The global Satellite Payloads Market size 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.
Related Press Release@
http://www.grandviewresearch.com/industry-analysis/satellite-payloads-market
Satellite Payload Market Report Highlights
- 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 payloads 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
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Satellite Payloads Market Segmentation
Grand View Research has segmented the satellite
payloads market by orbit, application, end-use, and region.
Satellite Payloads Orbit Outlook (Revenue, USD
Billion; 2014 - 2025)
- Low Earth Orbit (LEO)
- Medium Earth Orbit (MEO)
- Geostationary Earth Orbit (GEO)
Satellite Payloads Application Outlook (Revenue, USD
Billion; 2014 - 2025)
- Communication & Navigation
- Remote Sensing
- Surveillance
- Others
Satellite Payloads End-Use Outlook (Revenue, USD Billion; 2014 - 2025)
- Civil
- Military
- Commercial
Satellite Payloads Regional Outlook (Revenue, USD Billion;
2014 - 2025)
- North America
- The U.S.
- Canada
- Europe
- The U.K.
- Germany
- Asia Pacific
- China
- India
- Japan
- Latin America
- Brazil
- Mexico
- Middle East & Africa
About Us:
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, the
company offers market intelligence studies ensuring relevant and fact-based
research across a range of industries including technology, chemicals,
materials, healthcare and energy.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
Phone: 1-415- 349-0058
Toll Free: 1-888- 202-9519
Email: sales@grandviewresearch.com
For More Information: https://www.grandviewresearch.com
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