ID: MRFR/A&D/8842-HCR | February 2023 | Region: Global | 173 Pages
Satellite Payloads Market is projected to reach USD 25.05 Billion by 2030 at an 8.7% CAGR from 2020 to 2030
$25.05 Billion
8.7%
North America
2020 -2030
Satellites are widely used for remote sensing, scientific research, surveillance, and navigation to gather data and transmit it to the ground receiver. These require various payloads such as cameras, thermal infrared imaging spectrometer, photometer, and transponder, which collect and transmit images or other data to the operating center.
Market Synopsis
Satellite Payloads Market has witnessed high growth in recent years owing to the increasing number of private firms in the space industry and increasing defense expenditure. Moreover, the increasing demand for small satellites for earth observation is further driving the growth of the market. However, satellite launch failures and high development costs are expected to hinder market growth to some extent.
Market USP
Rising use of IoT in industries requiring satellite payloads.
Satellite Payloads Market Drivers
Market Restraints
Segmentation
By Orbit Type
By Application
By Region
Satellite Payloads Market Key Players
Report Attribute/Metric | Details |
---|---|
Market Size | USD 25.05 Billion |
CAGR | 8.7% (2020-2030) |
Base Year | 2019 |
Forecast Period | 2020-2030 |
Historical Data | 2018 |
Forecast Units | Value (USD Million) |
Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
Segments Covered | Payload Type, Orbit Type, Size and Application |
Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
Key Vendors | Airbus SAS (Netherlands), BAE Systems plc (UK), Lockheed Martin Corporation (US), Northrop Grumman Corporation (US), Raytheon Technologies Corporation (US), Honeywell International Inc. (US), L3 Harris Technologies (US), Thales Group (France), The Boeing Company (US), Viasat, Inc. (US) and Space Exploration Technologies Corporation (US) |
Key Market Opportunities | Rising use of IoT in industries requiring satellite payloads. |
Key Market Drivers |
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Satellite payloads market can rise at 8.7% CAGR by 2026.
By 2025, the satellite payloads market value can be about USD 25.05 Billion.
Northrop Grumman Corporation (US), Lockheed Martin Corporation (US), and Raytheon Technologies Corporation (US) are some well-established satellite payloads market players.
The surge in defense expenses to favor satellite payloads market.
EU flight entertainment market to thrive in near future.