Medium and Large Satellite Trends and Forecast
The future of the global medium and large satellite market looks promising with opportunities in the military and civilian markets. The global medium and large satellite market is expected to reach an estimated $11.7 billion by 2030 with a CAGR of 6.8% from 2024 to 2030. The major drivers for this market are increasing demand for high-resolution imaging and growth of satellite internet services in remote and underserved regions.
• Lucintel forecasts that 500-1000 kg is expected to witness the higher growth over the forecast period.
• Within this market, military is expected to witness the higher growth.
• North America is expected to witness highest growth over the forecast period.
United States: SpaceX, through its Starlink project, aims to deploy thousands of satellites to provide global internet coverage. Recent announcements include the successful launch of new Starlink satellites and expansion plans for coverage in underserved regions.Boeing has secured contracts from both government and commercial entities for the construction and launch of medium and large satellites. Boeing aims to increase its market share in satellite manufacturing and launch services.The U.S. government has set targets to modernize its satellite infrastructure, investing in next-generation satellites for communication, Earth observation, and national security applications
India: The Indian Space Research Organisation (ISRO) has been actively involved in the development and launch of medium and large satellites for various purposes, including communication, Earth observation, and navigation. ISRO recently announced plans to launch new satellites to enhance communication capabilities and expand satellite-based services. Private companies in India, such as Antrix Corporation Limited, are partnering with international entities to enter the global satellite market. Antrix aims to increase its market presence and revenue by offering satellite launch and satellite-based services. The Indian government has set targets to increase the adoption of satellite technology in sectors such as agriculture, disaster management, and urban planning, aiming to leverage satellite data for socioeconomic development.
A more than 150-page report is developed to help in your business decisions. Sample figures with some insights are shown below.
Medium and Large Satellite by Segment
The study includes a forecast for the global medium and large satellite by type, application, and region.
Medium and Large Satellite Market by Type [Shipment Analysis by Value from 2018 to 2030]:
• 500-1000 Kg
• More Than 1000 Kg
Medium and Large Satellite Market by Application [Shipment Analysis by Value from 2018 to 2030]:
• Military
• Civilian
Medium and Large Satellite Market by Region [Shipment Analysis by Value from 2018 to 2030]:
• North America
• Europe
• Asia Pacific
• The Rest of the World
List of Medium and Large Satellite Companies
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies medium and large satellite companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the medium and large satellite companies profiled in this report include-
• Lockheed Martin
• Boeing Defense
• Space & Security
• OHB
• JSC Information Satellite Systems
• Northrop Grumman
• Space Systems/Loral
Recent Development in the Medium and Large Satellite Market
SpaceX: SpaceX has been making significant strides in the medium and large satellite market with its Starlink project. Starlink aims to provide global satellite internet coverage using a constellation of thousands of satellites in low Earth orbit. Recent initiatives include the deployment of additional Starlink satellites and the expansion of beta testing programs to more regions worldwide. SpaceXÄX%$%Xs ambitious plans have garnered attention and investment from various stakeholders, reshaping the landscape of satellite-based internet connectivity.
Boeing: Boeing is a major player in the medium and large satellite market, providing satellite manufacturing and launch services. Recent developments include contracts for the construction of next-generation satellites with advanced capabilities, such as high-resolution imaging and broadband communication. BoeingÄX%$%Xs focus on innovation and collaboration with government and commercial partners underscores its commitment to driving progress in the satellite industry.
Airbus Defence and Space: Airbus Defence and Space is another prominent company in the medium and large satellite market, offering a wide range of satellite solutions for communication, Earth observation, and navigation. Recent initiatives include the development of next-generation satellite platforms with improved performance and efficiency. AirbusÄX%$%Xs emphasis on sustainability and environmental responsibility in satellite manufacturing and operations aligns with industry trends towards more eco-friendly space technologies.
OneWeb: OneWeb is a rising star in the medium and large satellite market, aiming to deploy a constellation of low Earth orbit satellites to provide global broadband connectivity. Despite facing financial challenges in the past, OneWeb has secured new funding and restarted satellite launches, signaling its determination to compete in the increasingly crowded satellite internet space. OneWebÄX%$%Xs focus on bridging the digital divide and connecting underserved communities resonates with the growing demand for universal internet access.
Features of the Global Medium and Large Satellite Market
Market Size Estimates: Medium and large satellite market size estimation in terms of value ($B).
Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.
Segmentation Analysis: Medium and large satellite market size by type, application, and region in terms of value ($B).
Regional Analysis: Medium and large satellite market breakdown by North America, Europe, Asia Pacific, and Rest of the World.
Growth Opportunities: Analysis of growth opportunities in different types, applications, and regions for the medium and large satellite market.
Strategic Analysis: This includes M&A, new product development, and competitive landscape of the medium and large satellite market.
Analysis of competitive intensity of the industry based on Porter’s Five Forces model.
FAQ
Q1. What is the medium and large satellite market size?
Answer: The global medium and large satellite market is expected to reach an estimated $11.7 billion by 2030.
Q2. What is the growth forecast for medium and large satellite market?
Answer: The global medium and large satellite market is expected to grow with a CAGR of 6.8% from 2024 to 2030.
Q3. What are the major drivers influencing the growth of the medium and large satellite market?
Answer: The major drivers for this market are increasing demand for high-resolution imaging and growth of satellite internet services in remote and underserved regions.
Q4. What are the major segments for medium and large satellite market?
Answer: The future of the medium and large satellite market looks promising with opportunities in the military and civilian markets.
Q5. Who are the key medium and large satellite market companies?
Answer: Some of the key medium and large satellite companies are as follows:
• Lockheed Martin
• Boeing Defense
• Space & Security
• OHB
• JSC Information Satellite Systems
• Northrop Grumman
• Space Systems/Loral
Q6. Which medium and large satellite market segment will be the largest in future?
Answer: Lucintel forecasts that 500-1000 kg is expected to witness the higher growth over the forecast period.
Q7. In medium and large satellite market, which region is expected to be the largest in next 5 years?
Answer: North America is expected to witness highest growth over the forecast period.
Q8. Do we receive customization in this report?
Answer: Yes, Lucintel provides 10% customization without any additional cost.
This report answers following 11 key questions:
Q.1. What are some of the most promising, high-growth opportunities for the medium and large satellite market by type (500-1000 kg and more than 1000 kg), application (military and civilian), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?
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