Press release
Satellite Payloads Market: Empowering Space Exploration - Revolutionizing Satellite Technology with Advanced and Customizable Payload Solutions
Satellite Payloads Market
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.
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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.
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Companies
Airbus Defence and Space
Boeing Company
Thales S.A
Lockheed Martin Corporation
Mitsubishi Electric Corporation
Honeywell International Inc
Harris Corporation
Lucix Corporation
Market Taxonomy
Region
North America
Latin America
Europe
Japan
APEJ
MEA
Orbit Type
LEO (Low Earth orbit)
GEO (Geosynchronous Earth orbit)
MEO (Medium Earth orbit)
Payload Type
Communication
Imaging
Navigation
Others
Application
Telecommunication
Remote Sensing
Scientific research
Surveillance
Navigation
Frequency Band
C,K/KU/KA band
S&Lband
X band
VHF & UHF band
Others
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Persistence Market Research is a U.S.-based full-service market intelligence firm specializing in syndicated research, custom research, and consulting services. Persistence Market Research boasts market research expertise across the Healthcare, Chemicals and Materials, Technology and Media, Energy and Mining, Food and Beverages, Semiconductors and Electronics, Consumer Goods, and Shipping and Transportation industries. The company draws from its multi-disciplinary capabilities and high-pedigree team of analysts to share data that precisely corresponds to clients' business needs.
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