How big is the Satellite Component Market?

The Satellite Component Market size is expected to reach USD 3.16 billion in 2024 and grow at a CAGR of 6.70% to reach USD 4.37 billion by 2029. Read More

What is the current Satellite Component Market size?

In 2024, the Satellite Component Market size is expected to reach USD 3.16 billion. Read More

Who are the key players in Satellite Component Market?

Lockheed Martin Corporation, Viking Satcom, Honeywell International Inc., Northrop Grumman Corporation and THALES are the major companies operating in the Satellite Component Market. Read More

Which is the fastest growing region in Satellite Component Market?

Asia-Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029). Read More

Which region has the biggest share in Satellite Component Market?

In 2024, the North America accounts for the largest market share in Satellite Component Market. Read More

What years does this Satellite Component Market cover, and what was the market size in 2023?

In 2023, the Satellite Component Market size was estimated at USD 2.95 billion. The report covers the Satellite Component Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Satellite Component Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029. Read More

Satellite Component Market Size & Share Analysis - Industry Research Report

Satellite Components Market Size & Share Analysis - Growth Trends & Forecasts (2024-2029)

The Satellite Components Market is Segmented by Component (Antennas, Power Systems, Propulsion Systems, Transponders, and Other Components) and Geography (North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa). The Report Offers Market Size and Forecast for all the Above Segments in Value (USD).

Satellite Component Industry Overview

The satellite component market is semi-consolidated, with a handful of players holding significant shares in the market. Some prominent market players are THALES, Viking Satcom, Lockheed Martin Corporation, Northrop Grumman Corporation, and Honeywell International Inc. With the growing competition, major original equipment manufacturers (OEMs) are focusing on designing and developing advanced satellite components and systems for space applications. Growing expenditure on research and development and design and development of next-generation satellite antennas, transponders, propulsion systems, and others will create better opportunities in the coming years.

For instance, in October 2021, the European Space Agency (ESA), French space agency CNES, and Thales Alenia Space, a satellite manufacturer, announced they would jointly develop a cooling system to maintain the temperature of big satellites in orbit. It will be the first mechanically pumped loop on large commercial telecommunications satellites.