Pune, India, Nov. 07, 2022 (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, and Regional Forecast, 2020-2027." The market size stood at USD 23.83 billion in 2020.
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List of the Leading Companies Profiled in the Global Satellite Manufacturing and Launch System Market 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.)
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 research, development, testing, 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 satellite manufacturing & 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, the European Space Agency (ESA) increased its focus on Ariane 6, an expendable launch system, thus boosting satellite manufacturing and launch system production.
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https://www.fortunebusinessinsights.com/satellite-manufacturing-and-launch-systems-market-103549
Report Scope and Segmentation-
| Report Coverage | Details |
| Forecast Period | 2020 to 2027 |
| Forecast Period 2020 to 2027 CAGR | 12.45% |
| 2027 Value Projection | USD 54.17 Billion |
| Base Year | 2019 |
| Market Size in 2020 | USD 23.83 Billion |
| Historical Data for | 2016 to 2018 |
| No. of Pages | 156 |
| Segments covered | By Application, By End User |
| Regional Analysis: | Government Support for Reusable Launch Systems to Promote Growth in North America |
Regional Analysis:
Government Support for Reusable Launch Systems to Promote Growth in North America
The global 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.
The Asia Pacific is expected to hold the largest satellite manufacturing and launch system market 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.
Key Development:
October 2020: The Boeing Company was granted a contract worth USD 298 million by the U.S. Space Force for next-generation SATCOM satellites. Under this contract, The Boeing Company is expected to design and develop an intricate military satellite and payload architecture system.
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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
- Global Satellite Manufacturing and Launch System Market Analysis, Insights and Forecast, 2016-2027
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Type
- Satellite Manufacturing
- Satellite Launch Systems
- Market Analysis, Insights and Forecast – By Application
- Communication Satellite
- Military Surveillance
- Navigation Satellite
- Earth Observation Satellite
- Others
- Market Analysis, Insights and Forecast – By End Use
- Commercial
- Military
- Market Analysis, Insights and Forecast – By Region
- North America
- Europe
- Asia pacific
- The Middle East
- Rest of the world
TOC Continued…!
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