COTS satellite components market to reach $4.12 billion by 2032: report
NewsJuly 14, 2022
FREMONT, California. Surging demand worldwide for sastellite-based connectivity will cause the commercial-off-the-shelf (COTS) satellite components market to reach $4.12 billion in revenue by 2032 for a compound annual growth rate (CAGR) of 1.21%, a new report predicts.
The report from BIS Research states that the increasing popularity of small satellites that operate in low Earth orbit (LEO) for three to five years are one of the big drivers of growth in this space.
Some of the main industry players in terms of satellite COTS components in the coming years include defense contractors such as Curtiss-Wright, Honeywell International, and Mercury Systems, Inc.
