According to the new market research report “Satellite- Global Market Share and Ranking, Overall Sales and Demand Forecast 2024-2030”, published by QYResearch, the global Satellite market size is projected to reach USD 20.92 billion by 2030, at a CAGR of 16.1% during the forecast period.
- Global Satellite MarketSize(US$ Million), 2019-2030
Source: QYResearch, "Satellite- Global Market Share and Ranking, Overall Sales and Demand Forecast 2024-2030”
- Global Satellite Top14Players Ranking and Market Share (Ranking is based on the revenue of 2023, continually updated)
Source: QYResearch, "Satellite- Global Market Share and Ranking, Overall Sales and Demand Forecast 2024-2030”
According to QYResearch Top Players Research Center, the global key manufacturers of Satellite include SpaceX, Thales Alenia Space, CASC, Lockheed Martin, Eutelsat Group, Boeing Defense, Space & Security, Planet Labs, Northrop Grumman, Raytheon (Blue Canyon Technologies), ISS-Reshetnev Company, etc. In 2023, the global top 10 players had a share approximately 65.0% in terms of revenue.
Market Drivers:
D1: The growing of ICT market in Emerging markets will urge the growth of satellite market
D2: The emerging of mobile connectivity is also an opportunity for satellite services to be a part and then get benefits from that.
D3: The Internet of Things (IoT) is a burgeoning paradigm that points out a novel direction of future internet, in which numerous heterogeneous networks containing different user data will be integrated transparently and seamlessly through appropriate protocol stacks.
This integration aims to enable anything with a transceiver to access Internet at all times and places.
Moreover, through those easy accesses, various kinds of IoT devices such as, environmental monitoring sensors, smart household electrical appliances, actuators, vehicles, etc., can exchange data with the IoT networks and provide unprecedented services for private users, business users, government users, army and anyone who utilize IoT. The obvious applications of the IoT will be visible for individual needs such as e-health, home automation, and elderly assistance as well as for industrial needs like smart grid, business management, environmental monitoring and smart city.
To solve the covering problem, satellite communication for IoT comes into view.
D4: The rise of Earth-orbiting satellites.
A low Earth orbit requires the lowest amount of energy for satellite placement. It provides high bandwidth and low communication latency. Satellites and space stations in LEO are more accessible for crew and servicing. Since it requires less energy to place a satellite into a LEO, and a satellite there needs less powerful amplifiers for successful transmission, LEO is used for many communication applications, such as the Iridium phone system. Some communication satellites use much higher geostationary orbits, and move at the same angular velocity as the Earth as to appear stationary above one location on the planet.
About Analyst
Chirs Ma - Main Analyst of this Article
Email: maciqiang@qyresearch.com
Mr. Ma has 9 years of industry research experience, focusing on mechanical equipment, medical beauty and health, semiconductor equipment and other fields. Some of his in-depth research topics include semiconductor etching equipment, hyaluronic acid-based skin fillers, industrial hoses, slip rings, EMS and ODM, etc.
About QYResearch
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