SAN FRANCISCO, Oct. 22, 2021 /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "Satellite Payloads - Global Market Trajectory & Analytics." The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.
FACTS AT A GLANCE
Edition: 7; Released: April 2021
Executive Pool: 5246
Companies: 46 - Players covered include Airbus Group; Boeing Company, The; Harris Corporation; Honeywell International, Inc.; Lockheed Martin Corporation; Raytheon Company; Space Exploration Technologies Corporation; SSL, a Maxar Technologies company; Thales Group; ViaSat, Inc. and Others.
Coverage: All major geographies and key segments
Segments: End-Use (Commercial, Civil, Military); Orbit Type (LEO, MEO, GEO)
Geographies: World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; and Rest of Europe); Asia-Pacific; Rest of World.
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Global Satellite Payloads Market to Reach $21.2 Billion by 2026
Amid the COVID-19 crisis, the global market for Satellite Payloads estimated at US$13.6 Billion in the year 2020, is projected to reach a revised size of US$21.2 Billion by 2026, growing at a CAGR of 7.5% over the analysis period. LEO, one of the segments analyzed in the report, is projected to record a 7.2% CAGR and reach US$10.9 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the MEO segment is readjusted to a revised 6.4% CAGR for the next 7-year period.
The U.S. Market is Estimated at $4.4 Billion in 2021, While China is Forecast to Reach $3.7 Billion by 2026
The Satellite Payloads market in the U.S. is estimated at US$4.4 Billion in the year 2021. China, the world`s second largest economy, is forecast to reach a projected market size of US$3.7 Billion by the year 2026 trailing a CAGR of 7% over the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 7% and 6% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 6.1% CAGR.
GEO Segment to Reach US$5.1 Billion by the year 2026
In the global GEO segment, USA, Canada, Japan, China and Europe will drive the 9.6% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$2.3 Billion in the year 2020 will reach a projected size of US$4.4 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. More
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