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What key factors are powering the surge in the satellites market right now?

In recent times, there has been significant growth in the size of the satellite market. There is an expectation that it will expand from $25.01 billion in 2024 to reach a value of $26.4 billion in 2025, showing a compound annual growth rate (CAGR) of 5.6%. The growth observed in the historical period is due to increased investments in satellites, the introduction of advanced low earth orbit satellites, and the rise in technology development.

How fast Is the satellites market expected to grow, and what’s its future value?

There is an anticipated surge in the size of the network as a service market in the forthcoming years, with projections indicating growth to $106.74 billion by 2029, at a CAGR of 34.1%. The driving forces for the projected growth during the forecast period include the evolution of edge computing, security and compliance necessities, industry-tailored networking resolutions, and flexible subscription plans. The forecast era also signals key trends such as the incorporation of 5G, initiatives for digital transformation, acceptance of software-defined networking (SDN), network security as a service (SECaaS), as well as network analytics and intelligence.

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What are the leading drivers of growth in the satellites market?

The surge in demand for Direct-To-Home (DTH) television services during the forecast period spurred the expansion of the satellite market. A DTH service is essentially a digital satellite facility that promptly dispatches satellite television programming to a subscriber’s household. According to the Telecom Regulatory Authority of India (TRAI) Quarterly Indicator Report, the total active subscriber base for Pay DTH saw an increase from 65.58 million in September 2022 to 66.62 million in December 2022. Because the DTH service utilizes wireless technology, TV programs are conveyed directly to the subscriber’s television from the satellite itself, which consequently stimulated satellite demand, thus generating revenue for the global satellite market’s growth.

What are the key segments defining the satellites market?

The satellites market covered in this report is segmented –

1) By Type: Large Satellite, Mini Satellite, Micro Satellite, Nano Satellite

2) By Orbit: Low Earth Orbit (LEO), Medium Earth Orbit (MEO), Geosynchronous Orbit (GEO), Elliptical Orbit

3) By Application: Scientific Research, Technology Demonstration And Verification, Earth Observation And Remote Sensing, Communication, Other Applications

4) By End User: Commercial, Civil, Government, Military, Other End Users

Subsegments:

1) By Large Satellite: Geostationary Satellites, High-Capacity Communication Satellites, Earth Observation Satellites

2) By Mini Satellite: Miniaturized Communication Satellites, Science And Research Satellites

3) By Micro Satellite: Technology Demonstration Satellites, Low Earth Orbit (LEO) Satellites For Data Collection

4) By Nano Satellite: CubeSats, PocketQubes, Educational And Experimental Satellites

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Who are the key players steering the development of the satellites market?

Major companies operating in the satellites market include Lockheed Martin Corporation, The Boeing Company, Thales Group, Airbus SE, Northrop Grumman Corporation, OHB SE, Israel Aerospace Industries Ltd, ST Engineering, NanoAvionics, Gomspace, Beijing Commsat Technology Development Co., Ltd, Avasarala Technologies Limited, Speedcast International Limited, One Space Tech, Land Space Technology Corporation Ltd, ExPace Technology Corporation, Skyroot Aerospace, Gilmour Space Technologies, Deep Blue Aerospace, Mitsubishi Heavy Industries, China Aerospace Science and Technology Corporation (CASC), Honeywell International Inc, Telespazio SpA, Raytheon, AAC Microtec, Thales Alenia Space, Surrey Satellite Technology Ltd, EnduroSat, AAC Clyde Space, Space Exploration Technologies Corp (SpaceX), Viasat Inc, Telesat, Starlink Satellite Constellation, OneWeb, Hughes Network Systems, Innova Space, ARSAT, Satellogic, Al Yah Satellite Communications (YAHSAT), Arabsat, Es’hailSat, QSAT, Saman Satellite Communications, DragonFly Aerospace, Eureka Geo, XinaBox, Simera Sense

What emerging trends are influencing the growth of the satellites market?

The satellites market is witnessing an uprising in popularity due to the introduction of hybrid DTH set-top boxes. The emergence of these hybrid boxes is the result of DTH operators’ efforts to present online content on television screens. Take for example, Bharti Airtel Limited, a telecommunications company based in India, which launched the X-stream Hybrid Android set-top box in April 2023. The recently launched Airtel Xstream Box, packed with Android 10, offers a cost-effective solution for those in search of a streaming device equipped with cutting-edge features. The Xstream Box also comes with Chromecast feature, enabling users to seamlessly broadcast content from their mobile devices or tablets to their television screens.

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Which regions are most influential in expanding the satellites market?

Asia-Pacific was the largest region in the satellites market in 2024. Asia-Pacific is expected to be the fastest-growing region in the global satellites market share during the forecast period. The regions covered in the satellites market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

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