Satellite Manufacturing and Launch Market Size, Share & Growth

 


Satellite Manufacturing and Launch Market

The Satellite Manufacturing and Launch Market is projected to grow at a remarkable CAGR during the forecast period (2019-2026).

The factors driving the growth of Satellite Manufacturing and Launch Market includes growing demand for satellites from Military and commercial sectors, extensive involvement of key players in the manufacturing of affordable and small satellites. According to Satellite Manufacturing and Launch Market Analysis, the growing application of Satellites in communication, broadcasting, navigation, and remote sensing along with increasing Governments expenditure to fund the Space agencies, are boosting the growth of Satellite Manufacturing and Launch Market. The United States Administration is planning to increase NASA’s budget to USD 26 Billion for 2023, out of which, $7.6 billion will be allocated for deep space exploration and sizeable $2.4 billion will be distributed to monitor climate and weather through Earth-observing satellites.

However, the growth of Satellite Manufacturers and Launch System is hindered by high intricate, design and development cost linked for developing advanced satellite launch systems.

The prominent players operating in the market are Space Exploration Technologies Corp., Blue Origin, Nothrop Grumman Corp., Raytheon Company, International launch Systems (ILS), Thales Group., Airane Group, Boeing, Airbus SE, and Lockheed Martin Corp. among others.

Type: Segment Analysis

Based on the type, the satellite manufacturing segment, captured the highest market share in 2019 due to growing demand of satellite, majorly for communication and surveillance to enhance the overall manufacturing process.

Application: Segment Analysis

Based on application, the Communication Satellite segment dominated the market in 2019 due to its growing application in Telephone, Digital Cinema, military, and Television along with growing demand for Satellite Internet Services. Starlink has expanded its operation in 32 countries, which will provide high-speed and low latency broadband internet through its state-of-the-art Satellite Internet Network, which will propel the Satellite Manufacturing and Launch Market Growth in the International Markets.

Regional: Segment Analysis 

Based on the region, North America, dominated the market in 2019 due to increased manufacturing of reusable launch system along with the growing involvement of major key players such as Lockheed Martin Corporation and Boeing in the manufacturing process. On the other hand, Asia-Pacific region is expected to grow at a significant rate over the forecast period due to growing numbers of Satellite Launch Programs over the years, for instance ISRO launched 129 Indian origin satellites and 342 foreign satellites from 2016-2021.

Market Segmentation

By Type

  • Satellite Manufacturing
  • Launch Services

By Application

  • Communication Satellite
  • Military Surveillance
  • Navigation Satellite
  • Earth Observation Satellite
  • Others

    By Region

  • Asia Pacific
    • China
    • Japan
    • India
    • Rest of APAC
  • North America
    • United States of America
    • Canada
  • Europe
    • United Kingdom
    • Germany
    • France
    • Spain
    • Rest of Europe
  • RoW
    • Brazil
    • South Africa
    • Saudi Arabia
    • UAE

About GMI Research

GMI Research is a market research and consulting firm which provides market insights and intelligence across 12 major sectors helping our clients in making effective investment and business decisions.

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