Satellite Payloads Market Research Report - Global Forecast till 2027

Global Satellite Payloads Market Research Report: Information By Payload Type (Communication Payload, Navigation Payload, Imaging Payload and Others), Orbit Type (Low Earth Orbit, Medium Earth Orbit and Geosynchronous Orbit), Size (Small Satellite and Medium to Heavy Satellite), Application (Telecommunication, Remote Sensing, Scientific Research, Surveillance and Navigation) and Region (North America, Europe, Asia-Pacific, Middle East & Africa and Latin America) - Forecast till 2027

ID: MRFR/A&D/8842-HCR | February 2021 | Region: Global | 173 pages

Please note that the assessment period of report has been updated from 2018–2026 to 2020-2027. Cordially fill the sample form for updated data.

Market Scenario


Global Satellite Payloads Market is projected to reach USD 25.05 Billion by 2026 at an 8.7% CAGR from 2019 to 2026. 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


Global 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.


Market Drivers



  • Increasing Demand for Small Satellites for Earth Observation: An earth observation satellite is used for non-military applications such as environmental monitoring, meteorology, and map-making. There has been an increase in the development of small satellites for such applications in recent years, which is expected to impact market growth.



  • Increasing Defense Expenditures



  • Rising Number of Private Firms in the Space Industry


Market Restraints



  • Satellite Launch Failures & High Development Cost


Segmentation


By Orbit Type



  • Low Earth Orbit: Low earth orbit satellites require the lowest amount of energy for launching. It also provides high bandwidth and low communication latency. Thus, the low earth orbit segment is expected to grow at the highest CAGR during the forecast period.

  • Medium Earth Orbit: This orbit is home to several satellites, and the most common uses include navigation, communication, and scientific. Thus, the segment is expected to register significant growth during the forecast period.

  • Geosynchronous Orbit: A geosynchronous orbit is an orbit around the Earth, in which a satellite matches Earth's rotation on its axis in the orbital period. Most of the navigation and telecommunication satellites are operates in the geosynchronous orbit; thus, it is accounted for the largest market share in 2019.


By Application



  • Telecommunication: The segment dominated the global satellite payloads market in 2019 due to high investments in the development of communication satellites by commercial, government, and military agencies across the world.

  • Remote Sensing: The segment is expected to register the highest growth rate during the forecast period owing to the extensive use of satellites for border patrol, intelligence, reconnaissance, and missile detection.

  • Scientific Research: The segment is expected to exhibit significant growth from 2019 to 2026. The use of satellites for research in various geographic areas and study climatic conditions has been increased from the last few decades. Therefore, there has been a significant demand for satellite payloads for scientific research.

  • Navigation: The segment is expected to exhibit steady growth from 2019 to 2026. A satellite navigation system is a system that uses satellites to provide autonomous geo-spatial positioning. There has been a significant deployment of satellites to support the navigation system from the last few decades globally.


By Region



  • North America: North America dominated the satellite payloads market in 2019 and is projected to remain the largest regional market during the forecast period due to the presence of several observation satellite manufacturers and high investments by NASA in the research & developments of advanced satellites.

  • Europe: Europe is expected to be the second-largest market due to the increase in the use of observation satellites by governments and private firms in Russia, the UK, Germany, and France.

  • Asia-Pacific: The market in the region is projected to exhibit the highest CAGR during the forecast period. This is due to high investments in developing new observation satellites by space agencies and some private firms in China and India. Moreover, defense organizations, space agencies, and private firms in these countries operate several communications, earth observation, and maritime satellites, which is expected to drive the regional market growth.

  • Middle East & Africa: The region comprises Saudi Arabia, the UAE, and the rest of the Middle East & Africa. The regional market is expected to register steady growth due to the increasing demand for communications, observation, and navigation satellites in the UAE and Saudi Arabia.

  • Latin America: The satellite payloads market in Latin America is growing due to the increasing demand for surveillance and navigation satellites in Brazil.


Key Players



  • 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)

  • Space Exploration Technologies Corporation (US)



Report Scope:
Report Attribute/Metric Details
  Market Size   USD 25.05 Billion
  CAGR   8.7% (2020-2027)
  Base Year   2019
  Forecast Period   2020-2027
  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

  • Increasing Demand for Small Satellites for Earth Observation
  • Increasing Defense Expenditures
  • Rising Number of Private Firms in the Space Industry


  • Frequently Asked Questions (FAQ) :


    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.