According to the Fortune Business Insights the global satellite payload market size stood at USD 10.73 billion in 2024. The market is poised to expand from USD 12.57 billion in 2025 to USD 16.04 billion by 2032, exhibiting a CAGR of 5.2% over the study period.

Payloads are technological instruments on a satellite that helps in fulfilling the key objectives of a space mission. Communication equipment and scientific equipment are some of the examples. The growing number of endeavors focused on developing satellites equipped with software-defined capabilities is expected to fuel the industry expansion.

Fortune Business Insights™ provides this information in its research report, titled “Satellite Payload Market Size, Share, 2025-2032”.

List of Key Players Mentioned in the Report:

• Airbus S.A.S (Netherlands)
• L3Harries Technologies (U.S.)
• Lockheed Martin Corporation (U.S.)
• Maxar Technologies (U.S.)
• Northrop Grumman Corporation (U.S.)
• Sierra Nevada Corporation (U.S.)
• SpaceX (U.S.)
• ST Engineering (Singapore)
• Thales Group (France)
• The Boeing Company (U.S.)

Source: https://www.fortunebusinessinsights.com/industry-reports/satellite-payload-market-101829

Segmentation:

Imaging Segment Accounted for Leading Share in 2023 Due to Product Deployment in Geospatial Data Collection

On the basis of payload type, the market is fragmented into imaging, communication, navigation, and others. In 2023, the imaging segment registered a major share in the global market as these satellites are deployed in key applications in the collection of geospatial data.