The global satellite payload market is
expected to reach USD 21.8 billion by 2025, according to a new report by Grand
View Research, Inc. The market is expected to witness a CAGR of 7.9%over the
forecast period, owing to Increased government spending in space exploration
activities is expected to boost the market growth over the forecast
period.
The growing popularity of communication and
broadcasting services including pay TV and Over-The-Top (OTT) have led
providers to develop advanced payload systems. Moreover, the increased
penetration of payloads in the commercial sector is expected to propel the
market demand.
The market is expected to witness
significant growth as there has been a great rise in the ordering and
manufacturing of vast constellations of satellites for earth observation and
telecommunication. Incremental improvements in launch operations and vehicle
design are enabling a reduction in time for the manufacturing of payloads.
Moreover, the evolution of small satellites is leading to the production of
smaller payloads to reduce launch costs.
The need for geospatial tracking and
positioning in the commercial sector is expected to drive the demand for
satellite payloads over the forecast period. The emergence of high throughput
satellites has resulted in high data-rate satellite transmission capability,
which in turn is creating new opportunities for enhanced applications such as
military, navigation, and commercial.
Access Research Report of Satellite
Payloads Market@ http://www.grandviewresearch.com/industry-analysis/satellite-payloads-market
Further key findings from the report suggest:
· The remote sensing segment is expected to
grow at a CAGR of over 8.0% over the forecast period as it is expected to
emerge as a viable platform in the agriculture and mining sectors
· The Low Earth Orbit (LEO) segment is
expected to be the fastest-growing segment; this growth can be attributed to
its increased demand in earth observation and imaging applications
· The commercial segment is expected to grow
at the fastest CAGR of over 9% from 2017 to 2025. Growing advancements
including channelization, space-based inflatable reflector antenna, multi-beam
antenna, and internet routers are expected to propel the demand for commercial
satellite payloads.
· The Asia Pacific satellite payload market
is expected to account for a revenue share of over 30% by 2025, with the
increase in the number of satellite launches and government spending in space
research contributing to the regional demand
· The key players in the industry include Airbus
S.A.S., Harris Corporation, Lockheed Martin Corporation, Honeywell
International Inc., and The Boeing Company
Grand View Research has segmented the
satellite payload market by orbit, application, end-use, and region.
Satellite Payload Orbit Outlook (Revenue, USD
Billion; 2014 - 2025)
·
Low Earth Orbit (LEO)
·
Medium Earth Orbit (MEO)
·
Geostationary Earth Orbit (GEO)
Satellite Payload Application Outlook
(Revenue, USD Billion; 2014 - 2025)
·
Communication & Navigation
·
Remote Sensing
·
Surveillance
·
Others
Satellite Payload End-Use Outlook (Revenue, USD Billion; 2014 -
2025)
·
Civil
·
Military
·
Commercial
Satellite Payload Regional Outlook
(Revenue, USD Billion; 2014 - 2025)
·
North America
o
U.S.
o
Canada
·
Europe
o
UK
o
Germany
·
Asia Pacific
o
China
o
India
o
Japan
·
Latin America
o
Brazil
o
Mexico
·
Middle East & Africa
About Grand View Research
Grand View Research, Inc. is a
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides
syndicated research reports, customized research reports, and consulting
services. To help clients make informed business decisions, we offer market
intelligence studies ensuring relevant and fact-based research across a range
of industries, from technology to chemicals, materials and healthcare.
