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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

Industry Insights

[231+ Pages Report] 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.

logoMarket Overview

A satellite is an object that is set on a path to orbit a certain body like the moon orbiting the earth and but usually, satellites in our lingo mean a machine that is launched into space or the topmost atmosphere for special purposes or functions. Satellites are mostly used for communication, broadcasting, and location tracking services. Increasing technological proliferation and rising demand for advanced services are expected to propel the demand for Satellite over the forecast period. Rising advancements in space technology also influence the Satellite market potential.

Increasing government expenditure on launching new satellites for surveillance and defense applications is expected to provide lucrative opportunities for Satellite manufacturers. Increasing demand for LEO satellites will also provide lucrative opportunities for Satellite companies through 2028. However, high costs of manufacturing and launch are expected to have a restraining effect on the global Satellite market potential over the forecast period.

logo Impact of COVID - 19

The sudden emergence of the COVID-19 pandemic led to major changes in the global economy and had a negative impact on almost all aspects of the world resulting in a slowdown of economic growth across multiple nations. The Satellite market also experienced a downfall in its growth trend due to the pandemic which caused the Satellite manufacturers to incur big losses. Slow economic growth and hampered manufacturing and research activity during the pandemic led to negative growth in the Satellite market.  The Satellite market is expected to make a good comeback in the post-pandemic era as the world returns to normal and lockdowns are lifted. As economic growth picks up we will see good growth in the Satellite market potential as well.

The complete research study looks at both the qualitative and quantitative aspects of the Satellite market. Both the demand and supply sides of the market have been investigated. The demand side study examines market income in various regions before comparing it to all of the major countries. The supply side research examines the industry's top rivals, as well as their regional and global presence and strategies. Each major country in North America, Europe, Asia Pacific, the Middle East and Africa, and Latin America is thoroughly investigated.

logoSegmentation Analysis

The global Satellite market is segregated based on types, end users, applications, and regions.

In terms of end users, the commercial segment is projected to account for a major market share and is anticipated to have a bright outlook through the coming years. The rising need for commercial applications such as broadcasting, communication, imaging and agricultural monitoring is expected to boost the growth in this segment and will drive demand for Satellite through 2028.  

The Communication segment is expected to have a bright outlook over the forecast period owing to the rising need for better communication facilities across the world. Increasing demand for faster and more secure satellite communication links in the defense industry is expected to be a major trend driving growth in this segment. The earth Observation and Remote Sensing segment will also see high demand as the world undergoes climate changes and in order to track these changes accurately on a global scale satellites are used and hence will drive the Satellite market growth over the forecast period.

logoReport 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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logo Regional Landscape

The region of North America accounted for a major market share in the global Satellite market landscape owing to the presence of developed infrastructure and the presence of key Satellite manufacturers. Increasing investments in defense satellites and communication satellites by the governments in this region will also boost the Satellite market growth over the forecast period. The United States is projected to emerge as the most lucrative market in this region owing to rising support from the government and increasing military spending on defense-based satellites.

In February 2021, Lockheed Martin a leading name in the aerospace and defense sector awarded a contract to California-based ABL Space Systems to develop low-cost launch infrastructure for its small satellites.

logoList of Key Players in the Global Satellite Market:

  • 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.

The Global Satellite Market is segmented as follows:

logoBy Type

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

logoBy End User

  • Commercial
  • Civil
  • Government
  • Others

logoBy Application

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

logoBy 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

Covid-19

Satellite Market

The pandemic continues to cause unprecedented disruption across industries worldwide.Get detailed insights regarding the impact of COVID-19 on the market. Request Sample

Industry Major Market Players

  • 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.

Frequently Asked Questions

The global satellite market was valued at USD 3,264.9 Million in 2021.
The global satellite market is expected to reach USD 4,763.9 Million by 2028, growing at a CAGR of 6.5% during forecast period.
Increasing government expenditure on launching new satellites for surveillance and defense applications is expected to provide lucrative opportunities for Satellite manufacturers. Increasing demand for LEO satellites will also provide lucrative opportunities for Satellite companies through 2028. However, high costs of manufacturing and launch are expected to have a restraining effect on the global Satellite market potential over the forecast period.
North American region held a substantial share of the satellite market in 2021.
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.
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