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Medium and Large Satellite Market to Reach USD 243.3 Billion by 2031, Driven by Rising Demand for Communication Services and Technological Advancements - TMR Analysis
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Analyst Perspective
The expanding global connectivity landscape is propelling the need for satellite-based broadband, broadcasting, and telecommunication services. Medium and large satellites offer extended coverage, greater payload capacity, and operational durability, making them ideal for supporting modern communication infrastructure.
Governments are bolstering satellite programs through strategic R&D funding, and leading aerospace firms are engaging in innovation, partnerships, and acquisitions to strengthen their global footprint. These developments are shaping a competitive and fast-evolving satellite market landscape.
"With rising global internet penetration and evolving defense and surveillance applications, the deployment of high-capacity medium and large satellites is becoming critical to meeting next-gen communication and observation needs," said a lead TMR analyst.
Market Drivers
Rise in Demand for Communication Services
The surge in global internet usage is a key growth driver for the satellite industry. According to the International Telecommunication Union, 67% of the global population now uses the internet, representing 5.4 billion users as of 2023. Medium and large satellites, with their high-capacity communication payloads, play a pivotal role in expanding broadband coverage to underserved and remote areas.
These satellites are essential for seamless delivery of services such as telecommunication, digital TV, and global internet access, contributing significantly to market revenue.
Advancements in Space Technology
Rapid innovation in satellite manufacturing, launch systems, and propulsion technologies is revolutionizing the space industry. Cost-efficient design and deployment methods, combined with high-performance onboard systems, have enhanced satellite reliability and functionality.
According to the World Economic Forum, global government spending on civil and military space programs saw a 19% increase in 2022. This growing expenditure highlights the strategic importance of space technologies and is further propelling market expansion.
Regional Outlook
North America Dominates Global Market Share
North America held the largest market share in 2022 and is expected to continue leading throughout the forecast period. The region's dominance is fueled by cutting-edge advancements in satellite technologies and strong demand for uninterrupted connectivity services.
The U.S. alone hosts over 311 million internet users, with more than 90% of the population connected online. Government funding for space exploration and satellite innovation further cements North America's leadership in the global satellite ecosystem.
Competitive Landscape
Prominent players in the medium and large satellite market are focused on technological innovation, strategic collaborations, and new product launches to capitalize on emerging opportunities. Key developments include:
February 2023 - SES S.A. partnered with ThinKom and Hughes to launch a high-performance multi-orbit aerial satcom service using the ThinAir Ka2517 terminal across MEO and GEO networks.
January 2023 - Viasat secured a renewed contract with the United States Marine Corps to provide end-to-end satellite communications under a managed service model.
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Leading Companies Profiled
GomSpace
Lockheed Martin Corporation
SES S.A.
Inmarsat Global Limited
Airbus
SpaceX
Maxar Technologies
UrtheCast
AMOS Spacecom
EchoStar Corporation
Market Segmentation
Solution
Hardware
Software
Data Processing
Launch Service
Mass
500 Kg - 1000 Kg (Medium Satellites)
1000 Kg (Large Satellites)
Band
X-band
K-Band
Ka-band
Others
Orbit
Geo-stationary Earth Orbit (GEO)
Medium Earth Orbit (MEO)
Low Earth Orbit (LEO)
Highly Elliptical Orbit (HEO)
Propulsion Type
Chemical Propulsion
Electrical Propulsion
Application
Navigation & Mapping
Communication
Reconnaissance
Others (Earth Observation and Remote Sensing)
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Discover More In-Depth Reports from Transparency Market Research -
Satellite IoT Market- https://www.transparencymarketresearch.com/satellite-iot-market.html
Commercial Satellite Imaging Market- https://www.transparencymarketresearch.com/commercial-satellite-imaging-market.html
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About Us Transparency Market Research
Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. The firm scrutinizes factors shaping the dynamics of demand in various markets. The insights and perspectives on the markets evaluate opportunities in various segments. The opportunities in the segments based on source, application, demographics, sales channel, and end-use are analysed, which will determine growth in the markets over the next decade.
Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision-makers, made possible by experienced teams of Analysts, Researchers, and Consultants. The proprietary data sources and various tools & techniques we use always reflect the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in all of its business reports.
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