The report published by Persistence Market Research projects that by the end of 2022, the global market for satellite payloads will have registered modest CAGR and procured a little over US$ 14.8 Bn
revenues. Various factors influencing the dynamics of global satellite
payload market have been compiled in the report, wherein rising
investments in space exploration sector is observed as key driver for
the market’s growth.
Optimal selection of satellite payloads has a governing influence on maximizing
the utility of the satellite. However, manufacturers continue to
struggle in development of satellite payloads under power supply
constraints associated with satellite buses. In spite of attaining
surplus investments, companies operating in the global satellite payload
market continue to rely on experimental solutions for eliminating such
shortcomings. According to Persistence Market Research, the global
market for satellite payloads is expected to witness a moderate growth
in the next five years.
Segmental Analysis of Global Satellite Payload Market
The report has segmented the global market for satellite payloads on the
basis of orbit-type, payload-type, applications and frequency bands.
- In 2017, the global market for satellite payloads witnessed higher demand
for hosted payloads designed for low earth orbit (LEO) deployment. While
satellite payloads developed for LEO deployment will witness highest
revenue share, global revenues contributed by this segment will incur
sluggish growth throughout the forecast period. - Through 2022, navigation payloads will attain the largest revenue share,
followed by imaging satellite payloads and communication payloads.
Deployment of a majority of commercial satellites is expected to be
directed towards boosting the strength of global navigation network. - Concurrently, navigation is expected to remain the largest application for satellite
payloads. By the end of 2022, navigation application of satellite
payloads is anticipated to procure around US$ 7 Bn in global revenues.
Towards the end of forecast period, scientific research applications of
satellite payloads are also expected to gain traction. - The report further projects that sales of C K/KU/KA band payloads will
dominate the market, recording nearly one-fourth share on global market
throughout the forecast period.
Satellite Payloads Market: Regional Overview
The Asia-Pacific excluding Japan (APEJ) region is exhibiting growing
interests in space technology and utilization, which has contributed to
the surging demand for satellite payloads. The report projects that
throughout the forecast period, the APEJ region will dominate the global
market for satellite payloads. The APEJ satellite payload market is
anticipated to create an incremental opportunity of US$ 780 Mn by 2022.
North America’s satellite payloads market, on the other hand, is pegged to
reflect a moderate CAGR through 2022, wherein a few US-based space
technology companies are expected to deliver astronomical ROIs. Emerging
space administration sector in Europe is also expected to factor in
global expansion of satellite payload market.
Companies
- Airbus Defence and Space
- Boeing Company
- Thales S.A
- Lockheed Martin Corporation
- Mitsubishi Electric Corporation
- Honeywell International Inc
- Harris Corporation
- Lucix Corporation
Market TaxonomyRegion
- North America
- Latin America
- Europe
- Japan
- APEJ
- MEAOrbit Type
- LEO (Low Earth orbit)
- GEO (Geosynchronous Earth orbit)
- MEO (Medium Earth orbit)Payload Type
- Communication
- Imaging
- Navigation
- OthersApplication
- Telecommunication
- Remote Sensing
- Scientific research
- Surveillance
- NavigationFrequency Band
- C,K/KU/KA band
- S&Lband
- X band
- VHF & UHF band
- Others
