Medium And Large Satellite Industry to Achieve $257.37 Billion Growth by 2029

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How Will the Medium And Large Satellite Market Grow by 2025 in Terms of Size and Growth?
The market size for medium and large satellites has experienced consistent growth over the past several years, elevating its value from $214.6 billion in 2024 to an anticipated $223.69 billion in 2025. This represents a compound annual growth rate (CAGR) of 4.2%. Factors contributing to this expansion in the historic period include heightened demand for military reconnaissance and communication applications, increased demand from the space industry for medium and large satellites, a surge in demand for satellite-based services, burgeoning investment in the space sector, and increased demand for broadband internet access.

What Are the Estimated Growth Rates for the Medium And Large Satellite Industry Through 2029?
The market size for medium and large satellites is anticipated to steadily increase in the coming years. By 2029, its growth is projected to reach $257.37 billion, with a compound annual growth rate (CAGR) of 3.6%. This growth during the forecast period is due to the increasing use of satellite imagery for purposes of homeland security and defense, the escalating demand for fast internet, the necessity for improved communication infrastructure, and the growing requirement for high-quality imaging for uses such as earth observation and agriculture. The requirement for remote sensing applications also contributes to this growth. Prominent trends within the forecast period encompass the creation of 3D printed lightweight satellite components, satellite miniaturization, high-throughput satellites, inter-satellite communication networks, and next-generation communication satellites.

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What Are the Strategic Drivers Boosting Medium And Large Satellite Market Performance?
The escalating demand for improved communication infrastructure is predicted to contribute to the expansion of the medium and large satellite market in the future. Communication infrastructure is the core of any communication system, including various networks and technologies that enable the flawless flow of information. The ongoing advancements in technology, encompassing the emergence of the internet of things (IoT), artificial intelligence, and 5G networks, mandate a solid communication infrastructure. It allows quicker and more dependable data transmission between satellites and terrestrial stations, thus enabling real-time surveillance and handling of satellite operations. For instance, in February 2024, as per the Canadian Radio, Television, and Telecommunications Commission, a Canada-based government agency, the Canadian telecommunications industry experienced a 3.5% increase in total revenues in 2022, closely mirroring the 3.4% growth seen in 2021. Hence, the escalating demand for superior communication infrastructure is steering the expansion of the medium and large satellite market.

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What Are the Segments in the Medium And Large Satellite Market?
The medium and large satellite market covered in this report is segmented -

1) By Propulsion Type: Chemical Propulsion, Electrical Propulsion
2) By Orbit: Low Earth Orbit (LEO), Medium Earth Orbit (MEO), Geostationary Orbit (GEO), Other Orbits
3) By Application: Earth Observation, Navigation And Global Positioning, Communication, Other Applications
4) By End User: Commercial, Government, Military

Subsegments:
1) By Chemical Propulsion: Monopropellant Systems, Bipropellant Systems
2) By Electrical Propulsion: Ion Thrusters, Hall Effect Thrusters, Electric Arc Thrusters

What Are the Key Adoption Trends in the Medium And Large Satellite Market?
Major firms engaged in the medium and large satellite market are concentrating on the development of novel technologies such as the ground-to-satellite connectivity feature in satellites, to enhance their service offerings. This feature represents a communication conduit between terrestrial stations and space satellites. As an illustration, Qualcomm Technologies, Inc., an American digital wireless telecommunications product and services provider, rolled out Snapdragon Satellite in January 2023. Recognized as the globe's inaugural satellite-supported two-way messaging solution for high-end smartphones, Snapdragon Satellite is facilitated by Snapdragon 5G Modem-RF Systems and bolstered by the Iridium satellite constellation. This constellation is currently fully active and is expected to deliver global access to mobile messages from anywhere in the world.

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Which Companies Lead the Competitive Landscape of the Medium And Large Satellite Industry?
Major companies operating in the medium and large satellite market are The Boeing Company, The Lockheed Martin Corporation, Airbus SE, China Aerospace Science and Technology Corporation, Northrop Grumman Corporation, Mitsubishi Electric Corporation, National Aeronautics and Space Administration, Safran Electronics & Defense, Thales Group, L3Harris Technologies Inc., Singapore Technologies Engineering Ltd., Israel Aerospace Industries, Space Exploration Technologies Corp., Honeywell Aerospace Technologies, EchoStar Corporation, Sierra Nevada Corporation, DigitalGlobe, Maxar Technologies Inc., RUAG Space, OHB SE, Rocket Lab USA Inc., Arianespace SA, UrtheCast, AMOS Spacecom, Ball Aerospace & Technologies Corp., GomSpace Aps, Surrey Satellite Technology Ltd

Where Are the Key Medium And Large Satellite Market Opportunities by Region?
North America was the largest region in the medium and large satellite market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the medium and large satellite market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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This release was published on openPR.