Press release
Satellites Market Surges with Demand, Key Trends, and Growth Rate in Space Tech || Lockheed Martin Corporation, The Boeing Company, Thales Group, Airbus SE
Satellites Market
The Business Research Company offers in-depth market insights through Satellites Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The satellites market size has grown strongly in recent years. It will grow from $28.11 billion in 2023 to $30.04 billion in 2024 at a compound annual growth rate (CAGR) of 6.9%. The growth in the historic period can be attributed to increasing investments in satellites, launch of advanced low earth orbit satellites, and increase in technology development.
The satellites market size is expected to see strong growth in the next few years. It will grow to $36.81 billion in 2028 at a compound annual growth rate (CAGR) of 5.2%. The growth in the forecast period can be attributed to increasing adoption of low earth orbit satellites in various sectors, increasing use of lightweight materials, robust government support, growing demand for telecommunication, and increasing investments. Major trends in the forecast period include small satellites systems, use of artificial intelligence, use of 3d printing, growing advancement in payload systems, focus on advanced ground systems and strategic collaborations and acquisitions.
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Market Segmentation:
The satellites market covered in this report is segmented -
1) By Type: Large Satellite, Mini Satellite, Micro Satellite, Nano Satellite
2) By Orbit: Low Earth Orbit (LEO), Medium Earth Orbit (MEO), Geosynchronous Orbit (GEO), Elliptical Orbit
3) By Application: Scientific Research, Technology Demonstration And Verification, Earth Observation And Remote Sensing, Communication, Other Applications
4) By End User: Commercial, Civil, Government, Military, Other End Users
Major Driver - Surging Demand For Dth Services Drives Growth In The Satellites Market
During the forecast period, the increase in demand for Direct-To-Home (DTH) television services contributed to the growth of the satellite market. The DTH (Direct to Home) service is basically a digital satellite service that delivers satellite television programming promptly to a subscriber's home. As per the Telecom Regulatory Authority of India (TRAI) Quarterly Indicator Report, in Q3 of 2022, the total active subscriber base of Pay DTH increased from 65.58 million in September 2022 to 66.62 million in December 2022. Since DTH (Direct to Home) service employs wireless technology, the television programs are transmitted to the subscriber's television directly from the satellite, which in turn drove the demand for satellites, thereby generating revenue for the growth of the global satellites market.
Competitive Landscape:
Major companies operating in the satellites market report are Lockheed Martin Corporation, The Boeing Company, Thales Group, Airbus SE, Northrop Grumman Corporation, OHB SE, Israel Aerospace Industries Ltd, ST Engineering, NanoAvionics, Gomspace, Beijing Commsat Technology Development Co., Ltd, Anabond Limited, Intech Dmls Pvt Ltd, Avasarala Technologies Limited, Telstra, Speedcast International Limited, One Space Tech, Land Space Technology Corporation Ltd, ExPace Technology Corporation, Skyroot Aerospace, Gilmour Space Technologies, NextAero, Deep Blue Aerospace, JZYJ Space Technology, Mitsubishi Heavy Industries, Tamadic Co Ltd, China Aerospace Science and Technology Corporation (CASC), Honeywell International Inc, Bombardier Inc, Embraer, McDonnell Douglas, Cessna, Telespazio SpA, Raytheon, AAC Microtec, Thales Alenia Space, Surrey Satellite Technology Ltd, EnduroSat, AAC Clyde Space, Space Exploration Technologies Corp (SpaceX), Viasat Inc, Telesat, Starlink Satellite Constellation, OneWeb, Hughes Network Systems, Innova Space, ARSAT, Satellogic, Al Yah Satellite Communications (YAHSAT), Arabsat, Es'hailSat, QSAT, Saman Satellite Communications, SSCG, DragonFly Aerospace, Eureka Geo, SCS Space, XinaBox, ETSE CubeCom, Omarichet, Simera Sense
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Top Trend - Hybrid Dth Set-Top Boxes Gain Momentum In The Satellite Market.
The launch of hybrid DTH set-top boxes is gaining popularity in the satellites market. The hybrid set-top boxes are something that surfaced because of DTH operators trying to bring online content to TV screens. For instance, in April 2023, Bharti Airtel Limited, an India-based telecommunications services company, launched X-stream, Hybrid Android set-top box. The new Airtel Xstream Box with Android 10 is a good option for users who are looking for an affordable streaming device with the latest features. The Xstream Box is also Chromecast-enabled, so users can cast content from their smartphone or tablet to their TV.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Satellites Market Characteristics
3. Satellites Market Trends And Strategies
4. Satellites Market - Macro Economic Scenario
5. Satellites Market Size And Growth
…..
27. Satellites Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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About The Business Research Company
The Business Research Company (www.thebusinessresearchcompany.com) is a market intelligence firm that pioneers in company, market, and consumer research. Located globally, TBRC's consultants specialize in various industries including manufacturing, healthcare, financial services, chemicals, and technology. The firm has offices located in the UK, the US, and India, along with a network of proficient researchers in 28 countries.
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