The Satellites by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Satellites, The satellites market size has grown strongly in recent years. It will grow from $28.11 billion in 2023 to $30.04 billion in 2024 at a compound annual growth rate (CAGR) of 6.9%. The growth in the historic period can be attributed to increasing investments in satellites, launch of advanced low earth orbit satellites, and increase in technology development.
The satellites market size is expected to see strong growth in the next few years. It will grow to $36.81 billion in 2028 at a compound annual growth rate (CAGR) of 5.2%. The growth in the forecast period can be attributed to increasing adoption of low earth orbit satellites in various sectors, increasing use of lightweight materials, robust government support, growing demand for telecommunication, and increasing investments. Major trends in the forecast period include small satellites systems, use of artificial intelligence, use of 3d printing, growing advancement in payload systems, focus on advanced ground systems and strategic collaborations and acquisitions.
During the forecast period, the increase in demand for Direct-To-Home (DTH) television services contributed to the growth of the satellite market. The DTH (Direct to Home) service is basically a digital satellite service that delivers satellite television programming promptly to a subscriber’s home. As per the Telecom Regulatory Authority of India (TRAI) Quarterly Indicator Report, in Q3 of 2022, the total active subscriber base of Pay DTH increased from 65.58 million in September 2022 to 66.62 million in December 2022. Since DTH (Direct to Home) service employs wireless technology, the television programs are transmitted to the subscriber’s television directly from the satellite, which in turn drove the demand for satellites, thereby generating revenue for the growth of the global satellites market.
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The satellites market covered in this report is segmented –
1) By Type: Large Satellite, Mini Satellite, Micro Satellite, Nano Satellite
2) By Orbit: Low Earth Orbit (LEO), Medium Earth Orbit (MEO), Geosynchronous Orbit (GEO), Elliptical Orbit
3) By Application: Scientific Research, Technology Demonstration And Verification, Earth Observation And Remote Sensing, Communication, Other Applications
4) By End User: Commercial, Civil, Government, Military, Other End Users
The launch of hybrid DTH set-top boxes is gaining popularity in the satellites market. The hybrid set-top boxes are something that surfaced because of DTH operators trying to bring online content to TV screens. For instance, in April 2023, Bharti Airtel Limited, an India-based telecommunications services company, launched X-stream, Hybrid Android set-top box. The new Airtel Xstream Box with Android 10 is a good option for users who are looking for an affordable streaming device with the latest features. The Xstream Box is also Chromecast-enabled, so users can cast content from their smartphone or tablet to their TV.
The satellites market report table of contents includes:
1. Executive Summary
- Satellites Market Characteristics
- Satellites Market Trends And Strategies
- Satellites Market – Macro Economic Scenario
- Global Satellites Market Size and Growth
. - Global Satellites Market Competitive Benchmarking
- Global Satellites Market Competitive Dashboard
- Key Mergers And Acquisitions In The Satellites Market
- Satellites Market Future Outlook and Potential Analysis
- Appendix
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