Medium and Large Satellite Market Forecasts to 2030 - Global Analysis By Propulsion Type, Orbit, Mass, Payload, Band, Application, End User and By Geography

According to Stratistics MRC, the Global Medium and Large Satellite Market is accounted for $8.42 billion in 2023 and is expected to reach $13.27 billion by 2030 growing at a CAGR of 6.7% during the forecast period. The satellites are artificial satellites that have been launched into orbit. More convenience, safety, and assistance in the broadcast of entertainment programs are all provided by these satellites. Medium and large satellites have a number of benefits, including the ability to acquire service from a single provider and the ability to transmit over a wide geographic area. Additionally, it has a wide range of uses, including focusing on rural areas, long-distance telephone transmission, private commercial networks, and global mobile communication.

According to the ESA, about 2 trillion pieces of debris are 0.1 millimeters (mm) in size and 128 million pieces of debris are of 1 mm in size.

Market Dynamics:

Driver:

Increasing demand for global connectivity

Satellites provide a dependable and scalable alternative for supplying connectivity in rural and underserved areas, where there is an increasing demand on digital communication, internet access, and data services globally. A smooth and extensive coverage is made possible by medium and large satellites with high-throughput communication payloads, bridging the digital divide and connecting people in both urban and rural areas. Further driving demand for medium and large satellites as an effective and adaptable method of obtaining global connection are the maritime and aviation industries, disaster response, and emergency communications, which all depend on satellite-based communication.

Restraint:

High cost for installation and satellite components

The complexity and advanced technology involved in manufacturing satellite components, such as high-performance sensors, propulsion systems, and communication equipment, contribute to elevated production costs. Additionally, the intricate and delicate installation process further escalates expenses. As a result, the overall investment required for medium and large satellites becomes substantial, limiting market growth and accessibility for potential users and stakeholders. Mitigating these costs and exploring more cost-effective solutions will be crucial for expanding the reach and impact of satellite technology in various industries.

Opportunity:

Earth observation and climate monitoring

Satellites are essential for acquiring current data on Earth's atmosphere, oceans, and land surfaces due to growing environmental concerns and the need for precise data to address climate change. Advanced sensors on medium and large satellites allow for thorough and ongoing observation of weather patterns, natural disasters, deforestation, agriculture, and urbanization. This information is crucial for projects aimed at sustainable development, disaster management, and scientific research. The medium and large satellite industry stands to profit from expanded applications and partnerships with international environmental organizations as the demand for climate-related data and insights rises.

Threat:

Limited spectrum allocation

As the demand for satellite-based services grows, there is a finite amount of radiofrequency spectrum available for satellite communications. With an increasing number of satellites being launched and deployed, the risk of spectrum congestion arises. This can lead to interference, reduced data transmission rates, and compromised service quality. Moreover, regulatory challenges and competition for spectrum allocation from other industries, like 5G terrestrial networks, could further limit the availability of suitable frequencies for satellite operations. Addressing these spectrum allocation issues is crucial for ensuring the continued growth and sustainability of the medium and large satellite market.

COVID-19 Impact:

The COVID-19 pandemic had a mixed impact on the medium and large satellite market. While some segments, like satellite-based communication and remote sensing for disaster monitoring, experienced increased demand due to the surge in remote work and data needs, other areas faced challenges. Supply chain disruptions and manufacturing delays affected satellite production and launch schedules, leading to project delays and cost overruns. The economic downturn also caused budget constraints for some satellite operators and governments, impacting new satellite investment decisions.

The low-earth orbit (LEO) segment is expected to be the largest during the forecast period

The low-earth orbit (LEO) segment held the largest share in the market owing to the increasing demand. Satellites positioned in LEO, typically at altitudes ranging from 180 to 2,000 kilometres, offer several advantages. They enable lower latency and faster communication, making them ideal for applications like broadband internet, Earth observation, and scientific research. LEO-based satellite constellations have gained popularity due to their ability to provide global coverage, better data collection, and lower costs compared to traditional geostationary satellites. These advantages have driven increased investments and interest in LEO satellites, revolutionizing various industries and expanding satellite-based services.

The government segment is expected to have the highest CAGR during the forecast period

During the projection period, the government segment is expected to have the greatest CAGR. They are major stakeholders in the space industry, often funding and supporting satellite projects for various purposes. Governments use satellites for national security, military reconnaissance, weather forecasting, disaster management, and scientific research. They also collaborate with private companies for satellite launches and data services. Government regulations and policies heavily influence satellite operations, licensing, and spectrum allocation. Additionally, governments invest in space research and development, promoting innovation and technological advancements in the satellite market, thus fostering both public and private sector growth in this critical and rapidly evolving industry.

Region with largest share:

The North America region market is estimated to witness the highest share of the global Medium and Large Satellite market during the forecast period. The region is home to numerous established aerospace and satellite companies, as well as cutting-edge research and development institutions. With a strong emphasis on technological innovation and space exploration, North America has witnessed significant investments in satellite projects for various applications, including communication, Earth observation, navigation, and scientific research. Additionally, the presence of well-developed space infrastructure, favorable government policies, and a robust commercial space industry ecosystem contribute to North America's leadership in the satellite market, enabling the region to cater to both domestic and international satellite needs.

Region with highest CAGR:

The Asia Pacific region is expected to have the highest growth rate over the forecast period. The region's expanding economy, increasing demand for communication services, and advancements in space technology have fuelled the growth of satellite projects. Countries like China, India, Japan, and South Korea have made significant strides in space exploration, satellite manufacturing, and launch capabilities. With a focus on satellite constellations, remote sensing, and navigation systems, Asia Pacific is becoming a hub for satellite-based services in agriculture, disaster management, telecommunications, and environmental monitoring.

Key players in the market:

Some of the key players in Medium and Large Satellite market include: Airbus SAS, Gomspace, Inmarsat PLC, L3Harris Technologies Inc., Lockheed Martin Corporation, NASA, Northrop Grumman Corporation, Sierra Nevada Corporation, SpaceX, ST Engineering, Thales Group, The Boeing Company and ISRO.

Key Developments:

In July 2023, The Chandrayaan-3 mission by the Indian Space Research Organisation (ISRO) successfully lifted off from the Satish Dhawan Space Centre in Sriharikota, Andhra Pradesh. The mission follows aim to demonstrate various capabilities including reaching the orbit of the moon, making a soft-landing on the lunar surface using a lander and a rover coming out of the lander to study the surface of the moon.

In May 2023, SpaceX launched its U.S.-specific ViaSat-3 broadband satellite on a Falcon Heavy rocket. Falcon Heavy took off from east of NASA Kennedy Space Center, Florida, heading for geostationary orbit (GEO) on sixth rocket flight since 2018.

In April 2023, NASA's Lucy mission has been on an epic 6 billion kilometer journey to study the Jupiter Trojan asteroids, and nearly a year and a half after launch, it finally got a glimpse of the asteroid

In February 2023, China launched its Zhongxing-26 communications satellite into orbit, and resumed orbital launches after the Chinese New.

Propulsion Types Covered:

• Chemical Propulsion
• Electrical Propulsion

Orbits Covered:

• Low-Earth Orbit (LEO)
• Medium Earth Orbit (MEO)
• High Earth Orbit (HEO)
• Geo-Stationary Earth Orbit (GEO)

Masses Covered:

• Medium satellites (500 Kg - 1000 Kg)
• Large satellites (>1000 Kg)

Payloads Covered:

• Up to 5000 kg
• 5000 to 10000 kg
• Above 10000 kg

Bands Covered:

• X-band
• K-Band
• Ka-band
• Other Bands

Applications Covered:

• Earth Observation
• Navigation and Global Positioning
• Communication
• Other Applications

End Users Covered:

• Commercial
• Government
• Military
• Other End Users

Regions Covered:

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • Italy
  • France
  • Spain
  • Rest of Europe
• Asia Pacific
  • Japan
  • China
  • India
  • Australia
  • New Zealand
  • South Korea
  • Rest of Asia Pacific
• South America
  • Argentina
  • Brazil
  • Chile
  • Rest of South America
• Middle East & Africa
  • Saudi Arabia
  • UAE
  • Qatar
  • South Africa
  • Rest of Middle East & Africa

What our report offers:

• Market share assessments for the regional and country-level segments
• Strategic recommendations for the new entrants
• Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
• Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
• Strategic recommendations in key business segments based on the market estimations
• Competitive landscaping mapping the key common trends
• Company profiling with detailed strategies, financials, and recent developments
• Supply chain trends mapping the latest technological advancements

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All the customers of this report will be entitled to receive one of the following free customization options:

• Company Profiling
  • Comprehensive profiling of additional market players (up to 3)
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• Regional Segmentation
  • Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
  • Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances