Satellite Market | Discover Top Segments, Trends, Drivers and Challenges
Market Recovery and Growth Projections 2021-2025
The satellite market is expected to grow by $ 11.16 billion, decelerating at a CAGR of almost 2.79% during the forecast period. Technavio’s research report traces the growth trajectory of the market and provides a detailed analysis of the prevalent market forces, trends, and drivers which are likely to impact the market in focus.
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Satellite Market: Market Segments and Growth Forecasts
This research report will provide insights into the current market share of each segment along with growth projections for the next five years.
- Market is segmented End-user (civil and defence) and Geography (North America, Europe, APAC, MEA, and South America).
- 60% of the market growth will originate from APAC during the forecast period. This report provides an accurate prediction of the contribution of all the geographic segments to the growth of the Satellite Market size.
Satellite Market: Trends, Drivers, Challenges
The report also offers a detailed impact analysis of various trends, drivers, and challenges that are likely to influence the market growth during the forecast period. These insights will equip clients to design a growth strategy for their business and area of operations.
- A key market driver for the Satellite Market will be accelerating demand for satellite navigation equipment.
- Another factor that will boost the market will be the Increasing usage of the internet.
- One of the key challenges that market players need to contend with in order to achieve further success is the High cost of satellite hardware and components.
Satellite Market: Vendor Analysis
- The market is fragmented.
- The growth of the players depends on several factors such as market conditions, government support, and industry development. To survive and succeed in such an intensely competitive market, players must distinguish their product and service offerings through clear and unique value propositions.
- Airbus SE, Intelsat SA, ISS-Reshetnev Co., Lockheed Martin Corp., Maxar Technologies Inc., Northrop Grumman Corp., OHB SE, Raytheon Technologies Corp., Thales Group, and The Boeing Co. are some of the major market participants.
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The report provides insights into the following FAQs:
- What is the market CAGR?
The market is decelerate at a CAGR of 2.79%.
- What is the incremental growth of the market?
The market is expected to grow by $ 11.16 billion through 2021-2025.
- What is a key factor driving this market?
Accelerating demand for satellite navigation equipment will drive market growth over the forecast period.
- What are the key regions covered in this market research report?
North America, Europe, APAC, MEA, and South America are the key regions featured in this research report.
- Which is the leading geographic region for this market:
60% growth will originate from APAC
- Who are the leading market vendors?
The leading vendors in this market are Airbus SE, Intelsat SA, ISS-Reshetnev Co., Lockheed Martin Corp., Maxar Technologies Inc., Northrop Grumman Corp., OHB SE, Raytheon Technologies Corp., Thales Group, and The Boeing Co.
- What are the market segments covered in this report?
The market is segmented by End-user (civil and defence) and Geography (North America, Europe, APAC, MEA, and South America)