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The global satellite manufacturing launch system market was valued at US$ 18.6 Billion in 2021.
We expect the global satellite manufacturing launch system market to exhibit a CAGR of 4.7% during 2022-2027.
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 launch system market.
Based on the segment, the global satellite manufacturing 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 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 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 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, Viasat Inc., etc.
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