Satellites weighing 500 kg and above are considered medium and large satellite. Micro or small satellites are used owing to their fast development schedules and low cost. These micro satellites are dedicated ones. However, small satellites come with many limitations and makes design of imaging payloads difficult. In an attempt to get over these constraints, medium and large satellites are made to send across several sensors at one single time.
The global medium and large satellite market is prognosticated to expand at a growth rate of 4.1 % CAGR over the period of forecast, from 2018 to 2026.
Some of the key players in the global medium and large satellite market comprise EchoStar Corporation, Airbus D&S, Lockheed Martin Corporation, Space Exploration Technologies Corp, Inmarsat PLC, and AMOS Spacecom.
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Increased Investment in the Research and Development to Fuel Market Growth
Satellites are manmade objects that are placed into the orbit. These satellites often leave an impact on our lives without even us knowing about it. These satellites offer more convenience, make our lives safer, and help in the broadcast of entertainment programs. Satellites are sent into the space to do a certain job. The type of satellite launched to send signals to television channels differs from the ones that is tasked to monitor weather. A satellite is designed to do a particular task to fulfill its mission.
The global medium and large satellite market is likely to be driven by the rising investment in the space industry. In addition, medium and large satellites come with wide range of applications, which works in favor of the global medium and large satellite market in near future. In addition, for the purpose of security, the demand for medium and large satellites is on the rise. Meteorological departments also need the services of these satellites for accurate forecasts of weather, which is expected to offer ample scope of growth for the market over the assessment tenure, from 2018 to 2026.
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In addition, augmented demand of these satellites from the space and defense sector is estimated to come up as an important factor of growth for the global medium and large satellite market. The market is expected to be driven by low manufacturing cost, presence of trained workforce, and hassle-free launching facilities are expected to bolster its demand in the market in near future. However, in comparison with micro satellites, medium and large satellites come more expensive, which is likely to impede growth of the global medium and large satellite market in near future.
Driven by the US, North America to Lead the Market
Based on region, analysts at Transparency Market Research (TMR) analysts have segmented the global medium and large satellite market to offer a deeper understanding of the regional markets. Europe, North America, Asia Pacific, Latin America, and Middle East and Africa the major regional segments of the market.
Read TMR Research Methodology at: https://www.transparencymarketresearch.com/methodology.htm
Driven by the U.S., North America is expected to lead the market with a large share of the global medium and large satellite market. Early penetration of technology together with very high budget for space research and exploration activities are further likely to pave way for the growth of the market in the region.
Driven by increased research and development activities in India and China, Asia Pacific is likely to observe a rise in the demand for these satellites over the tenure of assessment, from 2018 to 2026.l
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