The Business Research Company’s Satellite Payload Global Market Report 2022 – Market Size, Trends, And Global Forecast 2022-2026
LONDON, GREATER LONDON , UK, September 30, 2022 /EINPresswire.com/ — As per The Business Research Company’s “Satellite Payload Global Market Report 2022”, the satellite payload market size is expected to grow from $13.67 billion in 2021 to $14.81 billion in 2022 at a compound annual growth rate (CAGR) of 8.32%. The growth in the market is mainly due to the companies’ resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The global satellite payloads market size is expected to reach $20.57 billion in 2026 at a CAGR of 8.57%. According to the satellite payload market research, the increasing number of satellite launches is expected to propel the growth of the market.
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Key Trends In The Satellite Payload Market
The development of artificial intelligence (AI) and cloud-enabled software-defined radio payloads is one of the rising trends shaping the satellite payload market outlook. For enhanced flexibility in space missions, these AI-based payloads can be reprogrammed and reconfigured as per the specific mission requirements and can facilitate advanced satellite communications. Due to the rise of the new generation of fully flexible satellites, companies are integrating AI tools into satellite payloads. For instance, in June 2021, the European Union financed ATRIA (AI-Powered Ground Segment Control for Flexible Payloads), a project that will produce a general and intelligent tool called AI-PCS to control current satellite flexible payloads and their configurable traditional counterparts. On-demand service demands: artificial intelligence approaches allow the tool to decide the best arrangement of available satellite resources for on-demand service demands. The Spanish professional engineering services company, GMV Aerospace and Defense, is the project’s coordinator, and it involves seven partners from four nations.
Overview Of The Satellite Payload Market
The satellite payload market consists of sales of satellite payloads by entities (organizations, sole proprietors, partnerships) that refer to modules that are carried by satellites having the ability to execute specific functions. The payload, which includes communications antennas, receivers, and transmitters, assists the satellite in fulfilling its functions and helps in telecommunications, remote sensing, scientific research, surveillance, and navigation.
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Satellite Payload Global Market Report 2022 from TBRC covers the following information:
Market Size Data
• Forecast period: Historical and Future
• By region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• By countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
• By Payload Type: Communication, Imagery, Navigation, Others
• By Orbit Type: LEO (Low Earth Orbit), GEO (Geosynchronous Earth Orbit), MEO (Medium Earth Orbit)
• By Vehicle Type: Small, Medium, Heavy
• By End-User: Commercial, Government and Defense, Dual Users
• By Geography: The global satellite payload market report is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, North America holds the largest share in the market.
Major market players such as Northrop Grumman, Raytheon Technologies Corporation, Lockheed Martin Corporation, Thales Alenia Space, Airbus Defence and Space, The Boeing Company, Honeywell International Inc., L3Harris Technologies Inc., Viasat, Inc., Lucix Corporation, Sierra Nevada Corporation, Intelsat General Corporation, Gomspace, MDA Corporation, and General Dynamics Mission Systems.
Trends, opportunities, strategies and so much more.
Satellite Payload Global Market Report 2022 is one of The Business Research Company’s comprehensive reports that provides an overview of satellite payload global market. The market report analyzes satellite payload global market size, satellite payload market growth drivers, satellite payload global market segments, satellite payload global market major players, satellite payload global market growth across geographies, and satellite payload market competitors’ revenues and market positioning. The satellite payload market report enables you to gain insights on opportunities and strategies, as well as identify countries and segments with the highest growth potential.
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