The global satellite manufacturing and launch system market size reached US$ 19.4 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 25.0 Billion by 2028, exhibiting a growth rate (CAGR) of 4.1% during 2023-2028.
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.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global satellite manufacturing and launch system market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on segment, satellite type, application and end-use sector.
Breakup by Segment:
Satellite Launch System
Breakup by Satellite Type:
LEO (Low Earth Orbit) Satellites
MEO (Middle Earth Orbit) Satellites
GEO (Geosynchronous Equatorial Orbit) Satellites
Beyond GEO Satellites
Breakup by Application:
Earth Observation Services
Research and Development
Breakup by End-Use Sector:
Military and Government
Breakup by Region:
Middle East and Africa
The report has also analysed the competitive landscape of the market 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, Viasat Inc., etc.
Base Year of the Analysis
Segment, Satellite Type, Application, End-Use Sector, Region
Asia Pacific, Europe, North America, Latin America, Middle East and Africa
United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
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.
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Key Questions Answered in This Report
The global satellite manufacturing and launch system market was valued at US$ 19.4 Billion in 2022.
We expect the global satellite manufacturing and launch system market to exhibit a CAGR of 4.1% during 2023-2028.
The sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations across several nations, resulting in the temporary closure of numerous satellite manufacturing launch systems.
The rising adoption of satellites for military surveillance and related defense applications, along with the increasing focus on reducing the overall launch costs of satellites, is primarily driving the global satellite manufacturing and launch system market.
Based on the segment, the global satellite manufacturing and launch system market can be categorized into satellite manufacturing and satellite launch system. Currently, satellite manufacturing accounts for the majority of the global market share.
Based on the application, the global satellite manufacturing and launch system market has been segregated into commercial communications, government communications, earth observation services, research and development, navigation, military surveillance, scientific applications, and others. Among these, commercial communications currently hold the largest market share.
Based on the end-use sector, the global satellite manufacturing and launch system market can be bifurcated into military and government, commercial, and others. Currently, the military and government sector exhibits a clear dominance in the market.
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 system market include 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.
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