Satellites Industry to Achieve $30.97 Billion Growth by 2029

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How Will the Satellites Market Grow by 2025 in Terms of Size and Growth?
The market for satellites has experienced consistent growth in the past few years. Its size will expand from $24.15 billion in 2024 to $25.35 billion in 2025, boasting a compound annual growth rate (CAGR) of 4.9%. Factors contributing to growth during the historic period include rising investments in satellites, the introduction of sophisticated low earth orbit satellites, and advancements in technology.

What Are the Estimated Growth Rates for the Satellites Industry Through 2029?
We are anticipated to witness a substantial expansion in the satellite market in the coming years, with its value projected to reach $30.97 billion by 2029, growing at a Compound Annual Growth Rate (CAGR) of 5.1%. This surge during the prediction duration is primarily due to the rising deployment of low earth orbit satellites across multiple sectors, heightened utilization of lightweight materials, solid governmental backing, burgeoning demand in telecommunications, and enhanced financial inflows. The forecast period is likely to see prominent trends such as the popularity of small satellite systems, application of artificial intelligence, 3D printing utilization, advancement in payload systems, emphasis on highly sophisticated ground systems, and strategic partnerships and buyouts.

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What Are the Strategic Drivers Boosting Satellites Market Performance?
The growth of the satellite market during the forecast period was fuelled by the rising demand for Direct-To-Home (DTH) television services. A DTH service is essentially a digital satellite service that instantaneously delivers satellite television programming to the home of a subscriber. The Quarterly Indicator Report by the Telecom Regulatory Authority of India (TRAI) recorded in May 2023 that the total active Pay DTH subscriber base had surged from 65.58 million in September 2022 to 66.62 million by December 2022. The DTH service uses wireless technology to directly transmit television programs from the satellite to the subscriber's TV. This drove the need for satellites and consequently contributed to the revenue growth of the global satellite market.

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What Are the 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

What Are the Key Adoption Trends in the Satellites Market?
The introduction of hybrid DTH set-top boxes is rising in popularity in the satellite market. The origin of these hybrid boxes is attributed to DTH operators' attempts to deliver online content to television screens. For instance, in April 2023, Bharti Airtel Limited, a firm that provides telecommunications services in India, debuted the X-stream, a hybrid Android set-top box. The new Airtel Xstream Box equipped with Android 10 is seen as a favorable alternative for customers seeking a reasonably priced streaming device that comes with cutting-edge features. In addition, the Xstream Box has Chromecast capability, allowing users to project content from their mobile devices or tablets to their television screens.

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Which Companies Lead the Competitive Landscape of the Satellites Industry?
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

Where Are the Key Satellites Market Opportunities by Region?
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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