Commercial Space Payload Market Size, Key Factors, Major Players, Growth Strategies, Trends, Forecast
Global commercial space payload market size reached USD 32.70 billion in 2021 and is expected to register a revenue CAGR of 5.6% during the forecast period, according to latest analysis by Emergen Research. Increasing number of commercial satellite launches, rising number of space exploration missions, and rising demand for satellite data are expected to support market revenue growth during 2022-2030. The current COVID-19 pandemic is expected to have an effect on the growth of the Commercial Space Payload industry majorly attributable to the movement restrictions and impact on the supply and demand due to the lockdowns. The COVID-19 pandemic has affected several sectors of the global market, and the Commercial Space Payload sector is expected to feel the impact of the pandemic. The economic slowdown and dynamic changes in the demands will further affect the growth of the industry. The report covers the impact analysis of the COVID-19 pandemic on the overall Commercial Space Payload i