Satellite Manufacturing and Launch Market Size Strategies, Industry Growth, Global Analysis, Statistical Forecast 2030
Satellite Manufacturing and Launch Market Size
Satellite Manufacturing and Launch Market Size Valued at USD 57.28 Billion, market Grow at a CAGR Of 14.01% by 2020 -2030. Satellites are used for a huge variety of activities that include communication, remote sensing, surveillance, telemetry, transmission, traffic control, and more.
The key factors driving the growth for global Satellite Manufacturing and Launch Market include growing utilization of satellites for military surveillance and other defense applications. Demand for satellite and for commercial applications like global positioning services (GPS) services and the internet, and satellite-based telemetry applications.
The global satellite manufacturing and launch market have been segmented on the basis of application, end users, orbit location, and region. Based on application, this market has been segmented into communications satellites, navigation satellites, reconnaissance satellites, remote sensing satellites, and others. By end user, the market has been segmented into internet services, navigation, and weather forecast. As per orbit location, the market has been segmented into low earth orbit (LEO) satellites, geostationary (GEO) satellites, and sun-synchronous orbit satellites.
The regional segmentation of the global satellite manufacturing and launch market segments the market into the continent-based regional markets known as North America, Europe, Asia Pacific, and rest of the world (RoW). Due to technological advancement and rapidly growing demand from civil/government, commercial and military sectors, the markets in North America and Europe have been developed for a long time, and countries in these regions have launched maximum satellites. In North America, the United States of America (USA) and Canada have the most advanced infrastructure for launching satellites. In the USA, the demand for satellites from the military and defense sector has been increasing mainly for communications, navigation, and spy satellites. Satellites are sometimes also used to provide directions to the flying drones.
The strong technological capability is necessary for manufacturing satellites. Currently, manufacturing satellites are primarily the forte of USA, Russia, China, Japan and a few of the European countries. However, along with the growing demand for nano and microsatellite, the manufacturing base of satellites is likely to widen to various regions of the world. In Europe, the primary country-specific markets are France, Germany, Italy, and the United Kingdom (UK), followed by the rest of Europe.
Key Players
The key players in the Satellite Manufacturing Companies Market Arianespace (France), Airbus Defence and Space (Germany), Boeing Defence, GeoOptics (Canada), Innovative Solutions in Space (Netherlands), ISS Reshetnev (Russia), Lockheed Martin (USA), Orbital ATK (USA), Space & Security (USA), SSL (USA), and ViaSat Inc. (USA).
The necessity for satellite-based infrastructure in emerging countries such as China and India has contributed to the growth of the Asia Pacific market. In 2017, India broke a new record by launching 104 satellites successfully via a single rocket. Other important country-specific markets in this region are China and Japan, followed by the rest of the Asia Pacific region. Now many countries are requesting the Indian Space Research Organization (ISRO) to launch satellites for them.
In RoW segment, there are many countries all over the world that seek help from countries equipped with satellite manufacturing & launching technology & expertise to launch satellites for them.
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.
Satellite Manufacturing and Launch Market Report Information by Application (Military, Commercial, and Government) by End-user (Weather Forecast, Internet Services, and Navigation), and by Regions - Forecast to 2030 @https://www.marketresearchfuture.com/reports/satellite-manufacturing-launch-market-1255
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