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Report explores the satellite payloads market that is projected to reach USD 18.15 Billion by 2022, growing at a CAGR of 8.92%

Report explores the satellite payloads market that is projected to reach USD 18.15 Billion by 2022, growing at a CAGR of 8.92%

The satellite payloads market is estimated to be USD 11.84 Billion in 2017 and is projected to reach USD 18.15 Billion by 2022, at a CAGR of 8.92% during the forecast period. Factors such as increased demand for hosted payloads, satellite miniaturization.

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The report "Satellite Payloads Market by Orbit Type (LEO, MEO, GEO), Payload Type (Communication, Imaging, Navigation), Vehicle Type (Small, Medium to Heavy), Payload Weight (Low, Medium, High), Frequency Band, Application, & Region - Global Forecasts to 2022", The satellite payloads market is estimated to be USD 11.84 Billion in 2017 and is projected to reach USD 18.15 Billion by 2022, at a CAGR of 8.92% during the forecast period. Increased demand for hosted payloads, satellite miniaturization, and reducing costs of satellites are the key factors expected to fuel the growth of the satellite payloads market.

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The LEO segment is expected to lead the satellite payloads market during the forecast period

Based on orbit type, the LEO (Low Earth Orbit) segment is projected to lead the satellite payloads market during the forecast period. The satellite payloads designed for LEO are mainly used for earth observation, remote sensing, and mobile & telecommunication services due to lower latency.

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The communication payload segment is expected to lead the satellite payloads market during the forecast period

Based on payload type, the communication payload segment is estimated to lead the satellite payloads market during the forecast period. This payload type is used for transmitting highly critical data.

It is also used in the telecommunication and broadcasting industries on a larger scale.

The C, K/KU/KA band segment is projected to lead the satellite payloads market during the forecast period

Based on frequency band, the C, K/KU/KA band segment is projected to lead the satellite payloads market during the forecast period. C, K, Ku, & Ka bands are widely used for telecommunication and broadcast operations.

The telecommunication segment is projected to lead the satellite payloads market during the forecast period

Based on application, the telecommunication segment is estimated to dominate the satellite payloads market during the forecast period. Due to the increase in research and development activities, communication-related missions are expected to offer enhanced quality communication systems with the help of highly sophisticated miniaturized on-board nano, micro, and mini subsystems.

North America is estimated to account for the largest share of the satellite payloads market in 2017

The North American region is estimated to lead the satellite payloads market in 2017. Disruptive technologies in the region’s satellite industry are transforming the way the companies do business, helping them with a competitive advantage in markets of other regions.

The North American satellite payloads market is expected to witness high growth during the forecast period.

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