The global satellite manufacturing and launch system market size is expected to reach USD 89.17 billion in 2032, exhibiting a CAGR of 11.12% during the forecast period, states Fortune Business Insights, in a report, titled “Satellite Manufacturing and Launch System Market Size, Share & Industry 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 satellite manufacturing and launch system market is a vital component of the global space industry, encompassing the design, development, production, and deployment of satellites and their corresponding launch vehicles. This market is driven by increasing demand for satellite-based services such as communication, Earth observation, navigation, and scientific research. Governments, defense agencies, and commercial entities are investing heavily in advanced satellite technologies and reusable launch systems to enhance capabilities, reduce costs, and improve access to space. Technological advancements, growing small satellite deployment, and the rise of private space companies are further accelerating market growth and transforming the traditional space ecosystem.

The Report Lists the key Players in the Satellite Manufacturing and Launch System Market:

Airbus S.A.S (The Netherlands)

Arianespace (France)

Boeing (The U.S.)

GeoOptics (Canada)

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.)

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

Dominant regions

Notable Development

Information Source:

https://www.fortunebusinessinsights.com/satellite-manufacturing-and-launch-systems-market-103549

Market Overview:

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 the satellite manufacturing and 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, Europe 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 Space X, 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 pandemic.

Regional Analysis:

Government Support for Reusable Launch Systems to Promote Growth in North America

The satellite manufacturing and launch system 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. Asia Pacific is expected to hold the largest 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

Key Development:

In December 2020, Lockheed Martin Corporation secured a USD 511 million contract from the U.S. Space Force to develop two GPS III Follow-On (GPS 3F) satellites. These next-generation satellites are designed to deliver enhanced navigation, global positioning, and timing services as part of the continued modernization of the U.S. GPS constellation.