What Has Been Satellites Market in Recent Years?
The satellites market has seen considerable growth due to a variety of factors.
• The sector of satellites has seen robust growth in its market size over the past few years. Its valuation is projected to rise from $25.01 billion in 2024 to $26.4 billion in 2025, reflecting a compound annual growth rate (CAGR) of 5.6%.
Factors contributing to this historic growth include greater investments in satellite technology, the introduction of sophisticated low earth orbit satellites, and advancements in technology.
What are the Market Size and Expected Growth Rates for the Satellites Market?
The satellites market is expected to maintain its strong growth trajectory in upcoming years.
• Predictions for the satellite market size indicate consistent expansion in the coming years, with it projected to reach $31.56 billion by 2029, translating to a compound annual growth rate (CAGR) of 4.6%.
This growth within the predicted time frame can be credited to the rising application of low earth orbit satellites across multiple sectors, burgeoning usage of lightweight substances, solid backing from the government, increased telecommunication demands, and escalating investments. Key trends for the forecast period incorporate compact satellite systems, the integration of artificial intelligence, the application of 3D printing, advanced evolution in payload systems, emphasis on sophisticated ground systems, and strategic partnerships and acquisitions.
Which Drivers Are Accelerating Growth In The Satellites Market?
The growth of the satellite market during the forecast period has been boosted by the escalating demand for Direct-To-Home (DTH) television services. The DTH service essentially provides a digital satellite service that conveys satellite television content straight to the residence of a subscriber. According to the Telecom Regulatory Authority of India (TRAI) Quarterly Indicator Report of May 2023, there was an increase in the total number of active Pay DTH subscribers from 65.58 million in September 2022 to 66.62 million in December 2022. This indicates a rise in the 3rd quarter of 2022. Featuring wireless technology, the DTH service transmits television shows directly from the satellite to the viewer's television. This led to increased demand for satellites, resulting in revenue generation and fostering the growth of the global satellite market.
How Is The Globa Satellites Market Divided Into Key Segments?
The satellites market covered in this report is segmented –
1) By Type: Large Satellite, Mini Satellite, Micro Satellite, Nano Satellite
2) By Orbit: Low Earth Orbit (LEO), Medium Earth Orbit (MEO), Geosynchronous Orbit (GEO), Elliptical Orbit
3) By Application: Scientific Research, Technology Demonstration And Verification, Earth Observation And Remote Sensing, Communication, Other Applications
4) By End User: Commercial, Civil, Government, Military, Other End Users
Subsegments:
1) By Large Satellite: Geostationary Satellites, High-Capacity Communication Satellites, Earth Observation Satellites
2) By Mini Satellite: Miniaturized Communication Satellites, Science And Research Satellites
3) By Micro Satellite: Technology Demonstration Satellites, Low Earth Orbit (LEO) Satellites For Data Collection
4) By Nano Satellite: CubeSats, PocketQubes, Educational And Experimental Satellites
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What Trends Are Reshaping The Satellites Market Landscape?
The satellites market is noticing an increased interest in hybrid DTH set-top boxes due to their introduction by DTH operators as a means to bring online content to TV screens. A notable example is the Hybrid Android set-top box, X-stream, which was launched by Bharti Airtel Limited, an Indian telecommunications company, in April 2023. The Airtel Xstream Box equipped with Android 10 is an economical choice for those seeking a streaming device that boasts the latest features. Additionally, the Xstream Box comes with Chromecast capability, enabling users to stream content from their smartphone or tablet onto their TV.
Who Are the Key Players in the Satellites Market?
Major companies operating in the satellites market include:
• Lockheed Martin Corporation
• The Boeing Company
• Thales Group
• Airbus SE
• Northrop Grumman Corporation
• OHB SE
• Israel Aerospace Industries Ltd
• ST Engineering
• NanoAvionics
• Gomspace
• Beijing Commsat Technology Development Co. Ltd
• Avasarala Technologies Limited
• Speedcast International Limited
• One Space Tech
• Land Space Technology Corporation Ltd
• ExPace Technology Corporation
• Skyroot Aerospace
• Gilmour Space Technologies
• Deep Blue Aerospace
• Mitsubishi Heavy Industries
• China Aerospace Science and Technology Corporation (CASC)
• Honeywell International Inc
• Telespazio SpA
• Raytheon
• AAC Microtec
• Thales Alenia Space
• Surrey Satellite Technology Ltd
• EnduroSat
• AAC Clyde Space
• Space Exploration Technologies Corp (SpaceX)
• Viasat Inc
• Telesat
• Starlink Satellite Constellation
• OneWeb
• Hughes Network Systems
• Innova Space
• ARSAT
• Satellogic
• Al Yah Satellite Communications (YAHSAT)
• Arabsat
• Es'hailSat
• QSAT
• Saman Satellite Communications
• DragonFly Aerospace
• Eureka Geo
• XinaBox
• Simera Sense
What are the Regional Insights into the Satellites Market?
Asia-Pacific was the largest region in the satellites market in 2024. Asia-Pacific is expected to be the fastest-growing region in the global satellites market share during the forecast period. The regions covered in the satellites market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
