacks, and seamlessly integrates with existing terminals and gateways. ARCA SATCOM also provides enhanced performance, data protection, and compatibility, surpassing the capabilities of state-of-the-art virtual private networks (VPNs).
In November 2020, Jacobs Solutions, a US-based engineering services company, acquired The Buffalo Group for an undisclosed amount.The acquisition aims to enhance Jacobs’ portfolio of government solutions in the cyber domain and the Intelligence Community (IC).
Moreover, Jacobs’ array of national priority solutions for integrated multi-domain environments is further strengthened by The Buffalo Group’s superior cyber and intelligence capabilities. The Buffalo Group is a US-based company specializing in advanced cyber and intelligence solutions operating in the counterspace security market.
The countries covered in the counterspace security market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The counterspace security market research report is one of a series of new reports that provides counterspace security market statistics, including counterspace security industry global market size, regional shares, competitors with a counterspace security market share, detailed counterspace security market segments, market trends and opportunities, and any further data you may need to thrive in the counterspace security industry. This counterspace security market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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