Technology Research Reports Satellite Payload Market

Satellite Payload Market Analysis, Size, Growth, Share &
Forecast to 2025 | Grand View Research Inc.
“Satellite Payload Market Size Worth $21.8 Billion By 2025 | CAGR: 7.9%”
The global satellite payload market is expected to reach USD 21.8 billion by 2025, according to a new report
by Grand View Research, Inc. The market is expected to witness a CAGR of 7.9%over the forecast period,
owing to Increased government spending in space exploration activities is expected to boost the market growth
over the forecast period.
The growing popularity of communication and broadcasting services including pay TV and Over-The-Top
(OTT) have led providers to develop advanced payload systems. Moreover, the increased penetration of
payloads in the commercial sector is expected to propel the market demand.
The market is expected to witness significant growth as there has been a great rise in the ordering and
manufacturing of vast constellations of satellites for earth observation and telecommunication. Incremental
improvements in launch operations and vehicle design are enabling a reduction in time for the manufacturing
of payloads. Moreover, the evolution of small satellites is leading to the production of smaller payloads to
reduce launch costs.
The need for geospatial tracking and positioning in the commercial sector is expected to drive the demand for
satellite payloads over the forecast period. The emergence of high throughput satellites has resulted in high
data-rate satellite transmission capability, which in turn is creating new opportunities for enhanced applications
such as military, navigation, and commercial.
Browse Details of Report @ https://www.grandviewresearch.com/industry-analysis/satellite-payloads-market
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