Global Satellite Market Share Is Likely To Reach At A CAGR Value Of Around 6.5% By 2028

26-Jul-2022 | Facts and Factors

According to Facts and Factors, the global Satellite market size was valued at USD 3,264.9 million in 2021 and is predicted to increase at a CAGR of 6.5% to USD 4,763.9 million by 2028. The study examines the market in terms of revenue in each of the major regions, which are classified into countries.

Global Satellite Market Size

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Rising technological proliferation has also influenced the demand for satellite services and hence is driving the Satellite market potential across the world. Satellites are usually man made machines that are set to orbit the earth from space and provide desired functionality as well. Satellites are major utilized for broadcasting, communications, observation, and imaging purposes. As technology is advancing the scope of application of satellites has substantially increased and is projected to rise over the forecast period as well.

Browse the full “ Satellite Market Size, Share, Growth Analysis Report By Type (Large Satellite, Mini Satellite, Micro Satellite, Nano Satellite, By End User (Commercial, Civil, Government, Others), By Application (Scientific Research, Technology Demonstration and Verification, Earth Observation and Remote Sensing, Scientific Research, Communication), and By Region - Global Industry Insights, Comparative Analysis, Trends, Statistical Research, Market Intelligence, and Forecast 2022 – 2028" report at https://www.fnfresearch.com/satellite-market

The rising demand for better and secure satellite communications in the defense industry is expected to provide lucrative opportunities for Satellite manufacturers and is anticipated to boost market potential over the coming years. Increasing government spending is also expected to positively boost Satellite market growth through 2028.  However, high costs associated with manufacturing and launching these satellites are anticipated to have a hindering effect on the global Satellite market potential.

Segmental Overview

In terms of end-user, the commercial segment is projected to account for a dominant outlook in the years to come. This can be attributed to the rising demand for satellite-based commercial applications such as high-speed live broadcasts, communication, imaging, monitoring, and observation. However, the government segment is expected to see a rise in market share owing to an increase in government spending for satellite launches and manufacturing.

The Observation and Remote Sensing segment is predicted to see good growth in demand over the forecast period as the focus on remote technologies increases. The rising incidence of natural calamities and increasing need for observation of changing climate trends are projected to drive demand in this segment through 2028.

Regional Overview

The North American satellite market is expected to lead the global satellite industry owing to rising investments in the development of satellites and the presence of key manufacturers. Increasing investments in the technology sector by the governments are also expected to positively impact the Satellite market potential over the forecast period. Increasing spending on defense satellites and rising focus on advanced technologies will also boost demand for satellites in this region. The United States will be the most notable market in this region owing to its rapid adoption of novel technologies and high defense spending potential. In September 2020, The Space Development Agency (SDA) announced that it had awarded a contract for Space Transport Layer to aerospace giant Lockheed Martin which was aimed at demonstrating a mesh network containing 10 small satellites that will be crucial in terrestrial warfighting with satellite links.

Report Scope

Report Attribute

Details

Market Size in 2021

USD 3,264.9 Million

Projected Market Size in 2028

USD 4,763.9 Million

CAGR Growth Rate

6.5% CAGR

Base Year

2021

Forecast Years

2022-2028

Key Market Players

SES S.A., Eutesat Communications S.A., Lockheed Martin Corporation, Airbus S.A.S., Boeing, Thales Group, Orbital Sciences Corporation, Planet Labs Inc., Millennium Space Systems, Inc., and Others

Key Segment

By Types, End User, Applications, and Region

Major Regions Covered

North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa

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Competitive Landscape

The report contains qualitative and quantitative research on the global Satellite Market, as well as detailed insights and development strategies employed by the leading competitors. The report also provides an in-depth analysis of the market's main competitors, as well as information on their competitiveness. The research also identifies and analyses important business strategies used by these main market players, such as mergers and acquisitions (M&A), affiliations, collaborations, and contracts. The study examines, among other things, each company's global presence, competitors, service offers, and standards.

Some of the major companies operating in the satellite market are Intelsat, SES S.A., Eutesat Communications S.A., Lockheed Martin Corporation, Airbus S.A.S., Boeing, Thales Group, Orbital Sciences Corporation, Planet Labs Inc., Millennium Space Systems, Inc., and others.

The Global Satellite Market is segmented as follows:

By Type

  • Large Satellite
  • Mini Satellite
  • Micro Satellite
  • Nano Satellite

By End User

  • Commercial
  • Civil
  • Government
  • Others

By Application

  • Scientific Research
  • Technology Demonstration and Verification
  • Earth Observation and Remote Sensing
  • Scientific Research
  • Communication

By Region

  • North America
    • The U.S.
    • Canada
    • Mexico
  • Europe
    • France
    • The UK
    • Spain
    • Germany
    • Italy
    • Nordic Countries
      • Denmark
      • Sweden
      • Norway
    • Benelux Union
      • Belgium
      • The Netherlands
      • Luxembourg
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • Australia
    • South Korea
    • Southeast Asia
      • Indonesia
      • Thailand
      • Malaysia
      • Singapore
      • Rest of Southeast Asia
    • Rest of Asia Pacific
  • The Middle East & Africa
    • Saudi Arabia
    • UAE
    • Egypt
    • South Africa
    • Rest of the Middle East & Africa
  • Latin America
    • Brazil
    • Argentina
    • Rest of Latin America

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