Key Players in the satellite payload market are Airbus Group, Raytheon Company, Thales Group, Lockheed Martin Corporation, Honeywell International Inc., Harris Corporation, Boeing, ViaSat Inc., Space Exploration Technologies Corp., Space Systems/Loral, LLC, ISRO and among others.
LEO Segment to Dominate Backed by Rising Usage in Various Applications
Based on orbit type, the market is grouped into medium Earth orbit (MEO), low earth orbit (LEO), and geostationary equatorial orbit (GEO). Out of these, the LEO segment is expected to dominate the market stoked by its extensive usage in a variety of applications, such as remote sensing services and telecommunication services. These satellites are used to observe the updated information on the earth’s surface. A few of the other additional advantages of the payload are in-orbit data, practical space quality, and mission survival capability. During aeronautical missions, the GEO and LEO hosted payloads are mainly used.
The report provides a 360-degree overview of the market, listing various factors restricting, propelling, and obstructing the market in the forecast duration. The report also provides additional information such as interesting insights, key industry developments, detailed segmentation of the market, list of prominent players operating in the market, and other Satellite Payload trends. The report is available for sale on the company website. The global satellite payload market is expected to gain momentum from the increasing development of various end user applications, namely, navigation, remote sensing, and telecommunications.
What Does This Report Contain?
- Detailed information about the current and emerging satellite payload market trends and dynamics.
- Extensive analysis of the competitive landscape consisting of mergers and acquisitions, new contracts, agreements, new product launches, and strategic partnerships.
- Insightful analysis of the market across five key segments.
- Elaborate details about the cost structure, raw material strategy profiling, and pricing analysis.
Get Sample PDF Brochure with Impact of COVID-19 Analysis: https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/satellite-payload-market-101829
Adoption of Unique Satellite Connectivity Technologies to Favor Growth in North America
In terms of region, the market is segregated into Asia Pacific, North America, the Middle East and Africa, South America, and Europe. Out of these regions, North America is projected to lead by gaining the maximum satellite payload market revenue during the forecast period. This growth is attributable to the early adoption of novel technologies, such as software-defined payloads for communication satellites. In Canada and the U.S., many businesses are seeking to smoothen their aeronautical operations. To do so, they are adopting state-of-the-art satellite connectivity technologies. Apart from that, the region houses several industry giants, namely, Honeywell International Inc., The Lockheed Martin Corporation, and Raytheon Company. These companies are investing huge sums in developing modern technologies and in utilizing useful analytical tools in space exploration and satellites. It would also contribute to the growth of the market in this region.
Asia Pacific, on the other hand, is expected to showcase a remarkable growth in the coming years owing to the increasing expenditure on earth observation and telecommunication satellites in countries, such as China. Besides, India is set to grow at a fast pace, backed by the presence of numerous private key players in the country, as well as the persistent efforts by the government to propel the space sector.
Space Norway Bags Contract from Northrop Grumman; Lockheed Martin Delivers GPS III COps
The companies present in the market are engaging in bagging orders from other mammoth companies and are investing huge sums for the development of new products. These strategies would not only help them in gaining a competitive edge but would also aid them in achieving the maximum satellite payload market share during the forthcoming years. Below are some of the most recent industry developments:
- July 2019: Space Norway awarded a lucrative multi-spacecraft contract to Northrop Grumman, a global aerospace and defense technology company, headquartered in the U.S. This contract would enable the former to provide its Arctic Satellite Broadband Mission (ASBM) system, while Northrop would integrate, manufacture, and design two satellites. However, the company would also deliver crucial ground infrastructure for Space Norway. The satellites would carry a Ka-Band payload for Inmarsat and an X-Band payload for the Norwegian Ministry of Defense.
- May 2019: Lockheed Martin, an American global aerospace, defense, security, and advanced technologies company, announced that it has delivered an upgraded version of GPS III Contingency Operations (COps) software to the U.S. Air Force’s pre-existing GPS ground control system. The upgrade would allow the Air Force to begin commanding the next-generation, advanced GPS III satellites.
Get your Customized Research Report:- https://www.fortunebusinessinsights.com/industry-reports/satellite-payload-market-101829
Fortune Business Insights™ presents a list of the most renowned organizations operating in the satellite payload market. They are as follows:
- Space Exploration Technologies Corp.
- Airbus Group
- ViaSat Inc.
- Raytheon Company
- Honeywell International Inc.
- Thales Group
- Space Systems/Loral, LLC
- Lockheed Martin Corporation
- Harris Corporation
- Other key market players
Fortune Business Insights™ offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them to address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in.
Our reports contain a unique mix of tangible insights and qualitative analysis to help companies achieve sustainable growth. Our team of experienced analysts and consultants use industry-leading research tools and techniques to compile comprehensive market studies, interspersed with relevant data.
At Fortune Business Insights™, we aim at highlighting the most lucrative growth opportunities for our clients. We, therefore, offer recommendations, making it easier for them to navigate through technological and market-related changes. Our consulting services are designed to help organizations identify hidden opportunities and understand prevailing competitive challenges.
Fortune Business Insights™ Pvt. Ltd.
308, Supreme Headquarters,
Survey No. 36, Baner,
Pune – 411045, Maharashtra, India.
US: +1 424 253 0390
UK: +44 2071 939123
APAC: +91 744 740 1245
Email: [email protected]