According to Cognitive Market Research, the global Satellite Payload market size will be USD 4125.2 million in 2024. It will expand at a compound annual growth rate (CAGR) of 25.20% from 2024 to 2031.
North America held the major market share for more than 40% of the global revenue with a market size of USD 1650.08 million in 2024 and will grow at a compound annual growth rate (CAGR) of 23.4% from 2024 to 2031.
Europe accounted for a market share of over 30% of the global revenue with a market size of USD 1237.56 million.
Asia Pacific held a market share of around 23% of the global revenue with a market size of USD 948.80 million in 2024 and will grow at a compound annual growth rate (CAGR) of 27.2% from 2024 to 2031.
Latin America had a market share of more than 5% of the global revenue with a market size of USD 206.26 million in 2024 and will grow at a compound annual growth rate (CAGR) of 24.6% from 2024 to 2031.
Middle East and Africa had a market share of around 2% of the global revenue and was estimated at a market size of USD 82.50 million in 2024 and will grow at a compound annual growth rate (CAGR) of 24.9% from 2024 to 2031.
The Communication category is the fastest growing segment of the Satellite Payload industry
