Satellite Manufacturing and Launch Market Analysis, Growth, Trends And Forecast
Posted by Nita on April 23rd, 2021
Today, satellites are used for a huge variety of activities that include communication, remote sensing, surveillance, telemetry, transmission, traffic control, and more. Market Research Future (MRFR) has published a research report about the global satellite manufacturing and launch market that anticipates decent gains for the market with 6% CAGR (Compound Annual Growth Rate) during the forecast period between 2016 and 2021.
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.
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.
The key players in the global satellite manufacturing and launch market include 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).
Latest Industry News
Like it? Share it!
About the AuthorNita
Joined: November 14th, 2019
Articles Posted: 620
More by this author