New Report Offers Satellite Payloads Market, Trends, Future Prospects during 2017-2022

New research report offers a comprehensive analysis of the “Global Market Study on Satellite Payloads Market: Rising Focus on Navigation Satellite Payloads to Instrument Market Growth through 2022“The main objective of this report is to deliver insightful information and clear-cut facts pertaining to the growth trajectories of the market.

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Maximizing the total expected utility of satellites is the prime reason that necessitates the need for hosted payloads. Currently, satellite payloads tend to incur failures in due of power supply constraints associated with satellite bus. Volume, weight and cost limitations of satellite buses have been influencing the criteria employed by leading space technology organizations towards adoption of satellite payloads. Past decade has exhibited a considerable rise in deployment of heuristic solutions towards eliminating satellite payload drawbacks. Since satellites are momentous in military applications, manufacturers are also focusing on advancing the designs of hosted payloads by boosting their sustenance to environmental deterioration, increasing their engineering compatibility across multiple bus-types, and equipping them with transcoding and data sequencing functionalities in addition to their core capabilities.

Attached to the bus of satellites, satellite payloads are modules that perform core functionalities related to multiple protocols of the satellite such as communications, imaging, navigation, and exploration, among others. Power supply and transponders of the commercial satellite are shared by the bus and these hosted payloads, with the latter being independent in terms of operations. Satellite payloads perform the required transcoding and communications functionalities to execute the satellite’s circuitry. During the assessment period, 2017-2022, the global market for satellite payloads is expected to reach more than US$ 14.8 Bn value, reflecting growth at a moderate CAGR.

Rising Demand for Navigation Payloads
In the years to come, the global market for satellite payloads will witness a surge in adoption of navigation payloads. By the end of 2017, the adoption of navigation payloads in the global satellite payload market is projected to procure revenues worth over US$ 7 Bn. Imaging payloads, on the other hand, will reflect a relatively sluggish growth in terms of adoption during the forecast period.  

Growing Focus towards Medium Earth Orbit (MEO) Deployment
In the next five years, manufacturers of satellite payloads are anticipated to focus on developing hosted payloads for deployment in MEO as this segment is expected to reflect over 5% CAGR. Budget constraints are expected to play a key role in deployment of satellite payloads across low earth orbit (LEO) and geosynchronous earth orbit (GEO). Although, the report also projects that by the end of 2022, satellite payloads developed for LEO deployment will reflect the highest revenue share in the global satellite payload market.

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Navigation – Largest Application for Satellite Payloads
Throughout the forecast period, navigation will be observed as the most-promising application for satellite payloads in the global market. Satellite payloads developed for telecommunication application are also expected to gain traction, procuring over one-fifth share on global revenues towards the end of the forecast period. During the forecast period, intelligent gathering, reconnaissance, imaging and meteorology are likely to emerge as key payload-types, the adoption of which is expected to instrument growth in surveillance applications of satellite payloads and their need in the defense & military sector.

The report also projects that criteria employed in the selection of satellite payloads will include their frequency bandwidth. In 2017, C, K/KU/KA band satellite payloads are anticipated to procure revenues worth over US$ 3 Bn, becoming the sought-after hosted payloads in the global market. Going forward, manufacturing satellite payloads will continue to become more critical, wherein companies will be seeking higher investments whilst tacking stringent cost limitations. Advent of new manufacturing technologies will also influence the designs of satellite payloads, with miniaturization trends gaining grounds. Companies namely, Boeing Company, Airbus Defense and Space, Lockheed Martin Corporation, Thales Group, Mitsubishi Electrical Corporation, Harris Corporation, Honeywell International Inc., and Lucix Corporation are observed to remain active participants in the global market for satellite payloads throughout the forecast period.

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