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Commercial Space Payload Market Size, Share, and COVID-19 Impact Analysis, By Orbit (LEO, MEO, and GEO), By Type (Communication, Earth Observation, Navigation, and Others), By Payload (Upto 100 Kg, 100 Kg to 500 Kg, 500 Kg to 1,000 Kg, 1,000 kg to 2,000 kg, and Above 2,000 Kg), By End Users (Agriculture, Construction and Mining, Energy, Forestry, and Others), and Regional Forecast, 2024-2032.

Region :Global | Report ID: FBI108106 | Status : Ongoing

 

KEY MARKET INSIGHTS

Commercial payload refers to the satellites or other space-based cargo that is sent to the Earth’s orbit and generates revenue. Commercial payload generates revenue for the operating firms, and mostly consists of small communications and remote sensing satellites in the orbit.


Key Market Insights:


Commercial space payload consists mostly of pocketqube satellites, cubesats, nanosats, and others that are to be used for the purpose of Earth observation and communication. Most of these satellites are operated by private firms, and that is where the revenue is generated from for launches. The space payload profitability is increasing with the introduction of new developments, such as reusable rockets. Many firms, such as Vast Space LLC, are also in the process of launching their own commercial space station, which will further expand the commercial payload market.

The market is driven by the increasing demand for small satellites for communication and Earth observation purposes. Satellite communication provides a better connectivity at a better price point, while Earth observation satellites are used by a many industries for their imagery and detection capabilities. Furthermore, the development in rocket technology also allows multiple satellites to be launched together, increasing efficiency and profitability of the operation.

Stringent government policies are a big restraint towards the development of the market. Private firms need to build their satellites in accordance with the satellites, which hampers the speed of advancement due to the different limitations of different countries.

Impact of COVID-19 on the Global Commercial Space Payload Market:


The COVID-19 pandemic forced the world into a lockdown for a major part of the year 2020. Nation-wide lockdowns were imposed by many countries, which led to a sharp decline in production and severe supply-chain disruptions. The commercial space payload sector also faced the effects of the pandemic. Several satellite launches were delayed or cancelled, leading to huge revenue losses for both the operators and the transporters. For instance, the launch of Argentinian satellite SAOCOM 1B aboard a Falcon 9 rocket, originally planned for March, was delayed till August. Travel restrictions reduced manufacturing of rockets and satellites, and also decelerated the ongoing development of the technology. Overall, the pandemic had a negative effect of the growth of the commercial space payload market.

The global commercial space payload market is segmented into four broad categories- by orbit, by type, by payload, and by end user. Based on the orbit, the market is trifurcated into LEO, MEO, and GEO. Based on the type of payload, the market is divided into communication, Earth observation, navigation, and others. Based on the payload, the market is divided into upto 100 Kg, 100 Kg to 500 Kg, 500 Kg –to 1,000 Kg, 1,000 kg to 2,000 kg, and above 2,000 Kg. Based on the end users, the market is divided into academic, agriculture, construction and mining, energy, forestry, and others. Based on the region, the market is divided into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America.

Key Insights:


The report will describe the following key insights:


  • The report analyzes a detailed industry overview, including qualitative and quantitative information.

  • The report analyzes an overview and forecast of the global commercial space payload market based on various segments.

  • The report also analyzes comprehensive PEST analysis for all four regions, i.e. North America, Europe, Asia Pacific, Middle East & Africa, and Latin America after evaluating economic, social, political, and technological factors affecting the global commercial space payload market in these regions.


Regional Analysis:


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North America is the dominant contributor towards the growth of the market. The region has a big demand for commercial payload. The presence of big players such as SpaceX and Blue Origin LLC bolsters the hold of the region on the market. Many firms in the region such as Axiom Space and Northrop Grumman Corporation are constructing their own commercialized space stations, which will further aid market growth.

Asia Pacific is projected to witness major market growth in the upcoming years. Nations such as India, China, Japan, and South Korea are beginning to invest more into the space sector. This in turn is favoring private players to enter the market and boost the research of the technology in the region. The growing demand for communications and remote sensing is also favoring market growth.

Key Players Covered:


Some of the key players in the global commercial space payload market include SpaceX, Blue Origin LLC, Lockheed Martin Corporation, Planet Labs PBC, Airbus, Blacksky Technology Inc., Thales Alenia Space, Boeing, Oneweb.Net, and Capella Space, and others.

Segmentation:




















By  Orbit


By Type


By Payload


By End Users


By Region



  • LEO

  • MEO

  • GEO




  • Communication

  • Earth Observation

  • Navigation

  • Others




  • Upto 100 Kg

  • 100 Kg to 500 Kg

  • 500 Kg to 1,000 Kg

  • 1000 kg to 2000kg

  • Above 2,000 Kg




  • Agriculture

  • Construction and Mining

  • Energy

  • Forestry

  • Others




  • North America (U.S. and Canada)

  • Europe (U.K., Germany, France, Russia, and Rest of Europe)

  • Asia Pacific (India, China, Japan, South Korea, and Rest of Asia Pacific)

  • Middle-East and Africa (Saudi Arabia, U.A.E., South Africa, and the Rest of Middle East & Africa)

  • Latin America (Brazil, Argentina and Rest of Latin America)



Key Industry Developments:



  • In May 2023, Momentus Inc. announced that the firm had signed a contract with Hello Space to carry a hosted payload of demo deployer carrying four pocketqube satellites on the Vigoride 7 mission. Momentus Inc. is a commercial space company that offers orbital transportation and in-space infrastructure services, while Hello Space is an internet of things (IoT) through satellite tech- company.

  • In March 2023, Firefly Aerospace Inc., an end-to-end space transportation company, was awarded a contract worth USD 112 Million by National Aeronautics and Space Administration (NASA) for the delivery of a satellite into the lunar orbit and two research payloads on the far side of the moon.





  • Ongoing
  • 2023
  • 2019-2022

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