What Has Been the Growth of the Medium And Large Satellite Market So Far?
The medium and large satellite market has seen considerable growth due to a variety of factors.
• There has been significant growth in the medium and large satellite market size in the past few years. The market is projected to expand from $214.6 billion in 2024 to an impressive $225.79 billion in 2025, exhibiting a compound annual growth rate (CAGR) of 5.2%.
The past growth spur can be credited to the escalating demand for military reconnaissance alongside communication applications, burgeoning need for medium and large satellites in the space industry, amplified requisition for services based on satellite technology, increment in the financial investments within the space industry, and an expanding demand for broadband internet access.
How Will the Medium And Large Satellite Market?
The medium and large satellite market is expected to maintain its strong growth trajectory in upcoming years.
• Anticipated steady growth is projected for the medium and large satellite market. Its value is expected to reach $262.83 billion at a 3.9% compound annual growth rate (CAGR) by 2029. Driving this expansion during the forecast period are factors such as increasing use of satellite imaging for defense and homeland security, surging demand for high-speed internet and superior communication infrastructure, and rising need for high-resolution image capturing capacity across different applications including earth observation and agriculture. Ongoing development of lightweight 3D printed satellite components, satellite miniaturization, high-throughput satellites, inter-satellite communication networks, and advanced communication satellites constitute major trends in the near future.
Which Factors Are Boosting Growth In The Medium And Large Satellite Market?
The escalating demand for improved communication infrastructure is predicted to accelerate the expansion of the medium and large satellite market in the future. Communication infrastructure, which forms the core of the communication system, comprises numerous networks and technologies that facilitate the smooth transfer of information. The consistent technological advancements, including the emergence of the internet of things (IoT), artificial intelligence and 5G networks, necessitate a sturdy communication infrastructure. This infrastructure aids in quicker and more trustworthy data transmission between satellites and ground stations, enabling real-time supervision and management of satellite operations. For example, the Canadian Radio, Television, and Telecommunications Commission, a government agency based in Canada, reported that in February 2024, the Canadian telecommunications sector experienced a total revenue increase of 3.5% in 2022, mirroring closely the 3.4% growth witnessed in 2021. Hence, the escalating demand for more superior communication infrastructure is fuelling the growth of the medium and large satellite market.
What Key Areas Define The Segmentation Of The Global Medium And Large Satellite Market?
The medium and large satellite market covered in this report is segmented –
1) By Propulsion Type: Chemical Propulsion, Electrical Propulsion
2) By Orbit: Low Earth Orbit (LEO), Medium Earth Orbit (MEO), Geostationary Orbit (GEO), Other Orbits
3) By Application: Earth Observation, Navigation And Global Positioning, Communication, Other Applications
4) By End User: Commercial, Government, Military
Subsegments:
1) By Chemical Propulsion: Monopropellant Systems, Bipropellant Systems
2) By Electrical Propulsion: Ion Thrusters, Hall Effect Thrusters, Electric Arc Thrusters
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What Trends Are Shaping The Medium And Large Satellite Market?
Leading firms in the medium and large satellite market are prioritizing the introduction of innovative technologies, including ground-to-satellite connectivity features on satellites, to enhance their service portfolio. This connectivity allows for communication between terrestrial stations and satellites in orbit. In January 2023, for example, Qualcomm Technologies, Inc., an American pioneer in digital wireless telecommunications products and services, unveiled Snapdragon Satellite. Lauded as the first satellite-based two-way messaging service for premium smartphones worldwide, Snapdragon Satellite leverages Snapdragon 5G Modem-RF Systems. It is backed by the fully-operational Iridium satellite constellation, and is predicted to facilitate global access via mobile messaging from anywhere in the world.
Who Are the Key Players In The Medium And Large Satellite Market?
Major companies operating in the medium and large satellite market are:
• The Boeing Company
• The Lockheed Martin Corporation
• Airbus SE
• China Aerospace Science and Technology Corporation
• Northrop Grumman Corporation
• Mitsubishi Electric Corporation
• National Aeronautics and Space Administration
• Safran Electronics & Defense
• Thales Group
• L3Harris Technologies Inc.
• Singapore Technologies Engineering Ltd.
• Israel Aerospace Industries
• Space Exploration Technologies Corp.
• Honeywell Aerospace Technologies
• EchoStar Corporation
• Sierra Nevada Corporation
• DigitalGlobe
• Maxar Technologies Inc.
• RUAG Space
• OHB SE
• Rocket Lab USA Inc.
• Arianespace SA
• UrtheCast
• AMOS Spacecom
• Ball Aerospace & Technologies Corp.
• GomSpace Aps
• Surrey Satellite Technology Ltd
What Is The Most Dominant Region In The Medium And Large Satellite Market?
North America was the largest region in the medium and large satellite market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the medium and large satellite market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
