Industry status

Satellite Payload Market Segments, Industry Status, Overview,

Satellite payload market

According to IMARC Group’s latest report titled “Satellite Payload Market: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2022-2027”, offers a comprehensive analysis of the industry, which includes satellite payload market information. The report also includes competitor and regional analysis, as well as contemporary advancements in the global market. The market reached a value of US$15.67 billion in 2021. The global satellite payload market will reach US$22.54 billion by 2027, growing at a CAGR of 6.3% in 2022- 2027.

Satellite payloads are essential operational components of the satellite assembly that provide various functionality, including communication capabilities while the satellite is in orbit. The satellite bus carries subsystems and payloads, while the payload performs specific functions, such as imaging, remote sensing, navigation, space exploration, and in-orbit communication. It includes many pieces of equipment, such as repeaters, spectrometers, transponders, antennas and cameras. Remote sensing and Earth observation require radars, cameras and sensing equipment to collect relevant data and images. This data obtained is then transferred to the receiver on the ground for further processing.

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As the novel coronavirus (COVID-19) crisis engulfs the world, we are continuously monitoring changes in markets, as well as consumer buying behaviors around the world and our estimates on the latest market trends and forecasts are made after taking into account the impact of this pandemic.

Market trends:

The global market is mainly driven by the significant growth of the aerospace sector. This is supported by the growing demand for Low Earth Orbit (LEO) imaging and Earth observation payloads. Along with this, the increasing adoption of small satellites for telecommunications, earth observation and imagery is significantly supporting the global market. Additionally, small satellites are gaining popularity in defense and intelligence, government and commercial organizations to launch a low cost and efficient payload. This further stimulates the growth of the market. Additionally, the increasing deployment of SDR payload technology in space missions is creating a positive market outlook. Some of the other factors driving the market include increasing investment by several governments in space technology and growing use of hosted payloads.

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Competitive landscape with key players:

The report has also analyzed the competitive landscape of the market with some of the key players.
• Airbus SE
• Gomspace A/S
• Honeywell International Inc.
• L3harris Technologies Inc.
• Lockheed Martin Corporation
• Maxar Technologies Inc.
• Mitsubishi Electric Corporation
• Northrop Grumman Corporation
• Sierra Nevada Company
• Thales Group
• The aerospace company
• The Boeing Company

Satellite Payload Market Segmentation:

Our report has categorized the market based on region, type, orbit, frequency band, application, and end-use industry.

Breakdown by type:
• Mini-satellite
• Micro-satellite
• Nano-satellite
• Others

Distribution by orbit:
• Low Earth Orbit (LEO)
• Mean Earth Orbit (MEO)
• Geostationary Earth Orbit (GEO)
• Beyond geosynchronous orbit

Breakdown by frequency band:
• C-band, K/KU/KA
• S and L band
• Band X
• VHF and UHF band
• Others

Breakdown by application:
• Earth observation and remote sensing
• Satellite communications
• Science and exploration
• Cartography and navigation
• Space observation
• Others

Breakdown by end user:
• Commercial
• Academic
• Government and military
• Others

Breakdown by region:
• North America (United States, Canada)
• Europe (Germany, France, United Kingdom, Italy, Spain, Others)
• Asia-Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
• Latin America (Brazil, Mexico, others)
• Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, others)

Main highlights of the report:
• Market performance (2016-2021)
• Market Outlook (2022-2027)
• Porter’s five forces analysis
• Market drivers and success factors
• SWOT analysis
• Value chain
• Complete mapping of the competitive landscape

We update our reports, if you want the latest primary and secondary data (2022-2027) with cost module, business strategy, competitive landscape, etc. Click request a free sample report, the report will be delivered to you in PDF format via email within 24-48 hours after payment confirmation.

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