The global satellitepayload 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.
Full
Research Report On satellite payload market Analysis:
www.grandviewresearch.com/industry-analysis/satellite-payloads-market
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
Browse More Reports Of This Category By
Grand View Research At: www.grandviewresearch.com/industry/communication-services
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
Access Full Press Release of this Report: www.grandviewresearch.com/press-release/global-satellite-payloads-market
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.
For more information: www.grandviewresearch.com/
