Satellite Payload Market Increasing Demand, Growth Analysis and Future Outlook by 2031

The global satellite payload market is anticipated to grow at a CAGR of 7.2% during the forecast period (2024-2031). Considering the growing importance of the space industry, investments in this industry are growing significantly which is contributing to the growth of the satellite payload market. For instance, In October 2023, ASPACE, a satellite manufacturer based in Hong Kong announced a close investment of 1 billion Saudi riyals ($266.6 million) from the Saudi Kingdom to help it develop advanced satellite technology domestically. Also, In June 2023, L3Harris Technologies was awarded a $29 million contract to create an overhead persistent infrared (OPIR) sensor payload for the US Space Force's upcoming missile warning satellite network. According to the company, it will undertake the initial one-year design of the OPIR sensor payload for the first phase of Space Systems Command's medium-Earth orbit constellation, designed to assist in missile tracking operations.

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Additionally, companies are increasingly focusing on research and development which is driving growth in the satellite payload industry. For instance, In April 2023, Boeing unveiled its design for the Protected Wideband Satellite (PWS), which incorporates Boeing's Protected Tactical SATCOM Prototype (PTS-P) payload hosted on the U.S. Space Force's Wideband Global SATCOM (WGS)-11 spacecraft. The PTS-P design includes automated anti-jam features, such as jammer geolocation, real-time adaptive nulling, frequency hopping, and other techniques, utilizing the capabilities of the US military's Protected Tactical Waveform (PTW) to ensure reliable connectivity for military personnel in challenging environments. By deploying PTS-P on the WGS-11 spacecraft as part of the WGS constellation, PWS seamlessly integrates with all existing WGS user terminals, enabling the gradual introduction of PTW modems in a theater of operations. In November 2023, Northrop Grumman Corporation, an aerospace, and defense technology company, achieved progress in its Arctic Satellite Broadband Mission (ASBM). Recent successful thermal vacuum tests represent significant progress in the development of a two-satellite constellation designed to enhance broadband communications in the Northern polar region for the US Space Force and Space Norway. These satellites have payloads for ViaSat and the Norwegian Ministry of Defense, as well as the integration of Enhanced Polar System Recapitalization payloads for the US Space Force.

Global Satellite Payload Market Report Segment

By Payload Type

• Communication
• Imaging
• Navigation
• Radar

By Orbit Type

• Low Earth orbit (LEO)
• Medium Earth orbit (MEO)
• Geostationary equatorial orbit (GEO)

By Application

• Telecommunication
• Remote Sensing
• Scientific Research
• Surveillance and security
• Navigation
• meteorology
• Communication

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Satellite Payload Market Report Segment by Region

North America

• United States
• Canada

Europe

• Germany
• United Kingdom
• France
• Spain
• Italy
• Rest of Europe

Asia-Pacific

• China
• Japan
• India
• Rest of Asia-Pacific

Rest of the World

• Middle East & Africa
• Latin America

Company Profiles

• Airbus SE
• Astroscale Holdings Inc.
• General Dynamics Mission Systems, Inc.
• Honeywell International Inc.
• ICEYE Oy
• Indian Space Research Organization (ISRO)
• Intelsat US LLC
• Leonardo S.p.A.
• Maxar Technologies Inc. (a subsidiary of Advent International)
• Northrop Grumman Systems Corporation
• OHB SE
• Sierra Nevada Corporation
• Space Exploration Technologies Corp.

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