Satellite Payload Market by Orbit Type (LEO, MEO, and GEO), Payload Type (Communication Payload, Imaging Payload, Navigation Payload, and Others), Application (Telecommunication, Remote Sensing, Scientific Research, Surveillance, Navigation, and Others): Global Market Size Estimates and Forecast (2019-2030)

Code: BMIRE00026337 | Pages: 100 | Industry: Aerospace and Defense | Date: Sep 2022 | Type: Global

The market is expected to cross US$ 4.73 billion in 2022 and is projected to hit US$ 28.67 billion by 2030, recording a CAGR of 25.3% during the forecast period.

Development of Military SATCOM Technologies to Drive the Market Growth

The growing demand for military satellite communications is one of the major factors pushing the growth of satellite payload market. Vendors across this market are majorly focusing on the development of innovative payloads for military satellite communications. Several armed forces are also collaboratively working with different vendors to cater their specific requirements and remain competitive in their respective marketplace.

LEO segment is likely to dominate the satellite payload market in 2022. This is owing to the rising number of LEO satellite launches and future launches that are expected to drive the market growth during the forecast period.

Within the report, the satellite payload market is segmented into orbit type, payload type, application, and geography. By orbit type, the satellite payload market is segmented into LEO, MEO, and GEO. Based on payload type, the satellite payload market is segmented into communication payload, imaging payload, navigation payload, and others. Based on application, the satellite payload market is segmented into telecommunication, remote sensing, scientific research, surveillance, navigation, and others. Geographically, the satellite payload market is sub-segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa.

Get more information on this report :

Vendors Collaboration for the Development of Next Generation Satellite System is Likely to Provide Future Opportunities for Market Vendors During the Forecast Period.

The vendors across satellite payload market are focusing on adopting collaboration strategies for the development of next generation satellite systems. For instance, in March 2022, Lockheed Martin selected Raytheon Technologies corporation for the designing of payload for the third next-generation OPIR Geosynchronous Earth Orbit constellation systems. Such instances are propelling the satellite payload market growth.

Satellite Constellations is Likely to Drive the Satellite Payload Market Growth.

The ongoing satellite constellation launch initiatives by different companies across the world is one of the major factors catalyzing the growth of satellite payload market. The significant growth in commercial constellations across the countries such as China, US, and India are expected to drive the market growth during the near future. For instance, according to the China’s 14th 5-year plan released in 2021, the country is majorly focusing on LEO broadband technology under the GuoWang constellation of 12,992 small satellites. Such instances are pushing the deployment of satellite payloads and driving the market growth worldwide.

Recent Strategic Developments in Satellite Payload Market

The satellite payload market has undergone several significant developments, and a few of these have been mentioned below:

  • In September 2021, the Defense Advanced Research Projects Agency (DARPA) Blackjack program awarded a contract to Northrop Grumman Corporation for the development of Phase 2’s software-defined positioning, navigation, and timing (PNT) payload.
  • In February 2021, Lockheed Martin Corporation awarded a contract worth US$ 137 million to L3Harris Technologies to provide four units of navigation payload Mission Data Units (MDU) for future GPS III Follow-on (GPS IIIF) satellites.
  • In December 2020, Fraunhofer and Airbus signed a contract for a payload mission on the ISS Bartolomeo Platform.

The satellite payload market is driven by several players by implementing strategic activities such as investments, new launches, mergers & acquisitions, and partnerships Airbus, Boeing, L3Harris Technologies, Honeywell International Inc, Intelsat Corporation, Lockheed Martin Corporation, Raytheon Technologies Corporation, Space Exploration Technologies Corp., Thales Group, and Viasat Inc are among the prominent players operating in the satellite payload market.

Target audience for the report:

  • LEO satellite payload manufacturers
  • MEO satellite payload manufacturers
  • GEO satellite payload manufacturers
  • Satellite and government related associations, organizations, forums, and alliances
  • Government bodies, such as regulating authorities and policy makers
  • Venture capitalists, private equity firms, and start-up companies
  • Research institutes, organizations, and consulting companies

Scope of the report:

In this report, the satellite payload market has been segmented on the basis of:

  • Orbit Type:
    • LEO
    • MEO
    • GEO
  • Payload Type:
    • Communication Payload
    • Imaging Payload
    • Navigation Payload
    • Others
  • Application:
    • Telecommunication
    • Remote Sensing
    • Scientific Research
    • Surveillance
    • Navigation
    • Others
  • Region
    • North America
      • US
      • Canada
      • Mexico
    • Europe
    • Asia Pacific (APAC)
    • Middle East & Africa
    • South America
  • Companies profiled
    • Airbus
    • Boeing
    • L3Harris Technologies
    • Honeywell International Inc.
    • Intelsat Corporation

 

Companies profiled
- Airbus
- Boeing
- L3Harris Technologies
- Honeywell International Inc.
- Intelsat Corporation

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