Pune, India, March 02, 2023 (GLOBE NEWSWIRE) -- The global satellite manufacturing and launch system market size is expected to reach USD 54.17 billion in 2027, exhibiting a CAGR of 12.45% during the forecast period, states Fortune Business Insights, in a report, titled "Satellite Manufacturing and Launch System Market Size, Share & Industry Analysis, and Regional Forecast, 2020-2027." The market size stood at USD 23.83 billion in 2020.
Satellite manufacturing and launch systems are crucial components of the space industry. In recent years, there has been an explosion in the number of satellites being launched, thanks to advancements in technology and reduced costs.
The manufacturing process for satellites is complex and involves a wide range of components. Satellites are typically made up of a number of subsystems, including power, propulsion, communication, and payload. Each of these subsystems must be carefully designed and manufactured to meet specific requirements. One of the most important components of a satellite is its payload. This is the equipment that the satellite is designed to carry, such as cameras, sensors, or communication equipment. Payloads are typically custom-designed for specific missions, and they must be carefully tested and calibrated before being integrated into the satellite.
Get a Free Sample Research Report:
The List of Companies Covered in the Satellite Manufacturing and Launch System Market report are:
- Airbus S.A.S (The Netherlands)
- Arianespace (France)
- Boeing (The U.S.)
- GeoOptics (Canada)
- ISISPACE GROUP (The Netherlands)
- JSC Academician M.F. Reshetnev (Russia)
- Lockheed Martin Corporation (The U.S.)
- Maxar Technologies (The U.S.)
- SpaceX (The U.S.)
- ViaSat Inc. (The U.S.)
Report Scope & Segmentation:
| Report Coverage | Details |
| Forecast Period | 2020-2027 |
| Forecast CAGR | 12.45% |
| 2027 Value Projection | USD 54.17 Billion |
| Base Year | 2019 |
| Historical Data | 2016-2018 |
| No. of Pages | 165 |
| Segments Covered | By Type Analysis, By Application Analysis, By End Use Analysis |
Browse Detailed Summary of Research Report with TOC:
https://www.fortunebusinessinsights.com/satellite-manufacturing-and-launch-systems-market-103549
The report on the satellite manufacturing and launch system market includes:
- Remarkable insights into the market
- Meticulous scrutiny of the segments
- Latest developments and drivers
- Vital information about key players
- Dominant regions
- Notable Development
Market Overview:
Heavy Investments in Space Missions to Bolster Growth
The surging investment by government and space agencies in developing technologically advanced satellite launch vehicles is expected to foster healthy growth of the satellite manufacturing and launch system industry. According to the Department of Defense (DOD), the USD 14.1 billion was requested for National Security Space (NSS) in 2020 compared to the USD 12.3 billion in 2019. Out of the total amount, USD 8.4 billion, USD 2.6 billion, and USD 3.0 billion are allocated for the research, development, test, evaluation (RDT&E), procurement, and operation & maintenance. Furthermore, the increasing collaboration and agreement between space companies and government organizations to develop innovative SLVs will foster the satellite manufacturing and launch system market growth. For instance, SpaceX collaborated with NASA to design and develop reusable satellite launch vehicles to minimize the overall program cost and space debris around the earth's orbit. Similarly, Europe Space Agency (ESA) increased its focus on Ariane 6, an expendable launch system, thus boosting the satellite manufacturing and launch system production.
Suspended Satellite Launches to Inhibit Market during Coronavirus
The lockdown in major countries such as the U.S., France, Germany, China, India, and Japan severely impacted the space industry, suspending all space-related activities. Major companies such as Space X, United Launch Alliance (ULA), Rockets Labs, and Blue Origin have reformed their production structure for launch vehicles and satellites. According to the U.S. Department of Commerce, around 92% of space-based firms with research and development as a primary business capability were small businesses. These firms experienced a major hit from the pandemic. Moreover, prominent companies' implementation of various strategies to sustain recovery can subsequently elevate the satellite manufacturing and launch system market amid pandemic.
Inquire Before Buying This Research Report:
Detailed Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Key Industry Developments –Mergers, Acquisitions and Partnerships
- Latest technological Advancements
- Porters Five Forces Analysis
- Supply Chain Analysis
- Quantitative Insights- Impact of COVID-19 Pandemic on Satellite Manufacturing and Launch System Market
- Impact of COVID-19 on Global Satellite Manufacturing and Launch System Market
- Steps Taken by Industry/Companies/Governments to Overcome the Impact
- Key Developments in The Industry in Response To COVID-19 Pandemic
- Potential Opportunities Due to COVID-19 Outbreak
TOC Continued…!
Regional Analysis:
Government Support for Reusable Launch Systems to Promote Growth in North America
The satellite manufacturing and launch system market in North America is expected to exhibit a rapid growth rate during the forecast period due to the high investments by the U.S. government and space agencies in manufacturing reusable launch systems. For instance, in September 2019, NASA awarded a contract worth USD 4,600 million to Lockheed Martin Corporation to supply six reusable Orion crew capsules integrated with lightweight 3D printed modules. Asia Pacific is expected to hold the largest share during the forecast period. The growth is attributed to growing satellite launch infrastructure and satellite launch programs from China, India, and Australia. For instance, in November 2020, the Indian Space Research Organization (ISRO) successfully launched 10 satellites consisting of earth observation satellites and payload.
Speak to Our Expert:
Read Related Insights:
Homeland Security and Emergency Management Market Size & Report 2027
Offshore Helicopter Services Market Size, Trends, Share | Report, 2026
Airport Security Market Size, Share, Growth | Global Report, 2027
About Us:
Fortune Business Insights™ delivers accurate data and innovative corporate analysis, helping organizations of all sizes make appropriate decisions. We tailor novel solutions for our clients, assisting them to address various challenges distinct to their businesses. Our aim is to empower them with holistic market intelligence, providing a granular overview of the market they are operating in.
Address:
Fortune Business Insights Pvt. Ltd.
9th Floor, Icon Tower, Baner –
Mahalunge Road, Baner, Pune-411045,
Maharashtra, India.
Phone:
US: +1 424 253 0390
UK: +44 2071 939123
APAC: +91 744 740 1245
Email: sales@fortunebusinessinsights.com
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
