Empowering Global Connectivity: Satellite Payload Market Takes Off with Next-Generation Technologies and Services

Advertisement

The global satellite payload market covered major segments By Payload Type (Communication, Imaging, Navigation, and Others), By Vehicle Type (Small and Medium-to-heavy), By Orbit (GEO, LEO, and MEO), By Application (Weather Monitoring, Telecommunication, Scientific Research, Surveillance, and Others), By End-Use (Commercial and Military), and Regional.

Pune, India, April 25, 2023 (GLOBE NEWSWIRE) — The global satellite payload market size was USD 13.32 billion in 2020 and is projected to grow from USD 14.45 billion in 2021 to USD 27.58 billion in 2028 at a CAGR of 9.67% during the 2021-2028 period.

A satellite payload refers to the equipment or instruments that are carried on board a satellite to perform specific functions or tasks. These payloads can include cameras, sensors, communication devices, scientific instruments, and other hardware that are designed to carry out various activities in space. The selection and design of a satellite payload depend on the mission objectives and requirements. Payloads can be operated independently or in combination with other payloads, and they are critical to the success of any space mission. It is essential to ensure that satellite payloads are designed and tested to operate efficiently in the harsh space environment and that they are not only reliable but also meet the necessary performance standards. Furthermore, it is important to ensure that the data and information collected by the payloads are transmitted securely and accurately to the ground station. Thus, the design and development of satellite payloads require careful planning and execution to ensure a successful mission.

Advertisement

Get a Free Sample Research Report:

https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/satellite-payload-market-101829

List of Key Players Profiled in the Satellite Payload Market Report:

  • Lockheed Martin Corporation (U.S.)
  • Honeywell International Inc. (U.S.)
  • The Boeing Company (U.S.)
  • Thales S.A. (France)
  • Raytheon Technologies (U.S.)
  • Airbus Defence and Space (Germany)
  • L3 Harris Corporation (U.S.)
  • Mitsubishi Electric Corporation (Japan)
  • ISRO (India)
  • General Dynamics Mission Systems, Inc. (U.S.)
  • Space Exploration Technologies Corporation (U.S.)
  • MDA Corporation (U.K.)
  • Northrop Grumman Corporation (U.S.)

Report Scope & Segmentation:

Report Coverage Details
Forecast Period 2021-2028
Forecast CAGR 9.67%
2028 Value Projection USD 27.58 Billion
Market Size in 2021 USD 14.45 Billion
Historical Data 2017-2019
No. of Pages 150
Report Coverage Revenue Forecast, Company Profiles, Competitive Landscape, Growth Factors and Latest Trends
Segments Covered
  • By Payload Type Analysis
  • By Vehicle Type Analysis
  • By Orbit Analysis
  • By Application Analysis
  • By End-User Analysis
Regions Covered
  • North America
  • Europe
  • Asia Pacific
  • South America
  • Middle East and Africa
Satellite Payload Market Growth Drivers Rising Adoption of Hosted Payloads to Propel Market Growth
Growing Demand for Small Satellites for Communication Purposes to Fuel Market

Browse Detailed Summary of Research Report with TOC:

https://www.fortunebusinessinsights.com/industry-reports/satellite-payload-market-101829

Segmentation

Payload, Vehicle Type, Orbit, Application, End-user, and Region are studied for the Market

On the basis of payload, the market is classified into communication, imaging, navigation, and others.

In terms of vehicle type, the market is classified into small and medium-to-heavy.

By orbit, the market is segregated into Geostationary Equatorial Orbit (GEO), Low Earth Orbit (LEO), and Medium Earth orbit (MEO). The GEO segment is estimated to be the fastest-growing segment through the forecast period.

In terms of application, the market is categorized into weather monitoring, telecommunication, scientific research, surveillance, and others.

On the basis of end-user, the market is branched into commercial and military.

Geographically, the market is segregated into North America, Europe, Asia Pacific, and the rest of the world.

Report Coverage

The report offers a detailed study of the market and a keen examination of the major segments of the market. It provides an in-depth analysis of key players and their insightful strategies to spur the market growth for monetary gains. It also shares tangible insights which guide business owners with their investment perspective.

The regional dynamics and how they shape the market in an upward curve are presented in the following report. Moreover, COVID-19 impacts have been added for additional information and how it is anticipated to affect the demand for the payload in the coming future.

Get a Quote Now:

https://www.fortunebusinessinsights.com/enquiry/get-a-quote/satellite-payload-market-101829

Drivers and Restraints

Increasing Implementation of Presented Payloads to Impel Market Growth

A hosted satellite payload is a module that employs obtainable capability on commercial satellites to position supplementary space-bound gadgets that function exclusively of the chief spacecraft but share the power supply and transponders.

Moreover, government organizations position instruments and other equipment into space by utilizing hosted payloads on commercial spacecraft that are currently programmed for launch to save expenses. This is expected to bolster the satellite payload market growth during the forecast period.

Regional Insights

North America held the majority of the satellite payload market share and was worth USD 6.05 billion in the fiscal year 2020 owing to augmented government expending on space technologies.

Asia Pacific is estimated to observe considerable growth in the market as the increasing investments in earth observation and telecommunication satellites in China as well as India are anticipated to aid in product demand.

Europe is predicted to perceive considerable growth in the market during the forecast period owing to a rise in the regional space industry and amplified commercialization of space.

Competitive Landscape

Attainments Originated by Vital Companies to Sustain Market Growth

The dominating players in the market incessantly determine to apply effective approaches in order to thrust their brand value as well as endorse the global market growth of the product with encountering least possible restrictions. One such proficient strategy is procuring competitive companies and further safeguarding a profit for both the involved companies.

Ask for Customization:

https://www.fortunebusinessinsights.com/enquiry/ask-for-customization/satellite-payload-market-101829

Detailed Table of Content:

  • Introduction
    • Research Scope
    • Market Segmentation
    • Research Methodology
    • Definitions and Assumptions
  • Executive Summary
  • Market Dynamics
    • Market Drivers
    • Market Restraints
    • Market Opportunities
    • Emerging Trends
  • Key Insights
    • Overview of the Parent/Related Markets
    • Industry SWOT Analysis
    • Regulatory Analysis
    • Recent Industry Developments – Policies, Partnerships, New Product Launches, and Mergers & Acquisitions
  • Quantitative Insights-Impact of COVID-19 Pandemic on Global Satellite Payload Market
    • Impact of COVIC-19 Pandemic on the Global Satellite Payload Market
    • Steps Taken by the Industry/Companies/Government to Overcome the Impact
    • Key Development in the Industry in Response to COVID-19 Impact
  • Global Satellite Payload Market Analysis, Insights and Forecast, 2017-2028
    • Segment Definitions
    • Market Size Estimates and Forecast – By Payload Type
      • Communication
      • Imaging
      • Navigation
      • Others

TOC Continued…!

Speak to Our Expert:

https://www.fortunebusinessinsights.com/enquiry/speak-to-analyst/satellite-payload-market-101829

Key Industry Development

May 2021: Northrop Grumman Corporation was sanctioned a sustained agreement worth USD 13.3 million by the Defense Advanced Research Projects Agency (DARPA) to endure to create and form a PNT payload for the Blackjack constellation.

Read Related Insights:

Space Launch Services Market to Worth USD 38.34 Billion by 2029 | Growing Space Programs to Enhance Industry Progress, Exclusive Report by Fortune Business Insights™

Small Satellite Market Size to Hit USD 12.02 Billion by 2029 | Small Satellite Industry CAGR 11.53%

Satellite Communication (SATCOM) Market to Hit USD 56.74 Billion by 2029 | with Emerging CAGR of 9.54%

About Us:

Fortune Business Insights™ delivers accurate data and innovative corporate analysis, helping organizations of all sizes make appropriate decisions. We tailor novel solutions for our clients, assisting them to address various challenges distinct to their businesses. Our aim is to empower them with holistic market intelligence, providing a granular overview of the market they are operating in.

Address:

Fortune Business Insights Pvt. Ltd.

9th Floor, Icon Tower, Baner,

Mahalunge Road, Baner, Pune – 411045,

Maharashtra, India.

Phone:

US: +1 424 253 0390

UK: +44 2071 939123

APAC: +91 744 740 1245

Email[email protected]

Follow Us: LinkedInFacebook | Twitter

Disclaimer: The above press release comes to you under an arrangement with GlobeNewswire. AfternoonHeadlines.com takes no editorial responsibility for the same.