Global Satellite Manufacturing and Launch System Market to Grow at 3.8% During 2024-2032, Bolstered by Development of Reusable Space Launch Vehicles

May 10, 2021 | Aerospace and Defense

According to the latest report by IMARC Group, titled “Satellite Manufacturing and Launch System Market Report by Segment (Satellite Manufacturing, Satellite Launch System), Satellite Type (LEO (Low Earth Orbit) Satellites, MEO (Middle Earth Orbit) Satellites, GEO (Geosynchronous Equatorial Orbit) Satellites, Beyond GEO Satellites), Application (Commercial Communications, Government Communications, Earth Observation Services, Research and Development, Navigation, Military Surveillance, Scientific Applications, and Others), End-Use Sector (Military and Government, Commercial, and Others), and Region 2024-2032, the global satellite manufacturing and launch system market reached a value of US$ 20.3 Billion in 2023. A satellite refers to an artificial spacecraft that is launched into space to orbit the Earth and other celestial objects. It is manufactured to help in recovering and processing topographical information. Satellites are made from lightweight materials such as aluminum or titanium and alloy of aluminum-beryllium and nickel-cadmium. They are generally launched in low earth orbit (LEO), geostationary and sun-synchronous orbits to facilitate communications, telemetry, remote sensing, traffic control, transmission, and surveillance.

Global Satellite Manufacturing and Launch System Market Trends: 

The market is primarily driven by the increasing deployment of satellites for military surveillance and defense applications. The use of unmanned aerial vehicles (UAVs) and modern equipment in the defense industry necessitates extensive data bandwidth and reliable communications, which is propelling the market growth. In addition to this, satellite telemetry finds applications in civil, commercial, government, and military sectors. For instance, researchers use satellite telemetry infrastructure to track the movement of targets, including birds and animals, by following the target using orbiting satellites. Besides this, satellites are employed in commercial applications such as global positioning system (GPS) services and the internet. Moreover, the introduction of miniaturized satellites with increased payload capabilities has enhanced the profit margins for launch organizations. They are cost-effective solutions utilized by research institutes and universities for optimum performance and technology demonstration services. Furthermore, technological advancements in all-electrical propulsion systems for satellites and the development of reusable space launch vehicles are positively influencing the market growth. Looking forward, the market is expected to grow at a CAGR of 3.8% during the forecast period (2024-2032).

Market Summary: 

  • Based on the segment, the market has been bifurcated into satellite manufacturing and satellite launch system.
  • On the basis of the satellite type, the market has been classified into LEO (low earth orbit), MEO (middle earth orbit), GEO (Geosynchronous equatorial orbit), and beyond GEO satellites.
  • The market has been categorized based on the application into commercial communications, government communications, earth observation services, research and development, navigation, military surveillance, scientific applications, and others. At present, commercial communications hold the majority of the market share.
  • On the basis of the end-use sector, the market has been segregated into military and government, commercial, and others. Among these, military and government represent the largest end use sector.
  • Region-wise, North America (the United States and Canada) exhibits a clear dominance in the market. Other regions are Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and Middle East and Africa.
  • The competitive landscape of the market has been examined, with some of the key players being Airbus SE, Arianespace SA, Blue Origin LLC, Boeing, Geooptics Inc., Innovative Solutions in Space (ISISPACE) Group, Lockheed Martin Corporation, Northrop Grumman Corporation., Raytheon Company, Space Exploration Technologies Corporation, Thales Group and Viasat, Inc.

Report Scope:

Report Features Details
Base Year of the Analysis 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Units US$ Billion
Segment Coverage Segment, Satellite Type, Application, End-Use Sector, Region
Region Covered  Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered Airbus SE, Arianespace SA, Blue Origin LLC, Boeing, Geooptics Inc., Innovative Solutions in Space (ISISPACE) Group, Lockheed Martin Corporation, Northrop Grumman Corporation., Raytheon Company, Space Exploration Technologies Corporation, Thales Group and Viasat Inc.
Customization Scope 10% Free Customization
Report Price and Purchase Option Single User License: US$ 3899
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Corporate License: US$ 5899
Post-Sale Analyst Support 10-12 Weeks
Delivery Format PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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Global Satellite Manufacturing and Launch System Market to Grow at 3.8% During 2024-2032, Bolstered by Development of Reusable Space Launch Vehicles
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