The satellite payloads market size is projected to grow from USD 3.7 Billion in 2021 to USD 11.3 Billion by 2026, at a CAGR of 24.8% from 2021 to 2026 acording to new research from Research and Markets. The satellite payloads market is growing at a significant rate across the world, and a similar trend is expected to be observed during the forecast period.
Ongoing advancements in space technology and satellite payloads, an increasing number of satellite launches, and growing investments in industrial automation are fueling the growth of the satellite payloads market.
Continuous advancements in the miniaturization of satellite payloads through technological advancements in digital components, low-mission costs, and the increasing use of satellite constellations (containerization) are major drivers for the growth of this market.
Satellite payloads such as communications, imagery, and radarare used for various applications, such as earth observation and remote sensing, and surveillance and security.
At the same time, the rest of the satellite, the bus, supports the payload by providing a structure, power, commanding, and telemetry, an appropriate thermal environment, radiation shielding, and attitude control.
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Satellite Payloads Market by Type, Satellite, Orbit, Application, End User, Frequency and Region - Forecasts to 2026
