Satellite Manufacturing And Launch Market
Satellite Manufacturing And Launch Market Size were valued at USD 22.9 billion in 2022. The Satellite Manufacturing And Launch market industry is projected to grow from USD 26.10 Billion in 2023 to USD 57.33 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 14.01% during the forecast period (2023 - 2030).
The critical use of satellites in military surveillance is estimated to enhance satellite manufacturing and launch market size. The aerospace defense reports are made by Market Research Future, which includes market options for development. A 14.01% CAGR is foreseen to guide the growth of the market in the forecast period.
The upsurge in the satellite-based telemetry applications is anticipated to create a positive outlook for development in the satellite manufacturing and launch market share in the impending period. The availability of all-electric propulsion systems for satellites is predicted to encourage market companies in the future.
Segmental Analysis:
Satellite Manufacturing and Launch Market Segmentation evaluation on the basis of end-users, applications, orbit locations, and regions. Based on the orbit locations, the satellite manufacturing and launch market has been segmented into geostationary (GEO) satellites, low earth orbit (LEO) satellites, and sun-synchronous orbit satellites. Based on application, the market has been segmented into reconnaissance satellites, navigation satellites, communications satellites, remote sensing satellites, and others. Based on the end-user, the market has been segmented into navigation, internet services, and weather forecast. On the basis of regions, the satellite manufacturing and launch market is segmented into APAC, Europe, North America, and other substantial regions.
Detailed Regional Analysis:
The regional revision of the satellite manufacturing and launch market includes regions such as APAC, Europe, North America, and other substantial regions. The markets in the regions of Europe and North America have conventionally advanced and dispatched most satellites. Though, the increasing need for satellite-based infrastructure in evolving countries such as China and India has backed the progress of the market in the Asia Pacific. Also, there is an improved demand for satellites from the government, commercial, and military sectors. The national markets in the U.S. and Canada are the foremost satellite manufacturing and launch markets in the Americas region for space-based programs. Individually the countries have progressive infrastructures and are included in several space programs. In the U.S. national market, the request from the military and defense sector has been growing mainly for communications, navigation, and spy satellites. At present, the nations of the U.S., Russia, China, Japan, andFtred a small number of the European nations have a monopoly in the area of satellite construction. Though, along with the mounting demand for nano and microsatellites, it is anticipated that the production base of satellites will amplify to numerous regions of the world.
Latest Industry News
- Developed by Vietnamese engineers, a miniaturized satellite called MicroDragon, is scheduled to be launched in December with the assistance of Japan. The launch was announced on 18 OCT 2018 by the Vietnam National Space Center (VNSC), as part of a joint Vietnam-Japan project on disaster and climate change prevention using earth observation satellites. 22 OCT 2018
- Microsatellite launch company Vector has obtained US $70 mn in a Series B funding round led by Kodem Growth Partners, in conjunction with Morgan Stanley Alternative Investment Partners. 22 OCT 2018.
Competitive Analysis:
Following are the Satellite Manufacturing And Launch Market Competitive Landscape The significant companies in the satellite manufacturing and launch market are Innovative Solutions in Space (Netherlands), Boeing Defence, Space Security (U.S.), Airbus Defence and Space (Germany), Orbital ATK (U.S.), SSL (U.S.), Arianespace (France), Lockheed Martin (U.S.), ISS Reshetnev (Russia), ViaSat Inc. (U.S.), and GeoOptics
The tumultuous nature of global markets is currently estimated to create significant hindrances in the development of the market in the forecast period. The production technology and processes are estimated to undergo a considerable overhaul to be able to meet the expectations of the new reality in the business domains. The benefits of mergers and collaborations are likely to be more pronounced in this context as pooling in resources and capabilities can lead to the creation of a stronger competitive advantage for companies in the market.
The inducement provided by governments is estimated to create a positive outlook for the development of the market in the impending period. The market is estimated to be further motivated by the policies that will be framed to create a conducive working atmosphere in the coming period. The need for innovation and incorporation of more value in products is estimated to induce the global market constructively to expand in the forecast period.
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