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Surging Demand For Dth Services Drives Growth In The Satellites Market: Powering Innovation and Expansion in the Satellites Market by 2025
Satellites
What Is the Expected CAGR for the Satellites Market Through 2025?
There has been significant expansion in the satellites market recently. The market size is anticipated to increase from $25.01 billion in 2024 to $26.4 billion in 2025, with a compound annual growth rate (CAGR) of 5.6%. This impressive growth during the historical period is due to the escalating investments in satellites, the deployment of advanced low earth orbit satellites, and an upsurge in technological advancement.
What's the Projected Size of the Global Satellites Market by 2029?
In the coming years, the market size of satellites is anticipated to experience consistent growth. It's predicted to rise to $31.56 billion by 2029, with a compound annual growth rate (CAGR) at 4.6%. This growth during the forecast period is likely due to the rising incorporation of low earth orbit satellites across various sectors, the escalating use of featherweight materials, strong governmental backing, increased demand in telecommunications, and greater investments. Foreseen trends within this period encompass the development of compact satellite systems, the application of artificial intelligence, the emergence of 3D printing, advancements in payload systems, an emphasis on sophisticated ground systems, and strategic partnerships and buyouts.
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Top Growth Drivers in the Satellites Industry: What's Accelerating the Market?
The global satellite market experienced growth throughout the forecast period as a result of the increased demand for Direct-To-Home (DTH) television services. Essentially, DTH is a digital satellite service that immediately supplies satellite TV programming to a customer's household. As indicated by the Telecom Regulatory Authority of India (TRAI) Quarterly Indicator Report in May 2023, there was an uptick in the total active subscriber base of Pay DTH in the third quarter of 2022, from 65.58 million in September 2022 to 66.62 million in December 2022. Since DTH service uses wireless technology, TV programs are directly delivered to the subscriber's TV from the satellite. This led to a surge in satellite demand, which subsequently stimulated revenue growth in the global satellite market.
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What Trends Will Shape the Satellites Market Through 2029 and Beyond?
The advent of hybrid DTH set-top boxes is increasingly becoming a trend in the satellite market, an invention stemming from DTH companies' initiative to transfer internet content to television screens. In an instance, Bharti Airtel Limited, a leading telecommunications services platform in India, introduced X-stream, a Hybrid Android set-top box in April 2023. The freshly unveiled Airtel Xstream Box equipped with Android 10 presents a cost-effective solution for consumers seeking a streaming device armed with the most recent features. Furthermore, the Xstream Box is compatible with Chromecast, offering users the convenience of projecting content from their mobile devices onto their television screens.
What Are the Main Segments in the Satellites Market?
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
Subsegments:
1) By Large Satellite: Geostationary Satellites, High-Capacity Communication Satellites, Earth Observation Satellites
2) By Mini Satellite: Miniaturized Communication Satellites, Science And Research Satellites
3) By Micro Satellite: Technology Demonstration Satellites, Low Earth Orbit (LEO) Satellites For Data Collection
4) By Nano Satellite: CubeSats, PocketQubes, Educational And Experimental Satellites
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Which Top Companies are Driving Growth in the Satellites Market?
Major companies operating in the satellites market include 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, Avasarala Technologies Limited, Speedcast International Limited, One Space Tech, Land Space Technology Corporation Ltd, ExPace Technology Corporation, Skyroot Aerospace, Gilmour Space Technologies, Deep Blue Aerospace, Mitsubishi Heavy Industries, China Aerospace Science and Technology Corporation (CASC), Honeywell International Inc, 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, DragonFly Aerospace, Eureka Geo, XinaBox, Simera Sense
Which Regions Will Dominate the Satellites Market Through 2029?
Asia-Pacific was the largest region in the satellites market in 2024. Asia-Pacific is expected to be the fastest-growing region in the global satellites market share during the forecast period. The regions covered in the satellites market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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