Satellite Payload Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032

Satellite Payload Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032

Growth Factors of Satellite Payload Market


The satellite payload market size was valued at USD 9.25 billion in 2023, and the market is now projected to grow from USD 10.73 billion in 2024 to USD 16.04 billion by 2032, exhibiting a CAGR of 5.2% during the forecast period of 2024-2032.

Covid-19 negatively impacted the market. Many raw materials, different parts of the satellites were not able to manufacture and assembling of the those parts as there were transportation restrictions and limitations due lockdown. Some projects also came to halt which led to loss and bankruptcy filed by companies. These factors affected the satellite payload market growth.

The equipment gathers information regarding the weatherforecast, telecommunications and earth observation. It uses the sensors which helps in making reasoned decision by transmitting the important information to earth in real-time.

Satellite payload with software defined capability are commanded from ground stations. It consists of operating processor and AI based payload which in turn boost the market by letting the satellite update and configure itself without much hassle.

Comprehensive Analysis of Satellite Payload Market

Satellite payload market is divided into five segments that are type analysis which consists of navigation, communication, imaging, and others. By vehicle analysis includes small and medium-to-heavy. By orbit analysis which includes MEO, GEO and LEO. By Application analysis consisting of scientific research, telecommunication, surveillance and weather monitoring.And by end use analysis which includes commercial and military.

North America holds the largest satellite payload market share in the world. The market in this region valued at USD 4.19 billion in 2023. This is due to the initiative taken by government in making the investments in the market.

The top most players in the market which helps in increasing the market share and sustainability both are Airbus S.A.S (Netherlands), L3Harries Technologies (U.S.), Lockheed Martin Corporation (U.S.), Maxar Technologies (U.S.), Northrop Grumman Corporation (U.S.), Sierra Nevada Corporation (U.S.), SpaceX (U.S.), ST Engineering (Singapore), Thales Group (France), and The Boeing Company (U.S.).

In December 2023, Thales and Leonardo joined hands to formthales Alenia Space, a selected the U.K.’s National Satellite Test Facility (NSTF) at RAL Space in Oxfordshire to comprehend the health and productivity of Earth's vegetation globally.

Segmentation Table

Attribute Details

Study Period 2019-2032

Base Year 2023

Estimated Year 2023

Forecast Period 2024-2032

Historical Period 2019-2022

Growth Rate CAGR of 5.2% from 2024 to 2032

Unit Value (USD Billion)

Segmentation By Payload Type

Communication

Imaging

Navigation

Others

By Vehicle Type

Small

Medium-to-heavy

By Orbit

LEO

GEO

MEO

By Application

Weather Monitoring

Telecommunication

Scientific Research

Surveillance

Others

By End-Use

Commercial

Military

By Geography

North America (By Payload Type, By Vehicle Type, By Orbit, By Application, By End-Use, and By Country)

○ U.S. (By PayloadType)

○ Canada (By Payload Type)

Europe (By Payload Type, By Vehicle Type, By Orbit, By Application, By End-Use, and By Country)

○ U.K. (By Payload Type)

○ Germany (By PayloadType)

○ France (By Payload Type)

○ Italy (By Payload Type)

○ Rest of Europe (By Payload Type)

Asia Pacific (By Payload Type, By Vehicle Type, By Orbit, By Application, By End-Use, and By Country)

○ Japan (By PayloadType)

○ China (By PayloadType)

○ India (By PayloadType)

○ Australia (By PayloadType)

○ Rest of Asia Pacific (By PayloadType)

Rest of the World (By Payload Type, By Vehicle Type, By Orbit, By Application, By End-Use, and By Sub-Region)

○ Latin America (By Payload Type)

Middle East & Africa (By Payload Type)