The global satellite manufacturing and launch system market size is expected to reach USD 54.17 billion in 2027, exhibiting a CAGR of 12.45% during the forecast period, states Fortune Business Insights, in a report, titled “Satellite Manufacturing and Launch System Market Size, Share & COVID-19 Impact Analysis, By Type (Satellite Manufacturing and Satellite Launch Systems), By Application (Communication Satellite, Military Surveillance, Navigation Satellite, Earth Observation Satellite, and Others), By End-Use (Commercial and Military) and Regional Forecast, 2020-2027.” The market size stood at USD 23.83 billion in 2020.
The report on the satellite manufacturing and launch system market includes:
Remarkable insights into the market
Meticulous scrutiny of the segments
Latest developments and drivers
Vital information about key players
Heavy Investments in Space Missions to Bolster Growth
The surging investment by government and space agencies in developing technologically advanced satellite launch vehicles is expected to foster healthy growth of the satellite manufacturing and launch system industry. According to the Department of Defense (DOD), the USD 14.1 billion was requested for National Security Space (NSS) in 2020 compared to the USD 12.3 billion in 2019. Out of the total amount, USD 8.4 billion, USD 2.6 billion, and USD 3.0 billion are allocated for the research, development, test, evaluation (RDT&E), procurement, and operation & maintenance.
Furthermore, the increasing collaboration and agreement between space companies and government organizations to develop innovative SLVs will foster satellite manufacturing & launch system market growth. For instance, SpaceX collaborated with NASA to design and develop reusable satellite launch vehicles to minimize the overall program cost and space debris around the earth's orbit. Similarly, the European Space Agency (ESA) increased its focus on Ariane 6, an expendable launch system, thus boosting the satellite manufacturing and launch system production.
Suspended Satellite Launches to Inhibit Market during Coronavirus
The lockdown in major countries such as the U.S., France, Germany, China, India, and Japan severely impacted the space industry, suspending all space-related activities. Major companies such as SpaceX, United Launch Alliance (ULA), Rockets Labs, and Blue Origin have reformed their production structure for launch vehicles and satellites.
According to the U.S. Department of Commerce, around 92% of space-based firms with research and development as a primary business capability were small businesses. These firms experienced a major hit from the pandemic. Moreover, prominent companies' implementation of various strategies to sustain recovery can subsequently elevate the satellite manufacturing and launch system market amid pandemics.
List of the Leading Companies Profiled in the Global Satellite Manufacturing and Launch System Market are:
Airbus S.A.S (The Netherlands)
Boeing (The U.S.)
ISISPACE GROUP (The Netherlands)
JSC Academician M.F. Reshetnev (Russia)
Lockheed Martin Corporation (The U.S.)
Maxar Technologies (The U.S.)
SpaceX (The U.S.)
ViaSat Inc. (The U.S.)
Government Support for Reusable Launch Systems to Promote Growth in North America
The global market in North America is expected to exhibit a rapid growth rate during the forecast period due to the high investments by the U.S. government and space agencies in manufacturing reusable launch systems. For instance, in September 2019, NASA awarded a contract worth USD 4,600 million to Lockheed Martin Corporation to supply six reusable Orion crew capsules integrated with lightweight 3D printed modules.
The Asia Pacific is expected to hold the largest satellite manufacturing and launch system market share during the forecast period. The growth is attributed to growing satellite launch infrastructure and satellite launch programs from China, India, and Australia. For instance, in November 2020, the Indian Space Research Organization (ISRO) successfully launched 10 satellites consisting of earth observation satellites and payload.
October 2020: The Boeing Company was granted a contract worth USD 298 million by the U.S. Space Force for next-generation SATCOM satellites. Under this contract, The Boeing Company is expected to design and develop an intricate military satellite and payload architecture system.
Detailed Table of Content:
Definitions and Assumptions
Key Industry Developments –Mergers, Acquisitions and Partnerships
Latest technological Advancements
Porters Five Forces Analysis
Supply Chain Analysis
Quantitative Insights- Impact of COVID-19 Pandemic on Satellite Manufacturing and Launch System Market
Global Satellite Manufacturing and Launch System Market Analysis, Insights and Forecast, 2016-2027
Key Findings / Summary
Market Analysis, Insights and Forecast – By Type
Satellite Launch Systems
Market Analysis, Insights and Forecast – By Application
Earth Observation Satellite
Market Analysis, Insights and Forecast – By End Use
Market Analysis, Insights and Forecast – By Region
The Middle East
Rest of the world
Impact of COVID-19 on Global Satellite Manufacturing and Launch System Market
Steps Taken by Industry/Companies/Governments to Overcome the Impact
Key Developments in The Industry in Response To COVID-19 Pandemic
Potential Opportunities Due to COVID-19 Outbreak
Browse Detailed Summary of Research Report with TOC:
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