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The global satellite manufacturing and launch market exhibited moderate growth during 2015-2020. Looking forward, IMARC Group expects the market to grow at a CAGR of around 3% during 2021-2026. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor.
A satellite is a human-made spacecraft manufactured to orbit the Earth and other celestial objects to retrieve and process topographical information. Satellites are usually made using light-weight metals such as titanium and aluminum, along with composites and alloys, including aluminum-beryllium and nickel-cadmium. Currently, satellite manufacturing and launch organizations deal with Low Earth Orbit (LEO), geostationary (GEO) and sun-synchronous orbit satellites, which are used for remote communication, sensing, surveillance, transmission, traffic control and telemetry.
The increasing utilization of satellites for military surveillance and related defense applications is one of the key factors driving the growth of the market. They are also used for various commercial applications, such as global positioning services (GPS), satellite-based telemetry and internet connectivity. Furthermore, a reduction in the overall launch costs of satellites is another factor providing a boost to the market growth. Additionally, miniaturization of satellites with increased payload capabilities is also creating a positive outlook for the market. These satellites are compact in size and enable additional load on a single launch vehicle, which enhances the profit margins for the organizations. They are considered as one of the most effective solutions for cost reduction while ensuring optimum performance. Apart from being used indirectly to operate larger satellites, they are also widely utilized by research institutes and universities for technology demonstration sessions. Other factors, including the utilization of 3D technology in the manufacturing process, along with the implementation of favorable government policies to promote space research and increasing investments in research and development (R&D) by the private sector, are projected to drive the market further.
Breakup by Segment:
Breakup by Satellite Type:
Breakup by Application:
Breakup by End-Use Sector:
Breakup by Region:
The report has also analysed the competitive landscape of the market with some of the key players being Airbus SE, Arianespace, Blue Origin LLC, Boeing, Geooptics Inc., Innovative Solutions in Space, Lockheed Martin Corporation, Northrop Grumman Corporation., Raytheon Company, Space Exploration Technologies Corporation, Thales Group, Viasat Inc., etc.
We expect the global satellite manufacturing and launch market to exhibit a CAGR of around 3% during 2021-2026.
The growing adoption of satellites in the commercial sector for global positioning services (GPS), satellite-based telemetry, and internet connectivity, is currently driving the global satellite manufacturing and launch market.
The sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations across several nations resulting in delay in R&D activities for satellite manufacturing and launch, thereby limiting the overall market growth.
Based on the satellite type, the global satellite manufacturing and launch market can be segmented into LEO (Low Earth Orbit) satellites, MEO (Middle Earth Orbit) satellites, GEO (Geosynchronous Equatorial Orbit) satellites, and beyond GEO satellites. Among these, GEO (Geosynchronous Equatorial Orbit) satellites currently hold the majority of the total market share.
Based on the application, the global satellite manufacturing and launch market has been divided into commercial communications, government communications, earth observation services, research and development, navigation, military surveillance, scientific applications, and others. Currently, commercial communications exhibit a clear dominance in the market.
Based on the end use sector, the global satellite manufacturing and launch market can be categorized into military and government, commercial, and other. Among these, the military and government sector accounts for the majority of the global market share.
On a regional level, the market has been classified into North America, Asia Pacific, Europe, Latin America, and Middle East and Africa, where North America currently dominates the global market.
Some of the major players in the global satellite manufacturing and launch market include Airbus SE, Arianespace, Blue Origin LLC, Boeing, Geooptics Inc., Innovative Solutions in Space, Lockheed Martin Corporation, Northrop Grumman Corporation., Raytheon Company, Space Exploration Technologies Corporation, Thales Group, Viasat Inc., etc.
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