Pune, India, Jan. 19, 2022 (GLOBE NEWSWIRE) -- The global medium and large satellite market size was USD 8.22 billion in 2020. The market is projected to grow from USD 11.21 billion in 2021 to USD 14.98 billion in 2028 at a CAGR of 4.20% in the 2021-2028 period. This information is provided by Fortune Business Insights, in its report, titled, “Medium and Large Satellite Market, 2021-2028.”
According to our researchers, the notable surge in the demand for medium and large satellites in past few years has empowered satellite producers to capitalize in the design and development of technologically progressive satellites.
Pandemic to Affect Production due to Lockdowns and Displaced Workforce
The entire globe was impacted by the COVID-19 virus and the sector of medium and large satellite was no different. Maximum of the sectors experienced an unfavorable impact of the pandemic on their businesses. Strict government regulations that were inflicted regarding ban on transportation mobility, triggered a commotion amid all industries.
Numerous original and vital product presentations were postponed owing to the COVID-19 effect. For instance, the U.S. Space Force’s Space and Missile Systems Center (SMC) reorganized the unveiling of GPS III-3, which is the GPS navigation satellite from April to June 2020, which is created by Lockheed Martin Corporation.
Get a Sample PDF Brochure on Medium and Large Satellite Market:
List of Key Players Mentioned in the Report:
- Airbus SAS (Netherlands)
- Lockheed Martin Corporation (U.S.)
- L3Harris Technologies Inc. (U.S.)
- Northrop Grumman Corporation (U.S.)
- Sierra Nevada Corporation (U.S.)
- ST Engineering (Singapore)
- The Boeing Company (U.S.)
- Thales Group (France)
Report Coverage:
The report offers a methodical study of the medium and large satellite sections and in-depth review of the overall market. A considerate assessment of the current market trends combined with the impending prospects is presented in the report. Furthermore, it offers an extensive examination of the regional aspects and how they assist in forming the market growth.
The COVID-19 influences have been discoursed in the report to aid investors and business experts with an augmented comprehension of the probable dangers present in the market. The report further converses the important players and their significant tactics to remain in the leading position
Browse Detailed Summary of Research Report with TOC:
https://www.fortunebusinessinsights.com/medium-and-large-satellite-market-106278
Segmentation:
Based on type, the market is divided into medium-sized satellite (500 to 1000 Kg Launch mass) and large satellite (More than 1000 kg Launch Mass).
On the basis of component, the market is separated into structures, payload (Data Handling and Transmission subsystem PDHT), electric power system (EPS), instrument control unit (ICU), thermal control subsystem (TCS), propulsion system, communication systems, &others (Solar Array & Drive Mechanism)
In terms of end-user, the market is branched into commercial, military, civil, & government.
Geographically, the market is segregated into North America, Europe, Asia Pacific, Rest of the World.
Drivers and Restraints:
Augmented Demand for Military Investigation and Communication Uses to Spur Growth
In the past few years, there has been excess demand of satellites communication and military inspection usages. The space agencies, governments, defense organizations, private defense dealers, and secretly space industry companies are accentuating on the improvement of the interaction network competences for public and military reconnaissance applications such as reconnaissance, intelligence, and target and data procurement uses. This is expected to bolster the medium and large satellite market growth during the forecast period.
Regional Insights:
North America to Dominate Market Share due to Increasing Expenditure Towards Space Industry
North America held the largest medium and large satellite market share and dominated in 2020. The market was worth USD 3.63 billion in 2020. Amplified expenditure on the space industry from the U.S. government, and the existence of important companies to thrust the market across the region.
Asia Pacific is anticipated to develop at the swiftest growth rate. The surging spending from the government of India, China, a well as Japan on the space sector spurs the market demand across the Asia Pacific.
Europe market is projected to develop considerably from 2020, budding capitalization on space exploration operations from the U.K, France, Germany, and other European nations sustains the market growth across Europe in the upcoming years.
Inquire Before Buying Report:
https://www.fortunebusinessinsights.com/enquiry/queries/medium-and-large-satellite-market-106278
Competitive Landscape:
Incidence of Progressive Devices to Assist Players to Inaugurate Steady Position in Market
The players are hugely emphasizing on the development of revolutionary devices and are actively getting involved into tactical mergers and collaborations in order to fortify their position in this market. Furthermore, the market is further registered by a prime percentage of small manufacturers in evolving nations, concentrating on the development of relatively low-costing gadgets.
Major Detailed Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Key Industry Developments –Mergers, Acquisitions, and Partnerships
- Latest technological Advancements
- Porters Five Forces Analysis
- Supply Chain Analysis
- Quantitative Insights- Impact of COVID-19 Pandemic on Global Medium and Large Satellite Market
- Impact of COVID-19 on Global Medium and Large Satellite Market
- Steps Taken by Industry/Companies/Governments to Overcome the Impact
- Potential Opportunities Due to COVID-19 Outbreak
TOC Continued…!
Speak to Our Expert:
Key Industry Developments:
August 2021: Lockheed Martin innovated a novel type of medium and large satellite dish with an extensive variation of applications, comprising space-grounded 5G.
Have a Look at Related Research Insights:
Satellite Communication Market Size, Share & COVID-19 Impact Analysis, By Component (Receiver, Transmitter/Transponder, Transceiver, Antenna), By Technology (VSAT, SATCOM-On-The-Move (SOTM), SATCOM-On-The-Pause (SOTP), Telemetry), By End-Use (Commercial and Government & Defense), By Platform (Portable equipment, Land equipment, Maritime equipment), and Regional Forecast, 2021-2028.
Satellite Manufacturing and Launch System Market Size, Share & COVID-19 Impact Analysis, By Type (Satellite Manufacturing and Satellite Launch Systems), By Application (Communication Satellite, Military Surveillance, Navigation Satellite, Earth Observation Satellite, and Others), By End-Use (Commercial and Military) and Regional Forecast, 2020-2027
About Us:
Fortune Business Insights™ delivers accurate data and innovative corporate analysis, helping organizations of all sizes make appropriate decisions. We tailor novel solutions for our clients, assisting them to address various challenges distinct to their businesses. Our aim is to empower them with holistic market intelligence, providing a granular overview of the market they are operating in.
Contact Us:
Fortune Business Insights™ Pvt. Ltd.
308, Supreme Headquarters,
Survey No. 36, Baner,
Pune-Bangalore Highway,
Pune - 411045, Maharashtra, India.
Phone:
U.S.:+1 424 253 0390
UK : +44 2071 939123
APAC : +91 744 740 1245
Email: sales@fortunebusinessinsights.com
