The satellite industry lays out a large amount of capital in the development and launch of satellites, therefore, assurance of returns and minimization of risks associated with satellite loss are the key prerequisites for satellite operators. Technological innovations along with the introduction and development of high throughput satellite (HTS), small satellites, electric propulsion system, autonomous platforms, and advanced electronic components such as field programmable gate arrays (FPGAs) and microprocessors, have gradually been revolutionizing the space industry. The next big leap in this scenario would be the introduction of software-defined satellites, which provide a dynamic platform to reconfigure the satellites while in orbit. Such technology, due to advancements in payload electronics and inclusion of artificial intelligence and machine learning in the architecture, has the potential to lead to a remarkable era of digital space communication.

The software-defined satellite market analysis by BIS Research projects the market to grow at a significant CAGR of 14.81% by value and 14.85% by volume, during the forecast period from 2019 to 2030.

Along with leveraging technical benefits and dynamic operations, software-defined satellites provide several business opportunities to software developing companies which are traditionally among space agencies, satellite manufacturers, operators, and service providers.

BIS Research has meticulously tracked the global software-defined satellite market, compiled in 268 insightful pages containing 14 market data tables and 143 figures to complement the market analysis. The research is based on extensive primary interviews (industry experts and key executives from prominent companies and organizations) and secondary research (a host of paid and unpaid databases), along with the analytical tools that have been used to build the forecast and the predictive models.

Commercial end-user segment is at the forefront in the global software-defined satellite market. This is owing to the increase in the development and utilization of software-defined satellite for applications such as communication, earth observation, and navigation by commercial industries including IT and telecommunication, agriculture, mining, and oil and gas, among others. The segment witnessed 57 launches in 2018, and the number is anticipated to grow to 200 launches in 2030. The academic segment is anticipated to showcase the highest growth rate over the forecast period 2019-2030, owing to increased degree of research on software-defined satellites by universities across the regions in collaboration with space agencies and commercial companies.

By orbit, the LEO exhibited the highest market share in the global software-defined satellite market. Low earth orbit (LEO) had the highest market penetration rate of 93.55% in 2018, in terms of number of launches, followed by geostationary orbit (GEO). LEO accounted for 58 launches in 2018 and the number expected to reach 191 launches by 2030. However, medium earth orbit (MEO) is expected to witness the highest growth rate over the period 2019-2030, owing to their capability to accommodate more payload with minimal increase in manufacturing cost.

By technology, the software-defined radios (SDRs) technology had the highest market penetration in the global software-defined satellite market. Software-defined radio (SDR) technology accounted for 32 launches in 2018 and the number is expected to reach 117 launches by 2030. However, artificial intelligence (AI) and cloud computation technology is expected to witness the highest growth rate over the period 2019-2030, owing to their capability to attain the highest autonomy and reconfigurability.

Currently, the payload segment holds the highest share of the software-defined satellite market and accounted for 25.50% share in 2018. Software-defined satellites have presented numerous opportunities for conducting research in space as secondary payload, at a lower cost. In addition, the payload segment is anticipated to witness the highest growth in the market owing to the various forms of innovations and miniaturization in the payload components.

In terms of region, the North America is anticipated to witness a high rate of market growth in the global software-defined satellite market. Europe accounted for the highest share of the market in 2018, owing to the maximum number of software-defined satellite launched by France. The region has experienced various transformational developments by established satellite development companies and ESA. The APAC region is expected to witness the highest growth rate of 24.36% in the market during the forecast period, 2019-2030. The growth of the region is mainly driven by continued developments in satellite technologies by governments of China, India, and Japan, which are focusing on bringing about innovations in the space technology to strengthen the national economy and security.

The competitive landscape of the software-defined satellite market exhibits an inclination toward companies adopting both organic and inorganic strategies. Innovative product launches, precise and secure subsystems, pricing strategies, and formation of partnerships among the major market players of the space industry are some of the key initiatives undertaken by the companies, thus giving a boost to the market growth. Some of the key players in the space industry such as Airbus S.A.S., AdaSpace, Nvidia, SSL, Lockheed Martin Corporation, Northrop Grumman Corporation, GalacticSky, IBM, AIKO, Planet SES, SSTL, Thales Group, and The Boeing Company, are aiming toward numerous product launches and collaborations to expand their operations and compete in the market.