How big is the Satellite Payload Market?

The Satellite Payload Market size is expected to reach USD 16.27 billion in 2024 and grow at a CAGR of 8.54% to reach USD 24.51 billion by 2029. Read More

What is the current Satellite Payload Market size?

In 2024, the Satellite Payload Market size is expected to reach USD 16.27 billion. Read More

Who are the key players in Satellite Payload Market?

Lockheed Martin Corporation, Northrop Grumman Corporation, THALES, L3Harris Technologies Inc. and RTX Corporation are the major companies operating in the Satellite Payload Market. Read More

Which is the fastest growing region in Satellite Payload 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 Payload Market?

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

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

In 2023, the Satellite Payload Market size was estimated at USD 14.88 billion. The report covers the Satellite Payload Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Satellite Payload Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029. Read More

Satellite Payload Market Size & Share Analysis - Industry Research Report

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

The Satellite Payload Market Market is Segmented by Payload Type (Communication, Navigation, Imaging, and Others), Orbit (GEO, MEO, and LEO), End-Use (Commercial and Military), Application (Weather Monitoring, Telecommunication, Surveillance, Scientific Research, and Other Applications), 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 Payload Industry Overview

The satellite payload market is moderately consolidated in nature, with the presence of a few players holding significant shares in the market. Some of the key players in the market are RTX Corporation, Northrop Grumman Corporation, Lockheed Martin Corporation, THALES, L3Harris Technologies Inc., and others.

The key OEMs highly invest in research and development and innovative technologies. On this note, in July 2022, Digantara, an India-based space situational awareness company, announced its space weather monitoring payload ROBI is operational onboard a spent upper stage of India's Polar Satellite Launch Vehicle. The company said that the experimental payload successfully shared data from PSLV's Orbital Experimental Platform (POEM), which was launched in June 2022. Such developments from key players will boost market growth in the coming years.