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Adoption of Satellite Payloads to Rake US$ 14.8 Bn Globally by 2022-end
Optimal selection of satellite payloads has a governing influence on maximizing the
utility of the satellite. However, manufacturers continue to struggle in development of
satellite payloads under power supply constraints associated with satellite buses. In
spite of attaining surplus investments, companies operating in the global satellite
payload market continue to rely on experimental solutions for eliminating such
shortcomings. According to Persistence Market Research, the global market for
satellite payloads is expected to witness a moderate growth in the next five years.
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The report published by Persistence Market Research projects that by the end of
forecast period, 2017-2022, the global market for satellite payloads will have
registered modest CAGR and procured a little over US$ 14.8 Bn revenues. Various
factors influencing the dynamics of global satellite payload market have been
compiled in the report, wherein rising investments in space exploration sector is
observed as key driver for the market’s growth.
The Asia-Pacific excluding Japan (APEJ) region is exhibiting growing interests in
space technology and utilization, which has contributed to the surging demand for
satellite payloads. The report projects that throughout the forecast period, the APEJ
region will dominate the global market for satellite payloads.
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The APEJ satellite payload market is anticipated to create an incremental opportunity
of US$ 780 Mn between 2017 and 2022. North America’s satellite payloads market,
on the other hand, is pegged to reflect a moderate CAGR through 2022, wherein a
few US-based space technology companies are expected to deliver astronomical
ROIs.
The report has also profiled leading players in the global satellite payload market
which include, Airbus Defense and Space, Boeing Company, Thales Group,
Lockheed Martin Corporation, Mitsubishi Electrical Corporation, Honeywell
International Inc., Harris Corporation, and Lucix Corporation.
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