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Satellite Payloads Market Is Estimated To Boost At A CAGR of 8.92% During The Forecast Period

The satellite payloads market was dominated by Airbus Defence and Space (France), Boeing (U.S.), Thales Group (France), and Lockheed Martin Corporation (U.S.) in 2016. Airbus Defence and Space is a leading player in the satellite payloads market, considering its overall product offering and business strategy. The company has diversified product/service portfolio and focuses on entering into contracts across regions to represent and promote its inspection and mapping services for both onshore and offshore industries. In February 2017, the company has signed a contract with the German Aerospace Center (DLR) to develop and build the payload and the payload ground segment of the German input to the German-French Earth observation mission called MERLIN (Methane Remote Sensing Lidar Mission).

The global satellite payloads market is estimated to be USD 11.84 Billion in 2017 and is projected to reach USD 18.15 Billion by 2022, at a CAGR of 8.92% during the forecast period. Increased demand for hosted payloads, satellite miniaturization, and reducing costs of satellites are the key factors expected to fuel the growth of the satellite payloads market.

Based on orbit type, the LEO (Low Earth Orbit) segment is projected to lead the satellite payloads market during the forecast period. The satellite payloads designed for LEO are mainly used for earth observation, remote sensing, and mobile & telecommunication services due to lower latency.

The communication payload segment is expected to lead the satellite payloads market during the forecast period

Based on payload type, the communication payload segment is estimated to lead the satellite payloads market during the forecast period. This payload type is used for transmitting highly critical data. It is also used in the telecommunication and broadcasting industries on a larger scale.

Based on frequency band, the C, K/KU/KA band segment is projected to lead the satellite payloads market during the forecast period. C, K, Ku, & Ka bands are widely used for telecommunication and broadcast operations.

Browse In-depth Insights: http://www.marketsandmarkets.com/Market-Reports/satellite-payload-market-223389741.html

Based on application, the telecommunication segment is estimated to dominate the satellite payloads market during the forecast period. Due to the increase in research and development activities, communication-related missions are expected to offer enhanced quality communication systems with the help of highly sophisticated miniaturized on-board nano, micro, and mini subsystems.

Regional Outlook

North America is estimated to account for the largest share of the satellite payloads market in 2017

The North American region is estimated to lead the satellite payloads market in 2017. Disruptive technologies in the region’s satellite industry are transforming the way the companies do business, helping them with a competitive advantage in markets of other regions. The North American satellite payloads market is expected to witness high growth during the forecast period.

Key Companies Outlook

Key players profiled in the satellite payloads market report include Airbus Defence and Space (France), Boeing (U.S.), Thales Group (France), Lockheed Martin Corporation (U.S.), and Mitsubishi Electric Corporation (Japan), among others. Contract was among the key strategies adopted by the leading market players to sustain their position in the satellite payloads market. This strategy was adopted by companies to increase their reach and enhance their revenue and service offerings.

Boeing is another major player in the satellite payloads market with a strong service portfolio. The company is focusing on contracts to increase its service offerings and market share. In May 2016, Boeing was awarded a contract for the development of GPS 3 positioning, navigation, and timing satellites and payloads by the U.S. Air Force.

Thales Group, also one of the leading companies in the satellite payloads market, focuses on widening its product portfolio through the use of innovative designs and miniaturization. In October 2016, Thales was awarded a contract to supply a satellite navigation system called KASS (Korea Augmentation Satellite System) by the South Korean space agency KARI (Korea Aerospace Research Institute). 

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