Accelerating demand for satellite navigation equipment to drive the market growth – Technavio

NEW YORK, NY, November 22, 2023 /24-7PressRelease/ — The Satellite Market size is anticipated to increase by USD 14.52 billion from 2023 to 2028. Technavio’s latest market research report estimates that the satellite market will be progressing at a CAGR of almost 3.31%. The satellite market is driven by the growing need for satellite navigation equipment, primarily utilized for various mission profiles like surveillance, reconnaissance, and navigation. Satellites offer continuous area coverage and play significant roles, including early detection of intercontinental ballistic missile launches. These satellites serve both strategic and tactical purposes, aiding in monitoring enemy weapon development and pre-planning the positioning of military resources in strategic locations during potential conflicts. This report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. Buy the Full Report

Satellite Market 2024-2028: Segmentation

• End-user
o Civil
o Defense

• Type
o Large
o Medium Satellite
o Small Satellite

• Geography
o North America
o Europe
o APAC
o Middle East And Africa
o South America

There will be notable market share expansion in the civil segment during the forecast period. Satellites play a significant role in economic progress by facilitating infrastructure development for commercial enterprises, government bodies, as well as the telecommunications and space sectors. These satellites differ in frequency, orbit, and mission objectives.

Learn more about the factors assisting the growth of the market, download a free sample report

Satellite Market 2024-2028: Company Analysis and Scope

Some of the major companies of the satellite market include AAC Clyde Space AB, Airbus SE, Ball Corp., EnduroSat, Eutelsat SA, Gilat Satellite Networks Ltd., Intelsat US LLC, Kongsberg Gruppen ASA, L3Harris Technologies Inc., Leidos Holdings Inc., Lockheed Martin Corp., Maxar Technologies Inc., Mitsubishi Electric Corp., Northrop Grumman Corp., OHB SE, Raytheon Technologies Corp., Safran SA, Sierra Nevada Corp., Space Exploration Technologies Corp., Terran Orbital Corp., Thales Group, and The Boeing Co. To help businesses improve their market position, Technavio’s report provides a detailed analysis of around 25 companies operating in the market.

The report also covers the following areas:
• Satellite Market size
• Satellite Market trends
• Satellite Market industry analysis

The satellite market is fragmented, and the degree of fragmentation will accelerate. The accelerating demand for satellite navigation equipment will offer immense growth opportunities. However, the high cost of satellite hardware and components will hamper satellite market growth.

Satellite Market 2024 – 2028: Market dynamics

Leading trends influencing the market

Growing satellite-based telemetry applications is the market trend. The demand for satellite-based telemetry has increased significantly due to the necessity for a reliable telemetry infrastructure. Satellite telemetry finds extensive application across municipal, economic, governmental, and military sectors. Researchers employ satellite telemetry to monitor the movements of animals and birds on Earth, utilizing orbiting satellites to track signals transmitted from devices attached to the subjects. Additionally, the US utilizes Space-Based Infrared System (SBIRS) reconnaissance satellites to enhance its strategic capabilities in detecting ballistic missile threats.

Download the sample report now for information on the Satellite Market challenges.

Satellite Market 2024-2028: Key Highlights

• CAGR of the market during the forecast period 2024-2028
• Detailed information on factors that will assist satellite market growth during the next five years
• Estimation of the satellite market size and its contribution to the parent market
• Predictions on upcoming trends and changes in consumer behavior
• The growth of the satellite market
• Analysis of the market’s competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of satellite market vendors

Download now to uncover successful business strategies deployed by Companies of satellite market – Download Latest Free Sample Report in Minutes

Related Reports:

Satellite-Based Augmentation Systems Market: The satellite-based augmentation systems market is estimated to grow at a CAGR of 4.53% between 2022 and 2027. The size of the market is forecast to increase by USD 169.15 million.

Satellite Phone Market: The satellite phone market size is estimated to grow at a CAGR of 4.2% between 2022 and 2027. The market size is forecast to increase by USD 137.43 million.

TOC
1. Executive Summary
2. Market Landscape
3. Market Sizing
4. Historic Market Size
5. Five Forces Analysis
6. Market Segmentation by End-User
7. Market Segmentation by Type
8. Customer Landscape
9. Geographic Landscape
10. Drivers, Challenges, and Trends
11. Company Landscape
12. Company Analysis
13. Appendix

About US

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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