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Asia-Pacific Military Satellite Market SIZE & SHARE ANALYSIS - GROWTH TRENDS & FORECASTS UP TO 2029

The Asia-Pacific Military Satellite Market is segmented by Satellite Mass (10-100kg, 100-500kg, 500-1000kg, Below 10 Kg, above 1000kg), by Orbit Class (GEO, LEO, MEO), by Satellite Subsystem (Propulsion Hardware and Propellant, Satellite Bus & Subsystems, Solar Array & Power Hardware, Structures, Harness & Mechanisms) and by Application (Communication, Earth Observation, Navigation, Space Observation, Others). Market Value in USD is presented. Key Data Points observed include spending on space programs in USD by region; and, the count of satellite launches by satellite launch mass.

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Asia-Pacific Military Satellite Market Size

Asia-Pacific Military Satellite Market Summary
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svg icon Study Period 2017 - 2029
svg icon Market Size (2024) USD 20.36 Billion
svg icon Market Size (2029) USD 34.77 Billion
svg icon Largest Share by Orbit Class LEO
svg icon CAGR (2024 - 2029) 11.30 %
svg icon Largest Share by Country South Korea
svg icon Market Concentration High

Major Players
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*Disclaimer: Major Players sorted in alphabetical order.

Key Players

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Asia-Pacific Military Satellite Market Analysis

The Asia-Pacific Military Satellite Market size is estimated at USD 20.36 billion in 2024, and is expected to reach USD 34.77 billion by 2029, growing at a CAGR of 11.30% during the forecast period (2024-2029).

20.36 Billion

Market Size in 2024 (USD)

34.77 Billion

Market Size in 2029 (USD)

12.71 %

CAGR (2017-2023)

11.30 %

CAGR (2024-2029)

Largest Market by Satellite Mass

68.18 %

value share, above 1000kg, 2022

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Large satellites have a higher demand owing to their applications, such as satellite radio, communications, remote sensing, planetary security, and weather forecasting.

Largest Market by Satellite Subsystem

80.28 %

value share, Propulsion Hardware and Propellant, 2022

The demand for these propulsion systems is driven by the launch of mass satellite constellations into space. They are used for transferring the spacecraft to the orbit.

Largest Market by Orbit Class

84.81 %

value share, LEO, 2022

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LEO satellites are increasingly being adopted in modern communication technologies. These satellites serve an important role in Earth observation applications.

Largest Market by Application

83.28 %

value share, Earth Observation, 2022

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Earth observation satellites are used for weather forecasting, forestry mapping, and pollution monitoring. The growing adoption of VAS by private companies and organizations is likely to fuel the growth of satellite-based Earth observation.

Leading Market Player

95 %

market share, China Aerospace Science and Technology Corporation (CASC), 2022

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China Aerospace Science and Technology Corporation is the leading player in the market. CASC offers a wide range of launch vehicles and adopts a competitive pricing strategy to attract customers across the world.

LEO satellites driving the demand by occupying a major share of 84% in 2029

  • Asia-Pacific has seen a significant increase in the demand for military satellites to accommodate a wide range of satellite orbits, including low Earth orbit (LEO), medium Earth orbit (MEO), and geostationary Earth orbit (GEO). This demand has been driven by the growing need for satellite-based communication, navigation, and remote sensing services.
  • LEO satellites have become increasingly popular for a wide range of applications, including Earth observation, weather forecasting, and communication. The demand for LEO satellites has been particularly strong in China, where companies such as Spacety and Chang Guang Satellite Technology Co. Ltd offer satellite buses for LEO missions. China has been active in this region with the launch of the Gao Fen series satellites.
  • MEO satellites have become increasingly important for global navigation and positioning services such as GPS and Galileo. In the region, China has been a leader in this area with the launch of the BeiDou navigation system.
  • GEO satellites are particularly important for communication and broadcasting services, such as television and the Internet. The demand for GEO satellites has been particularly strong in India, where companies such as ISRO and Antrix Corporation Ltd have been developing advanced satellite buses for communication missions. China has also been investing heavily in GEO satellites, with the launch of the Zhongxing series of communication satellites.
Asia-Pacific Military Satellite Market

Asia-Pacific Military Satellite Market Trends

Increasing demand for satellite miniaturization globally

  • Miniature satellites leverage advances in computation, miniaturized electronics, and packaging to produce sophisticated mission capabilities. Microsatellites can share the ride to space with other missions and offer a considerable reduction in launch costs. The demand from Asia-Pacific is primarily driven by China, Japan, South Korea, and India, which manufacture the largest number of small satellites each year. Though the launches from the country have decreased over the last three years, a huge potential lies in the country’s industry, and the ongoing investments in the startups and the nano and microsatellite development projects are expected to boost the revenue growth of the region. Between 2017 and 2022, more than 50 nano and microsatellites were placed into orbit by various players in the region.
  • For instance, in November 2021, China successfully launched a new remote-sensing satellite, Yaogan-35A, into space from the Xichang Satellite Launch Center. Yaogan-35A is an intelligence, surveillance, and reconnaissance (ISR) satellite. The Yaogan-35A series of satellites are built by the Small Satellite Centre at the China Academy of Science (CAS). It is speculated that these satellites are signals or electronic intelligence (SIGINT/ELINT) gathering systems that will collect and geolocate radio emissions from ships and are part of the Chinese maritime domain awareness mission.
Asia-Pacific Military Satellite Market

Investment opportunities in the global satellite manufacturing market

  • Considering the increase in space-related activities in Asia-Pacific, satellite manufacturers are enhancing their satellite production capabilities to tap into the rapidly emerging market potential. The prominent countries in Asia-Pacific that pose a robust space infrastructure are China, India, Japan, and South Korea. China National Space Administration (CNSA) announced space exploration priorities for the 2021-2025 period, including enhancing national civil space infrastructure and ground facilities. As a part of this plan, the Chinese government established China Satellite Network Group Co. Ltd for the development of a 13,000-satellite constellation for satellite internet.
  • In 2022, according to the draft budget of Japan, the space budget of the country was over USD 1.4 billion, which included investment for space activities of 11 government ministries, such as the development of the H3 rocket, Engineering Test Satellite-9, and the nation’s Information Gathering Satellite (IGS) program. India has become a global leader in third-party launch services and has several ongoing R&D programs for new launch platforms. The proposed budget for India's space programs for FY22 was USD 1.83 billion.
  • South Korea's space program has seen slow progress as other countries are reluctant to transfer core technologies. In 2022, the Ministry of Science and ICT announced a space budget of USD 619 million for manufacturing satellites, rockets, and other key space equipment. Many Southeast Asian countries have started investing in space technology. As of March 2021, the Indonesian government secured USD 545 million to continue the fabrication of the very high throughput satellite (SATRIA), using a public-private partnership (PPP) scheme, for launch in 2023.
Asia-Pacific Military Satellite Market

OTHER KEY INDUSTRY TRENDS COVERED IN THE REPORT

  • Small satellites are poised to create demand in the market

Asia-Pacific Military Satellite Industry Overview

The Asia-Pacific Military Satellite Market is fairly consolidated, with the top five companies occupying 95%. The major players in this market are Airbus SE, China Aerospace Science and Technology Corporation (CASC), Innovative Solutions in Space BV, Mitsubishi Heavy Industries and Thales (sorted alphabetically).

Asia-Pacific Military Satellite Market Leaders

  1. Airbus SE

  2. China Aerospace Science and Technology Corporation (CASC)

  3. Innovative Solutions in Space BV

  4. Mitsubishi Heavy Industries

  5. Thales

Asia-Pacific Military Satellite Market Concentration

Other important companies include Indian Space Research Organisation (ISRO).

*Disclaimer: Major Players sorted in alphabetical order.

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Asia-Pacific Military Satellite Market News

  • October 2023: Mitsubishi Electric was given a contract by JAXA, the Ministry of Environment, and the National Institute of Environmental Studies, Japan, to build the Greenhouse Gases Observing Satellite-2 (GOSAT-2). The satellite was launched from the Tanegashima Space Center in southern Japan.
  • September 2023: The Royal Thai Air Force awarded Innovative Solutions In Space a contract to build its next satellite mission based on an ISISpace 6U CubeSat.
  • February 2023: Mitsubishi Electric was given a contract by Cabinet Satellite Intelligence Center (CSIC) to build a reconnaissance satellite named IGS Optical 7. The satellite was launched from the Tanegashima Space Center in southern Japan.

Free with this Report

We offer a comprehensive set of global and local metrics that illustrate the fundamentals of the satellites industry. Clients can access in-depth market analysis of various satellites and launch vehicles through granular level segmental information supported by a repository of market data, trends, and expert analysis. Data and analysis on satellite launches, satellite mass, application of satellites, spending on space programs, propulsion systems, end users, etc., are available in the form of comprehensive reports as well as excel based data worksheets.

Asia-Pacific Military Satellite Market
Asia-Pacific Military Satellite Market
Asia-Pacific Military Satellite Market
Asia-Pacific Military Satellite Market

Asia-Pacific Military Satellite Market Report - Table of Contents

  1. EXECUTIVE SUMMARY & KEY FINDINGS

  2. REPORT OFFERS

  3. 1. INTRODUCTION

    1. 1.1. Study Assumptions & Market Definition

    2. 1.2. Scope of the Study

    3. 1.3. Research Methodology

  4. 2. KEY INDUSTRY TRENDS

    1. 2.1. Satellite Miniaturization

    2. 2.2. Satellite Mass

    3. 2.3. Spending On Space Programs

    4. 2.4. Regulatory Framework

      1. 2.4.1. Australia

      2. 2.4.2. Japan

      3. 2.4.3. Singapore

    5. 2.5. Value Chain & Distribution Channel Analysis

  5. 3. MARKET SEGMENTATION (includes market size in Value in USD, Forecasts up to 2029 and analysis of growth prospects)

    1. 3.1. Satellite Mass

      1. 3.1.1. 10-100kg

      2. 3.1.2. 100-500kg

      3. 3.1.3. 500-1000kg

      4. 3.1.4. Below 10 Kg

      5. 3.1.5. above 1000kg

    2. 3.2. Orbit Class

      1. 3.2.1. GEO

      2. 3.2.2. LEO

      3. 3.2.3. MEO

    3. 3.3. Satellite Subsystem

      1. 3.3.1. Propulsion Hardware and Propellant

      2. 3.3.2. Satellite Bus & Subsystems

      3. 3.3.3. Solar Array & Power Hardware

      4. 3.3.4. Structures, Harness & Mechanisms

    4. 3.4. Application

      1. 3.4.1. Communication

      2. 3.4.2. Earth Observation

      3. 3.4.3. Navigation

      4. 3.4.4. Space Observation

      5. 3.4.5. Others

  6. 4. COMPETITIVE LANDSCAPE

    1. 4.1. Key Strategic Moves

    2. 4.2. Market Share Analysis

    3. 4.3. Company Landscape

    4. 4.4. Company Profiles (includes Global Level Overview, Market Level Overview, Core Business Segments, Financials, Headcount, Key Information, Market Rank, Market Share, Products and Services, and Analysis of Recent Developments).

      1. 4.4.1. Airbus SE

      2. 4.4.2. China Aerospace Science and Technology Corporation (CASC)

      3. 4.4.3. Indian Space Research Organisation (ISRO)

      4. 4.4.4. Innovative Solutions in Space BV

      5. 4.4.5. Mitsubishi Heavy Industries

      6. 4.4.6. Thales

  7. 5. KEY STRATEGIC QUESTIONS FOR SATELLITE CEOS

  8. 6. APPENDIX

    1. 6.1. Global Overview

      1. 6.1.1. Overview

      2. 6.1.2. Porter's Five Forces Framework

      3. 6.1.3. Global Value Chain Analysis

      4. 6.1.4. Market Dynamics (DROs)

    2. 6.2. Sources & References

    3. 6.3. List of Tables & Figures

    4. 6.4. Primary Insights

    5. 6.5. Data Pack

    6. 6.6. Glossary of Terms

List of Tables & Figures

  1. Figure 1:  
  2. MINIATURE SATELLITES (BELOW 10KG), NUMBER OF LAUNCHES, ASIA-PACIFIC, 2017 - 2022
  1. Figure 2:  
  2. SATELLITE MASS (ABOVE 10KG) BY REGION, NUMBER OF SATELLITES LAUNCHED, ASIA-PACIFIC, 2017 - 2022
  1. Figure 3:  
  2. SPENDING ON SPACE PROGRAMS BY REGION, USD, ASIA-PACIFIC, 2017 - 2022
  1. Figure 4:  
  2. ASIA-PACIFIC MILITARY SATELLITE MARKET, VALUE, USD, 2017 - 2029
  1. Figure 5:  
  2. VALUE OF MILITARY SATELLITE MARKET BY SATELLITE MASS, USD, ASIA-PACIFIC, 2017 - 2029
  1. Figure 6:  
  2. VALUE SHARE OF MILITARY SATELLITE MARKET BY SATELLITE MASS, %, ASIA-PACIFIC, 2017 VS 2023 VS 2029
  1. Figure 7:  
  2. VALUE OF 10-100KG MARKET, USD, ASIA-PACIFIC, 2017 - 2029
  1. Figure 8:  
  2. VALUE OF 100-500KG MARKET, USD, ASIA-PACIFIC, 2017 - 2029
  1. Figure 9:  
  2. VALUE OF 500-1000KG MARKET, USD, ASIA-PACIFIC, 2017 - 2029
  1. Figure 10:  
  2. VALUE OF BELOW 10 KG MARKET, USD, ASIA-PACIFIC, 2017 - 2029
  1. Figure 11:  
  2. VALUE OF ABOVE 1000KG MARKET, USD, ASIA-PACIFIC, 2017 - 2029
  1. Figure 12:  
  2. VALUE OF MILITARY SATELLITE MARKET BY ORBIT CLASS, USD, ASIA-PACIFIC, 2017 - 2029
  1. Figure 13:  
  2. VALUE SHARE OF MILITARY SATELLITE MARKET BY ORBIT CLASS, %, ASIA-PACIFIC, 2017 VS 2023 VS 2029
  1. Figure 14:  
  2. VALUE OF GEO MARKET, USD, ASIA-PACIFIC, 2017 - 2029
  1. Figure 15:  
  2. VALUE OF LEO MARKET, USD, ASIA-PACIFIC, 2017 - 2029
  1. Figure 16:  
  2. VALUE OF MEO MARKET, USD, ASIA-PACIFIC, 2017 - 2029
  1. Figure 17:  
  2. VALUE OF MILITARY SATELLITE MARKET BY SATELLITE SUBSYSTEM, USD, ASIA-PACIFIC, 2017 - 2029
  1. Figure 18:  
  2. VALUE SHARE OF MILITARY SATELLITE MARKET BY SATELLITE SUBSYSTEM, %, ASIA-PACIFIC, 2017 VS 2023 VS 2029
  1. Figure 19:  
  2. VALUE OF PROPULSION HARDWARE AND PROPELLANT MARKET, USD, ASIA-PACIFIC, 2017 - 2029
  1. Figure 20:  
  2. VALUE OF SATELLITE BUS & SUBSYSTEMS MARKET, USD, ASIA-PACIFIC, 2017 - 2029
  1. Figure 21:  
  2. VALUE OF SOLAR ARRAY & POWER HARDWARE MARKET, USD, ASIA-PACIFIC, 2017 - 2029
  1. Figure 22:  
  2. VALUE OF STRUCTURES, HARNESS & MECHANISMS MARKET, USD, ASIA-PACIFIC, 2017 - 2029
  1. Figure 23:  
  2. VALUE OF MILITARY SATELLITE MARKET BY APPLICATION, USD, ASIA-PACIFIC, 2017 - 2029
  1. Figure 24:  
  2. VALUE SHARE OF MILITARY SATELLITE MARKET BY APPLICATION, %, ASIA-PACIFIC, 2017 VS 2023 VS 2029
  1. Figure 25:  
  2. VALUE OF COMMUNICATION MARKET, USD, ASIA-PACIFIC, 2017 - 2029
  1. Figure 26:  
  2. VALUE OF EARTH OBSERVATION MARKET, USD, ASIA-PACIFIC, 2017 - 2029
  1. Figure 27:  
  2. VALUE OF NAVIGATION MARKET, USD, ASIA-PACIFIC, 2017 - 2029
  1. Figure 28:  
  2. VALUE OF SPACE OBSERVATION MARKET, USD, ASIA-PACIFIC, 2017 - 2029
  1. Figure 29:  
  2. VALUE OF OTHERS MARKET, USD, ASIA-PACIFIC, 2017 - 2029
  1. Figure 30:  
  2. NUMBER OF STRATEGIC MOVES OF MOST ACTIVE COMPANIES, ASIA-PACIFIC MILITARY SATELLITE MARKET, ASIA-PACIFIC, 2017 - 2029
  1. Figure 31:  
  2. TOTAL NUMBER OF STRATEGIC MOVES OF COMPANIES, ASIA-PACIFIC MILITARY SATELLITE MARKET, ASIA-PACIFIC, 2017 - 2029
  1. Figure 32:  
  2. MARKET SHARE OF ASIA-PACIFIC MILITARY SATELLITE MARKET, %, ASIA-PACIFIC, 2022

Asia-Pacific Military Satellite Industry Segmentation

10-100kg, 100-500kg, 500-1000kg, Below 10 Kg, above 1000kg are covered as segments by Satellite Mass. GEO, LEO, MEO are covered as segments by Orbit Class. Propulsion Hardware and Propellant, Satellite Bus & Subsystems, Solar Array & Power Hardware, Structures, Harness & Mechanisms are covered as segments by Satellite Subsystem. Communication, Earth Observation, Navigation, Space Observation, Others are covered as segments by Application.

  • Asia-Pacific has seen a significant increase in the demand for military satellites to accommodate a wide range of satellite orbits, including low Earth orbit (LEO), medium Earth orbit (MEO), and geostationary Earth orbit (GEO). This demand has been driven by the growing need for satellite-based communication, navigation, and remote sensing services.
  • LEO satellites have become increasingly popular for a wide range of applications, including Earth observation, weather forecasting, and communication. The demand for LEO satellites has been particularly strong in China, where companies such as Spacety and Chang Guang Satellite Technology Co. Ltd offer satellite buses for LEO missions. China has been active in this region with the launch of the Gao Fen series satellites.
  • MEO satellites have become increasingly important for global navigation and positioning services such as GPS and Galileo. In the region, China has been a leader in this area with the launch of the BeiDou navigation system.
  • GEO satellites are particularly important for communication and broadcasting services, such as television and the Internet. The demand for GEO satellites has been particularly strong in India, where companies such as ISRO and Antrix Corporation Ltd have been developing advanced satellite buses for communication missions. China has also been investing heavily in GEO satellites, with the launch of the Zhongxing series of communication satellites.
Satellite Mass
10-100kg
100-500kg
500-1000kg
Below 10 Kg
above 1000kg
Orbit Class
GEO
LEO
MEO
Satellite Subsystem
Propulsion Hardware and Propellant
Satellite Bus & Subsystems
Solar Array & Power Hardware
Structures, Harness & Mechanisms
Application
Communication
Earth Observation
Navigation
Space Observation
Others
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Market Definition

  • Application - Various applications or purposes of the satellites are classified into communication, earth observation, space observation, navigation, and others. The purposes listed are those self-reported by the satellite’s operator.
  • Category - North America Space Propulsion Market
  • End User - The primary users or end users of the satellite is described as civil (academic, amateur), commercial, government (meteorological, scientific, etc.), military. Satellites can be multi-use, for both commercial and military applications.
  • Launch Vehicle MTOW - The launch vehicle MTOW (maximum take-off weight) means the maximum weight of the launch vehicle during take-off, including the weight of payload, equipment and fuel.
  • Orbit Class - The satellite orbits are divided into three broad classes namely GEO, LEO, and MEO. Satellites in elliptical orbits have apogees and perigees that differ significantly from each other and categorized satellite orbits with eccentricity 0.14 and higher as elliptical.
  • Propulsion tech - Under this segment, different types of satellite propulsion systems have been classified as electric, liquid-fuel and gas-based propulsion systems.
  • Satellite Mass - Under this segment, different types of satellite propulsion systems have been classified as electric, liquid-fuel and gas-based propulsion systems.
  • Satellite Subsystem - All the components and subsystems which includes propellants, buses, solar panels, other hardware of satellites are included under this segment.
Keyword Definition
Attitude Control The orientation of the satellite relative to the Earth and the sun.
INTELSAT The International Telecommunications Satellite Organization operates a network of satellites for international transmission.
Geostationary Earth Orbit (GEO) Geostationary satellites in Earth orbit 35,786 km (22,282 mi) above the equator in the same direction and at the same speed as the earth rotates on its axis, making them appear fixed in the sky.
Low Earth Orbit (LEO) Low Earth Orbit satellites orbit from 160-2000km above the earth, take approximately 1.5 hours for a full orbit and only cover a portion of the earth’s surface.
Medium Earth Orbit (MEO) MEO satellites are located above LEO and below GEO satellites and typically travel in an elliptical orbit over the North and South Pole or in an equatorial orbit.
Very Small Aperture Terminal (VSAT) Very Small Aperture Terminal is an antenna that is typically less than 3 meters in diameter
CubeSat CubeSat is a class of miniature satellites based on a form factor consisting of 10 cm cubes. CubeSats weigh no more than 2 kg per unit and typically use commercially available components for their construction and electronics. 
Small Satellite Launch Vehicles (SSLVs) Small Satellite Launch Vehicle (SSLV) is a three-stage Launch Vehicle configured with three Solid Propulsion Stages and a liquid propulsion-based Velocity Trimming Module (VTM) as a terminal stage
Space Mining Asteroid mining is the hypothesis of extracting material from asteroids and other asteroids, including near-Earth objects.
Nano Satellites Nanosatellites are loosely defined as any satellite weighing less than 10 kilograms.
Automatic Identification System (AIS) Automatic identification system (AIS) is an automatic tracking system used to identify and locate ships by exchanging electronic data with other nearby ships, AIS base stations, and satellites. Satellite AIS (S-AIS) is the term used to describe when a satellite is used to detect AIS signatures.
Reusable launch vehicles (RLVs) Reusable launch vehicle (RLV) means a launch vehicle that is designed to return to Earth substantially intact and therefore may be launched more than one time or that contains vehicle stages that may be recovered by a launch operator for future use in the operation of a substantially similar launch vehicle.
Apogee The point in an elliptical satellite orbit which is farthest from the surface of the earth. Geosynchronous satellites which maintain circular orbits around the earth are first launched into highly elliptical orbits with apogees of 22,237 miles.
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Research Methodology

Mordor Intelligence follows a four-step methodology in all our reports.

  • Step-1: Identify Key Variables: In order to build a robust forecasting methodology, the variables and factors identified in Step-1 are tested against available historical market numbers. Through an iterative process, the variables required for market forecast are set and the model is built on the basis of these variables.
  • Step-2: Build a Market Model: Market-size estimations for the historical and forecast years have been provided in revenue and volume terms. For sales conversion to volume, the average selling price (ASP) is kept constant throughout the forecast period for each country, and inflation is not a part of the pricing.
  • Step-3: Validate and Finalize: In this important step, all market numbers, variables and analyst calls are validated through an extensive network of primary research experts from the market studied. The respondents are selected across levels and functions to generate a holistic picture of the market studied.
  • Step-4: Research Outputs: Syndicated Reports, Custom Consulting Assignments, Databases & Subscription Platforms.
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Asia-Pacific Military Satellite Market Research FAQs

The Asia-Pacific Military Satellite Market size is expected to reach USD 20.36 billion in 2024 and grow at a CAGR of 11.30% to reach USD 34.77 billion by 2029.

In 2024, the Asia-Pacific Military Satellite Market size is expected to reach USD 20.36 billion.

Airbus SE, China Aerospace Science and Technology Corporation (CASC), Innovative Solutions in Space BV, Mitsubishi Heavy Industries and Thales are the major companies operating in the Asia-Pacific Military Satellite Market.

In the Asia-Pacific Military Satellite Market, the LEO segment accounts for the largest share by orbit class.

In 2024, South Korea accounts for the largest share by country in the Asia-Pacific Military Satellite Market.

In 2023, the Asia-Pacific Military Satellite Market size was estimated at USD 17.87 billion. The report covers the Asia-Pacific Military Satellite Market historical market size for years: 2017, 2018, 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Asia-Pacific Military Satellite Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.

Asia-Pacific Military Satellite Industry Report

Statistics for the 2024 Asia-Pacific Military Satellite market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Asia-Pacific Military Satellite analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.

Asia-Pacific Military Satellite Market Report Snapshots

Asia-Pacific Military Satellite Market SIZE & SHARE ANALYSIS - GROWTH TRENDS & FORECASTS UP TO 2029