Satellite Payloads Market Size, Share, Demand, Forecast 2030

The global satellite payloads market size was worth around USD 9.87 billion in 2022 and is predicted to grow to around USD 18.75 billion by 2030 with a compound annual growth rate (CAGR) of roughly 8.27% between 2023 and 2030.

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The report analyzes the global satellite payloads market drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the satellite payloads industry.

Global Satellite Payloads Market: Overview

Satellite payload is a module that can operate independent of the main spacecraft and has its communication circuitry but it shares the transponder and power supply of the satellites. They are also known as hitchhiking and piggybacking. Satellite payloads reduce the cost of building & launching a complete self-owned satellite as it enables to have communication capabilities in the orbit.

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Global Satellite Payloads Market: Growth Factors

The global satellite payloads market is growing at a speedy rate. This is strongly supported by the factors such as the rise in a number of satellite launches, satellite miniaturization growing at a rapid rate, and rise in demand for hosted payload. Further satellite payloads have a wide range of applications which includes space observation, surveillance & security, scientific research & exploration, mapping & navigation, earth observation & remote sensing, and communication. In addition to this, there is a surge in demand for satellite payloads from government, commercial civil, intelligence, and defense sector. Thus, in order to fulfill the growing demand for satellite payloads, most governments are investing heavily. All such factors are further triggering the growth of the global satellite payloads market.

Further, growing demand for satellite constellations, low mission costs, and increase in demand for earth observation payload to cover meteorology, disaster mitigation, detection of climatic changes, and many more are also some of the key aspects that are fostering the growth of the global market. Moreover, growing investment from new players in the market is contributing to the overall market growth. Furthermore, emergence of cutting-edge technologies in satellite payloads will offer ample opportunities for the growth of the global satellite payloads market over the forecast period. However, government policies associated with launch of satellite may impede the growth of the global satellite payloads market.

Satellite Payloads Market: Report Scope

The global satellite payloads market is moderately affected by the outbreak of the Covid-19. The temporary halt on manufacturing units owing to nationwide lockdown impacted the manufacturing of assembly lines, components, and satellite systems. The space industry also faced several challenges during the pandemic as it led to postponement in launches and disruption of logistic & supply chain. However, amid the Covid-19 crisis the market is expected to recover due to the strong market drivers of the satellite payload. This will lead to a healthy growth rate for the market during the forecast period.

Global Satellite Payloads Market: Segmentation

The global satellite payloads market is categorized based on payload type, orbit type, frequency band, application, and region. The payload type segment is bifurcated into communication, navigation, imaging, and others. Based on the orbit type, the global satellite payloads market is split into Medium Earth orbit (MEO), Geosynchronous Earth orbit (GEO), and Low Earth orbit (LEO). The frequency band segment incorporates C,K/KU/KA band, VHF & UHF band, X band, S&L band, and others. Based on application segment into communication and navigation, remote sensing, surveillance, others.

Global Satellite Payloads Market: Competitive Players

Airbus Group, Harris Corporation, Honeywell International Inc., Lockheed Martin Corporation, Thales Group, Raytheon Company, Space Systems/Loral, LLC, Space Exploration Technologies Corp., ViaSat Inc., and Boeing are some of the dominant players that are operating in the global satellite payloads market.

Global Satellite Payloads Market: Regional Analysis

North America is estimated to account for the largest share in the global satellite payloads market over the forecast period. Increase in expenditure and investment in research and development activities is the predominant factor that is fueling the growth of the market in this region.

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In addition to this, the presence of well-established players in the market in the US, technological advancements in satellite payloads, and successful implementation of flexible payloads in space are some of the additional factors that are boosting the growth of the market in North America. Asia Pacific is anticipated to grow at a faster rate owing to an increase in investment by government in space research and growing number of satellite launches.

Satellite Payloads Market: Competitive Analysis

The global satellite payloads market is dominated by players like:

• Airbus Group
• Harris Corporation
• Honeywell International Inc
• Lockheed Martin Corporation
• Thales Group
• Raytheon Company
• Space Systems/Loral
• LLC
• Space Exploration Technologies Corp
• ViaSat Inc
• Boeing

The global satellite payloads market is segmented as follows:

By Payload Type

• Communication
• Navigation
• Imaging
• Others

By Orbit Type

• Medium Earth Orbit (MEO)
• Geosynchronous Earth Orbit (GEO)
• Low Earth Orbit (LEO)

By Frequency Band

• C,K/KU/KA Band
• VHF & UHF Band
• X band, S&L Band
• Others

By Application

• Communication and Navigation
• Remote Sensing
• Surveillance
• Others

Global Satellite Payloads Market: Regional Segment Analysis

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa

What Reports Provides

• Full in-depth analysis of the parent market
• Important changes in market dynamics
• Segmentation details of the market
• Former, on-going, and projected market analysis in terms of volume and value
• Assessment of niche industry developments
• Market share analysis
• Key strategies of major players
• Emerging segments and regional markets
• Testimonials to companies in order to fortify their foothold in the market.