Satellites Global Market Sees Growth Rate Of 7% Through 2022

The global satellites market size is expected to grow from $23.15 billion in 2021 to $24.86 billion in 2022 at a compound annual growth rate (CAGR) of 7.4%. The growth in the market is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The satellite market is expected to reach $31.06 billion in 2026 at a CAGR of 5.7%.

What is the Global Satellites Market?

The satellites market consists of sales of satellites by entities (organizations, sole traders or partnerships) that produce satellites. A satellite is an artificial body placed in orbit round the earth, or another planet to collect information or for communication purpose. The market includes maintenance services provided by aerospace support and auxiliary equipment manufacturers during the equipment’s warranty period. Only goods and services traded between entities or sold to end consumers are included.

Get a Sample of the global satellites market report:
https://www.thebusinessresearchcompany.com/sample.aspx?id=3699&&type=smp

What drives the Global Satellites Market?

During the forecast period, increasing demand for Direct To Home (DTH) television services globally contributed to the satellite market growth. The DTH service is basically a digital satellite service that delivers satellite television programming promptly to subscriber’s home. According to the Telecom Regulatory Authority of India (TRAI) Quarterly Indicator reports, in 2020, DTH has attained net pay active subscriber base of around 70.99 million with five pay DTH service providers. Since direct to home service employs wireless technology, the television programs are transmitted to the subscriber’s television directly from the satellite which drove the demand for satellites, which in turn fueled the revenues generated for the satellite market.

Get the full global satellites industry report here:

Global Satellites Market Segments
The global satellites market is segmented:
By Type: Large Satellite, Mini Satellite, Micro Satellite
By Orbit: Low Earth Orbit (LEO), Medium Earth Orbit (MEO), Geosynchronous Orbit (GEO), Elliptical Orbit
By End User: Commercial, Civil, Government, Others
By Application: Scientific Research, Technology Demonstration and Verification, Earth Observation and Remote Sensing, Scientific Research, Communication, Others
By Geography: The regions covered in the satellites market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

Satellites Global Market Report 2022provides market size and growth forecasts for the global satellites market, global satellites market share, satellites market segments and geographies, satellites market competitive landscape including leading competitors’ revenues, profiles and market shares. The satellites market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.

Global Satellites Industry Playersinclude Intelsat, SES S.A., Lockheed Martin Corporation, Airbus S.A.S., Millennium Space Systems Inc., Eutelsat Communications S.A., Boeing, Thales Group, Orbital Sciences Corporation, Planet Labs Inc., AAC Clyde Space, Adcole Maryland Aerospace LLC, Alen Space, Blacksky, Blue Canyon Technologies(BCT), Endursat, Exolaunch GmbH, G.A.U.S.S. Srl, Geooptics Inc, Gomspace, L3Harris Technologies Inc., Nanoavionics, Nanoracks, Viasat Inc., Telesat, EchoStar Corporation, L3 Technologies Inc., Thuraya Telecommunications Company, SKY Perfect JSAT Group, Gilat Satellite Networks and Cobham Limited. Based on industry trends and company analysis, the report explains a number of strategies for companies in the market.