Satellite Payload Market To Grow Enormously with Size Worth .8 Billion By 2025 |Grand View Research, Inc.Posted by Mrudula Anil Karmarkar on June 12th, 2024 San Francisco, 12 June 2024: The Report Satellite Payloads Market Size, Share & Trends Analysis Report By Orbit (LEO, MEO, GEO), By Application (Communication & Navigation, Remote Sensing, Surveillance), By End Use, By Region, And Segment Forecasts, 2018 - 2025 The global satellite payloads market size is expected to reach USD 21.8 billion by 2025, according to a new report by Grand View Research, Inc. The market is expected to witness a CAGR of 7.9% over the forecast period, owing to Increased government spending in space exploration activities is expected to boost the market growth over the forecast period. The growing popularity of communication and broadcasting services including pay TV and Over-The-Top (OTT) have led providers to develop advanced payload systems. Moreover, the increased penetration of payloads in the commercial sector is expected to propel the market demand. The market is expected to witness significant growth as there has been a great rise in the ordering and manufacturing of vast constellations of satellites for earth observation and telecommunication. Incremental improvements in launch operations and vehicle design are enabling a reduction in time for the manufacturing of payloads. Moreover, the evolution of small satellites is leading to the production of smaller payloads to reduce launch costs. The need for geospatial tracking and positioning in the commercial sector is expected to drive the demand for satellite payloads over the forecast period. The emergence of high throughput satellites has resulted in high data-rate satellite transmission capability, which in turn is creating new opportunities for enhanced applications such as military, navigation, and commercial. Significant innovations in communication & navigation applications such as Radio Frequency (RF) payload systems, flexible payloads, and advanced regenerative payloads are contributing to industry growth. The growing trend of miniaturization has resulted in the development of small radar cameras and sensors that are commonly attached to large satellites for producing high-quality images of the earth’s surface. These small satellites are equipped with payloads that provide information about the land cover characteristics, urban regions, and other multi-purpose images. However, high design and manufacturing costs are expected to pose a serious challenge to market growth over the next few years. Request sample report of Satellite Payload Market@ https://www.grandviewresearch.com/industry-analysis/satellite-payloads-market/request/rs1 Flexible payloads are witnessing a rise in popularity as they can modify antenna beam patterns in orbit to respond to market demands. For instance, Airbus S.A.S. has designed a high power multi-beam broadcast antenna to allow operators to configure shaped beams for their customers with the help of flexible payloads. Further key findings from the report suggest:
Digital payloads are gaining prominence as they are transforming the industry by allowing bandwidth to be switched between different transponders. These payloads are expected to change the cost structure of the satellite industry with their increasing adoption for various applications and services. They also allow end users to use smaller and affordable antennas on the ground to offer a cost advantage, leading manufacturers to provide smaller antennas that can automatically lock on to the satellites. Moreover, the emergence of Digital Transparent Processor (DTP) is expected to transform the market as it uses multiple beams from the satellite and combines them into a single loop to connect them to multiple gateways seamlessly and efficiently. These processors offer flexibility regarding connectivity to overcome connection and channelization concerns. Recent Development
Report Scope
Key industry players include Airbus Group, Honeywell International Inc., Lockheed Martin Corporation, Raytheon Corporation, and The Boeing Company. Players are engaged in mergers, acquisitions, and partnerships to gain an advantage over competitors. For instance, in March 2016, the Airbus Group acquired Navtech with a view to offering end-to-end flight operation services by providing solutions for electronic flight bags, aeronautical charts, navigation data, performance-based navigation, flight planning, aircraft performance, and crew planning. Additionally, manufacturers are offering and developing new technologies that alter the cost capability dynamics of payloads. For example, miniaturization has garnered increased importance over the past few years as it is well suited for data gathering and scientific observations Like it? Share it!More by this author |