The global satellite payload market is expected to show moderate growth over the next five years.
SHERIDAN, WYOMING, USA, November 28, 2021 /EINPresswire.com/ – According to IMARC Group’s latest report titled âSatellite Payload Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027â, on market is currently experiencing strong growth. The global satellite payload market is expected to show moderate growth over the next five years. Satellite payloads are the main functional and operational components of the satellite assembly process. They provide communication capabilities while the satellite is in orbit and have independent communication circuits and operating systems. Satellite payloads improve the maximum utility capacity of a satellite. As such, they are widely used in navigation, communication, space exploration, imaging, and other applications.
As the novel coronavirus (COVID-19) crisis sweeps the world, we are continuously monitoring changes in the markets, as well as consumer buying behaviors around the world and our estimates on the latest market trends and forecasts are carried out after examining the impact of this pandemic.
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The expansion of the aerospace industry across the globe is one of the key drivers in the satellite payload market. Additionally, the growing demand for low Earth orbit (LEO) imaging and Earth observation payloads is further catalyzing the growth of the market. In addition to this, the increasing use of satellite payloads to generate images of water resources, land and forests that are needed to track climate change, monitor farmland, mitigate disasters, etc. as another important factor of growth. At the same time, the growing need for advanced reconnaissance, intelligence gathering and imagery technologies for aerial surveillance is also increasing the global market. Apart from this, various innovations in space technologies, such as the development of radio payloads integrated with artificial intelligence (AI) and cloud-enabled software to improve flexibility during space missions, are expected to fuel the satellite payload market over the forecast period. period.
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Competitive landscape with key players:
The report also analyzed the competitive landscape of the market with some of the major players being.
â¢ Airbus SE
â¢ Gomspace A / S
â¢ Honeywell International Inc.
â¢ L3harris Technologies Inc.
â¢ Lockheed Martin Company
â¢ Maxar Technologies inc.
â¢ Mitsubishi Electric Corporation
â¢ Northrop Grumman Company
â¢ Sierra Nevada Company
â¢ Thales Group
â¢ The aerospace company
â¢ The Boeing company
Segmentation of the satellite payload market:
Our report has categorized the market on the basis of region, type, orbit, frequency band, application, and end-use industry.
Breakdown by type:
â¢ Low Earth Orbit (LEO)
â¢ Medium Earth Orbit (MEO)
â¢ Geostationary Earth Orbit (GEO)
â¢ Beyond the geosynchronous orbit
Distribution by frequency band:
â¢ Band C, K / KU / KA
â¢ S and L band
â¢ X band
â¢ VHF and UHF band
Breakdown by application:
â¢ Earth observation and remote sensing
â¢ Satellite communication
â¢ Science and exploration
â¢ Cartography and navigation
â¢ Space observation
Breakdown by end user:
â¢ Government and military
Breakdown by region:
â¢ North America (United States, Canada)
â¢ Europe (Germany, France, United Kingdom, Italy, Spain, others)
â¢ Asia-Pacific (China, Japan, India, Australia, Indonesia, Korea, others)
â¢ Latin America (Brazil, Mexico, others)
â¢ Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, others)
Highlights of the report:
â¢ Market performance (2016-2021)
â¢ Market outlook (2022-2027)
â¢ Porter’s five forces analysis
â¢ Market drivers and success factors
â¢ SWOT analysis
â¢ Value chain
â¢ Complete mapping of the competitive landscape
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