Global Market for Commercial Space Payload is Anticipated to grow at a Significant Pace i.e., USD 7.8 Billion during the Forecast Period 2021-2027

Published Date: Feb, 2022

The global commercial space payload market is anticipated to grow at a 5.45% CAGR during the forecast period 2021-2027. Satellite payload is a term that refers to modules that are carried by satellites and have the ability to execute specific functions. Payloads are designed to perform certain activities such as communications, imaging, and navigation in orbit. Transponders, repeaters, antennas, spectrometers, and cameras are among the components included in a satellite's payload. Cameras, radar, and other sensing devices are used in Earth Observation and Remote Sensing applications to obtain useful data. Factors attributing to the growth of the commercial space payload market include the rising number of satellite constellations for several applications like communication technology development, Earth observation, and remote sensing, and rising deep space exploration missions. Nevertheless, the emergence of private players and start-ups in the space industry and increased demand for internet connectivity will create opportunities for growth in the commercial space payload market.

As a result of the COVID-19 epidemic, commercial space payload development and launches have been delayed, operations by the major players have halted, and components are in limited supply. Computer chip shortages caused by production shutdowns in China, South Korea, and Taiwan have also damaged the space payload market. During the epidemic, however, satellite systems were employed to provide services such as phone, data, and broadband connections around the world.

Browse 53 market data Tables and 35 Figures spread through 200 Pages and in-depth TOC on " Commercial Space Payload Market by Product (Nano and Microsatellite, Small Satellite, Medium Satellite, and Large Satellite), by Orbit (GEO, MEO, and LEO), by Application (Communication, Earth Observation and Remote Sensing, Space Exploration, and Surveillance and Reconnaissance), and Region - Global Forecast to 2027"

By application, the communication segment will contribute to the largest share during the forecast period.

Based on application, the commercial space payload market is segregated into communication, earth observation and remote sensing, space exploration, and surveillance and reconnaissance. The communication segment dominates the commercial space payload market owing to the rising trends towards channelization, internet routers in space, space-based inflatable reflector antenna, and the advancement of power amplifiers.

Global Commercial Space Payload Market Segmentation Analysis

Segment

Categorization

Leading Category

Product

Nano and Microsatellite, Small Satellite, Medium Satellite, and Large Satellite

Small Satellite (Fastest)

Orbit

GEO, MEO, and LEO

GEO (Fastest)

Application

Communication, Earth Observation and Remote Sensing, Space Exploration, and Surveillance and Reconnaissance

Communication (Largest)

Region

North America, Europe, Asia-Pacific, and Rest of the World

North America (Largest)

 

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“North America to hold the largest regional market share in 2021.”

North America dominates the commercial space payload market owing to the increased number of industry players, increased investment in commercial payload launches by government, and commercial organizations like NASA, Aerojet Rocketdyne, Ariane Group, Exotrail, Space X.

Some of the major players in the global commercial space payload market include Airbus, ArianeGroup, Lockheed Martin Corporation, BLUE ORIGIN, Capella Space, GomSpace, ONEWEB.NET, Thales Group, United Launch Alliance, LLC, and Planet Labs PBC.

Scope of the Report

Report Metric

Details

Market Size Available for the Years in the Study

2015–2027

Historical Period

2015–2020

Base Year

2020

Forecast Period

2021–2027

Segments Covered in the Study

Product, Orbit, End-User, and Region

Geographies Covered in the Study

North America (U.S., Canada, Mexico), Europe (Germany, U.K., France, Italy, Spain, Russia), Asia-Pacific (China, Japan, India, South Korea), and Rest of the World (Brazil, Saudi Arabia, South Africa, U.A.E.)

Companies Covered in the Study

Airbus, ArianeGroup, Lockheed Martin Corporation, BLUE ORIGIN, Capella Space, GomSpace, ONEWEB.NET, Thales Group, United Launch Alliance, LLC, and Planet Labs PBC

Global Commercial Space Payload Market Coverage

Product Insight and Forecast 2015-2027

  • Nano and Microsatellite
  • Small Satellite
  • Medium Satellite
  • Large Satellite

Orbit Insight and Forecast 2015-2027

  • GEO
  • MEO
  • LEO

Application Insight and Forecast 2015-2027

  • Communication
  • Earth Observation and Remote Sensing
  • Space Exploration
  • Surveillance and Reconnaissance

Geographical Segmentation

Commercial Space Payload Market by Region

North America

  • By Product
  • By Orbit
  • By Application
  • By Country – U.S., Canada, and Mexico

Europe

  • By Product
  • By Orbit
  • By Application
  • By Country – Germany, U.K., France, Italy, Spain, Russia, and Rest of Europe

Asia-Pacific (APAC)

  • By Product
  • By Orbit
  • By Application
  • By Country – China, Japan, India, South Korea, and Rest of Asia-Pacific

Rest of the World (RoW)

  • By Product
  • By Orbit
  • By Application
  • By Country – Brazil, Saudi Arabia, South Africa, U.A.E., and Other Countries