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Global Satellite Manufacturing Market Estimated to Reach $24.0 Billion by 2026

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Global Satellite Manufacturing Market Estimated to Reach $24.0 Billion by 2026

October 27
23:54 2021
Global Satellite Manufacturing Market Estimated to Reach $24.0 Billion by 2026
Satellite Manufacturing Market
Rise in Adoption of Satellites in Military and Space Applications Along With Increased R&d Activities Are Driving the Growth of the Satellite Manufacturing Market.

The Global Satellite Manufacturing Market is estimated to reach $24.0 billion by 2026, growing at a CAGR of 3.2% during 2021-2026. Satellite are launched into the space to provide various services such as telemetry, remote sensing satellite, automatic identification system, surveillance, communication and others. Major drivers for satellite manufacturing market growth are surge in utilization of satellites for military surveillance and other defense applications. There is a requirement of more data bandwidth and reliable communication infrastructure to the military for meeting the growing demand from UAVs and modern equipment. Surge in satellite based telemetry and geostationary  applications, development of all-electric propulsion systems for use in sun-synchronous orbit satellites along with the growth in R&D space activities are driving the growth of the market.

Satellite Manufacturing Market Segment Analysis – By Type

By Type the market is segmented into Communication Satellite, Remote Sensing Satellite, Navigation Satellite, Geocentric Orbit type satellites, Global Positioning System, Geostationary Satellites, Drone Satellite, Ground Satellite, Polar Satellite, Nano Satellites, CubeSats, SmallSats. Communication satellite are dominating the market at 24.5% in 2020 owing to its large use in television, telephone, radio, internet and military applications. Communication satellite uses radio frequencies and microwave frequencies to allow communication between separated geographical points on the Earth. Communication satellites are used in variety of applications such as long-distance telephone transmission, gathering intelligence in military, navigation of ships and aircrafts, weather forecasting and others owing to which it has a demand in the market. These factors have boosted the market growth.

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Satellite Manufacturing Market Segment Analysis – By Application

By Application the market is segmented into Military & Government, Commercial. Military & Government is witnessing a significant growth in the market. Military and Government sector is witnessing a significant growth in the market at 3.9% CAGR through 2026. In Military and government the satellites are used for intelligence gathering, military communications, and navigation purposes. The private and commercial satellites have become a significant provider of satellite services in the military applications. A continuous picture of location and movements of the solders are provided to the commanders through the combination of GPS –derived positioned data and advanced communication along with variety of space and airborne sensors. These factors are driving the growth of the market.

Satellite Manufacturing Market Segment Analysis – By Geography

By Geography the Satellite Manufacturing Market is dominated by North America with a market share 42.6% in 2020. Presence of robust framework for designing and manufacturing of satellites is one of the predominant factors driving the market in this region. The presence of the major key players and most advanced technological developments in this region is also boosting the growth of the market. On December 2919, National Defense Authorization acts was signed by President Trump. This act created a Space Force and is responsible for organizing, training, and equipping space forces command for the U.S military. The presence of one of the biggest space research organization “NASA” has also propelled the manufacturing of satellites with advanced technology which are involved in the R&D activities. These factors are driving the market in North America.

Satellite Manufacturing Market Drivers

Surge in use of satellites in Military applications:

Surge of satellites in military applications have resulted in the development of small bodyguard satellite and space based laser defenses to protect important space assets. Many of the countries are purchasing satellites to support their own strategic Military activities. In APAC region China is the fastest growing country in civil, military and commercial capabilities. China is planning to launch two BeiDou Satellites into geostationary orbit in 2020. China plans to follow up this mission in late 2020 with Chang’e-5, a mission that aims to return samples from the Moon back to Earth for further study. U.S and other countries are also involved in the planning and launch of the satellites aiming to strengthen their military activities and communication within their armed forces. These factors are driving the market growth.

Technological advancements and growth in internet:

The rising use of internet applications have resulted in the manufacturing of more advanced satellite for communication purposes. The satellite are connected to the ground stations through which they are controlled. The antennas on satellites and ground stations, the landlines that connect ground stations to terrestrial networks, and the user terminals that connect to satellites are all potential intrusion points for cyber-attacks. Cyber-attacks can be used to monitor data traffic patterns. A cyber- attack on space systems can result in data loss, widespread disruptions, and even permanent loss of a satellite. To control all these situations the major key players are manufacturing the satellites with advanced capabilities. Rising internet penetration is propelling the growth of satellites used for communication purposes. These factors are fueling the growth of the market.

Satellite Manufacturing Market Challenges

Complex Programming and Design related Risks:

Although the satellite are used in communications and many space missions but most of the space related missions fails due the complexity related to the designing and programming of the satellites. The designers relay on numerical modelling of vehicle aerodynamics rather than actual wind tunnel tests. These factors are causing major restrain in the market growth.

Satellite Manufacturing Market Landscape

Satellite Manufacturing Market is dominated by major companies such as Airbus Defense and Space, OHB SE, Boeing Defense, Space and Security, JSC Information Satellite Systems, Lockheed Martin, Northrop Grumman, Space Systems, Thales Alenia Space, Capella Space, Ursa Space Systems among others.

Acquisitions/Technology Launches

In January 2020, Capella Space evolved its satellite design “testbed satellite”. It enables on–demand observation from anywhere on Earth. This design is anticipated to deliver the most flexible and frequent high-quality images in the market.

Key Takeaways

The rise in the adoption of satellites in Military and Space applications along with increased R&D activities are driving the growth of the market.

Military sector is witnessing a significant growth of the market owing to the requirement of advanced communication systems for completing their missions and tracking the exact position and movement of their soldiers.

North America is witnessing a significant growth of the market owing to the presence of one of the biggest space research organization “NASA” in which R&D activities are majorly performed along with the new policies organized by the government related to the satellites in the Military and Defense sector.

Related Reports:

A. Satellite Remote Sensing Services Market

https://www.industryarc.com/Report/19399/satellite-remote-sensing-services-market.html

B. Satellite Network Equipment Market

https://www.industryarc.com/Report/19400/satellite-network-equipment-market.html

For more Aerospace and Defense Market related reports, please click here

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