PUBLISHER: The Business Research Company | PRODUCT CODE: 1464136
PUBLISHER: The Business Research Company | PRODUCT CODE: 1464136
Medium and large satellites are man-made objects or vehicles placed into orbit around celestial bodies, such as Earth or other planets. Medium satellites typically weigh between 500 kilograms (approximately 1,100 pounds) to 1,000 kilograms (about 2,200 pounds), while large satellites are generally classified as weighing more than 1,000 kilograms. These satellites are engineered to perform various tasks, including providing communication services, monitoring navigation, and offering high-bandwidth data connectivity to service providers, government agencies, commercial enterprises, and other entities.
The primary types of propulsion for medium and large satellites are chemical propulsion and electrical propulsion. Chemical propulsion involves using chemical reactions to release energy and accelerate gases, generating thrust for spacecraft propulsion. These satellites are deployed into various orbits such as Low Earth Orbit (LEO), Medium Earth Orbit (MEO), Geostationary Orbit (GEO), and others, serving purposes such as earth observation, navigation and global positioning, communication, and more. The end-users of these satellites include commercial entities, government agencies, and military applications.
The medium and large satellite market research report is one of a series of new reports from The Business Research Company that provides medium and large satellite market statistics, including medium and large satellite industry global market size, regional shares, competitors with an medium and large satellite market share, detailed medium and large satellite market segments, market trends and opportunities, and any further data you may need to thrive in the medium and large satellite industry. This medium and large satellite market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The medium and large satellite market size has grown strongly in recent years. It will grow from $203.36 billion in 2023 to $214.6 billion in 2024 at a compound annual growth rate (CAGR) of 5.5%. The growth observed in the historical period can be attributed to several factors, including the increasing demand for military reconnaissance and communication applications, a rising need for medium and large satellites within the space industry, an increased demand for satellite-based services, growing investments in the space industry, and an escalating demand for broadband internet access. These factors collectively contributed to the growth of medium and large satellites during that period.
The medium and large satellite market size is expected to see steady growth in the next few years. It will grow to $253.2 billion in 2028 at a compound annual growth rate (CAGR) of 4.2%. The anticipated growth in the forecast period can be attributed to various factors, including the increasing utility of satellite imaging for homeland security and defense, a growing demand for high-speed internet, the need for enhanced communication infrastructure, a rising demand for high-resolution imaging capabilities in applications such as earth observation and agriculture, and an increasing requirement for remote sensing applications. Major trends expected in the forecast period include the development of 3D printed lightweight satellite components, the miniaturization of satellites, the utilization of high-throughput satellites, the establishment of inter-satellite communication networks, and the advancement of next-generation communication satellites.
The increasing demand for improved communication infrastructure is anticipated to drive the growth of the medium and large satellite market. Communication infrastructure forms the foundation of communication systems, incorporating various networks and technologies that facilitate the seamless exchange of information. The continuous advancement of technology, including the emergence of the Internet of Things (IoT), artificial intelligence, and 5G networks, necessitates a robust communication infrastructure. This infrastructure plays a pivotal role in enabling fast and reliable data transmission between satellites and ground stations, facilitating real-time monitoring and control of satellite operations. In 2022, the GSM Association reported that the number of mobile internet users reached 4.3 billion by the end of 2021, indicating an increase of nearly 300 million from the previous year-end. The growing demand for enhanced communication infrastructure is a key driver propelling the growth of the medium and large satellite market.
Leading companies in the medium and large satellite market are actively focusing on developing new technologies to advance their service offerings. Ground-to-satellite connectivity, a communication link between ground stations on Earth and satellites in space, is a notable feature being integrated into satellites. In January 2023, Qualcomm Technologies, Inc., a US-based manufacturer of digital wireless telecommunication products and services, introduced Snapdragon Satellite. This innovative solution represents the world's first satellite-based two-way messaging system for luxury smartphones. Powered by Snapdragon 5G Modem-RF Systems and supported by the fully operational Iridium satellite constellation, Snapdragon Satellite is expected to provide global access for mobile messaging from any location worldwide.
In January 2024, Airbus SE, a Netherlands-based commercial aircraft manufacturing company, successfully acquired Eutelsat OneWeb for an undisclosed amount. This strategic acquisition is poised to strengthen Airbus's position in the medium and large satellite market, enabling the company to focus on maximizing efficiency and enhancing competitiveness in the production of satellites for institutional, national security, and commercial space customers. Eutelsat OneWeb, the acquired entity, is a UK-based company offering a diverse range of satellite communication services, including video broadcasting, satellite newsgathering, broadband services, data connectivity, and connections for airplanes and ships.
Major companies operating in the medium and large satellite market report are The Boeing Company, The Lockheed Martin Corporation, Airbus SE, China Aerospace Science and Technology Corporation, Northrop Grumman Corporation, Mitsubishi Electric Corporation, National Aeronautics and Space Administration, Safran Electronics & Defense, Thales Group, L3Harris Technologies Inc., Singapore Technologies Engineering Ltd., Israel Aerospace Industries, Space Exploration Technologies Corp., Honeywell Aerospace Technologies, EchoStar Corporation, Sierra Nevada Corporation, DigitalGlobe, Maxar Technologies Inc., RUAG Space, OHB SE, Rocket Lab USA Inc., Arianespace SA, UrtheCast, AMOS Spacecom, Ball Aerospace & Technologies Corp., GomSpace Aps, Surrey Satellite Technology Ltd
North America was the largest region in the medium and large satellite market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the medium and large satellite market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the medium and large satellite market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The medium and large satellite market consists of sales of communication satellites, earth observation satellites, scientific research satellites, defense and intelligence satellites. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from goods and/or services sold within the specified market and geography through sales, grants, or donations in terms of currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values - that is, they are revenues generated by organizations in the specified geography within the specified market, irrespective of where they are produced. It does not include revenues from resales either further along the supply chain or as part of other products.
Medium And Large Satellite Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on medium and large satellite market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for medium and large satellite ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The medium and large satellite market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.