The Satellite Payloads Market analysis and report by Persistence Market Research is now available.
The optimal selection of satellite payloads has a governing influence on maximizing the utility of the satellite. However, manufacturers continue to struggle in the development of satellite payloads under the power supply constraints that are associated with satellite buses.
In spite of attaining surplus investments, companies operating in the global satellite payload market continue to rely on experimental solutions for eliminating such shortcomings. According to study analysis, the global market for satellite payloads is expected to witness a moderate growth in the next five years.
According to research, the global market for satellite payloads will have registered modest CAGR and procured a little over $14.8 billion in revenues by the close of forecast period, 2017 to 2022. Various factors influencing the dynamics of global satellite payload market have been compiled in the report, wherein rising investments in space exploration sector is observed as key driver for the market’s growth.
This report has segmented the global market for satellite payloads on the basis of orbit-type, payload-type, applications and frequency bands.
In 2017, the global market for satellite payloads witnessed higher demand for hosted payloads designed for LEO deployment. While satellite payloads developed for LEO, deployment will witness the highest revenue share and global revenues contributed by this segment will incur sluggish growth throughout the forecast period.
Throughout 2022, navigation payloads will attain the largest revenue share, followed by imaging satellite payloads and communication payloads. Deployment of a majority of commercial satellites is expected to be directed toward boosting the strength of global navigation network.
Concurrently, navigation is expected to remain the largest application for satellite payloads. By the end of 2022, navigation application of satellite payloads is anticipated to procure around $7 billion in global revenues. Toward the end of forecast period, scientific research applications of satellite payloads are also expected to gain traction.
The study further projects that sales of C-/K-/Ku-/Ka-band payloads will dominate the market, recording nearly one-fourth share on global market throughout the forecast period.
The Asia-Pacific (APAC) region, excluding Japan, is exhibiting growing interests in space technology and utilization and that has contributed to the surging demand for satellite payloads. The report projects that throughout the forecast period, the APAC region will dominate the global market for satellite payloads, with the satellite payload market anticipated to create an incremental opportunity of $780 million between 2017 and 2022.
North America’s satellite payloads market, on the other hand, is pegged to reflect a moderate CAGR through 2022, wherein a few U.S.-based space technology companies are expected to deliver astronomical ROIs. The emerging space administration sector in Europe is also expected to factor in global expansion of the satellite payload market.
This study has also profiled leading players in the global satellite payload market that includes Airbus Defense and Space, Boeing Company, Thales Group, Lockheed Martin Corporation, Mitsubishi Electrical Corporation, Honeywell International Inc., Harris Corporation, and Lucix Corporation.