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Report Predicts Growth in Commercial Satellite Launch Service Market by 2024, key players- Lockheed Martin, Airbus, Boeing, Orbital ATK, Arianespace

03-03-2019 11:01 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Insights and Reports

Report Predicts Growth in Commercial Satellite Launch Service

Communication commercial satellite launch service Market will dominate industry volume share owing to increasing usage of wireless technology and rising connectivity among various countries. Reconnaissance segment is anticipated to hold over 35% of overall revenue share owing to utilization of imagery SATs for improving farming techniques. Online web sources and GIS tools for farmers will further spur segment revenue over the forecast period.

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The micro commercial satellite launch service market will experience more than 6% of growth rate during the projected time span. This growth rate can be credited to rising developments for enhancing affordability and reliability of the launching vehicles. Micro SATs penetration is observed in various industries owing to compact size.

North America is predicted to dominate commercial satellite launch service Market and will be worth over USD 2.5 billion by 2024. This dominance can be credited to availability of robust infrastructure in the region and presence of multiple space organizations including SpaceX and NASA. Expansion of navigation industry demand to locate destinations is contributing significantly in regional revenue generation. Asia Pacific is anticipated to register robust growth owing to low launching cost offered by organizations such as ISRO.

Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:

• Lockheed Martin
• Airbus
• Space Exploration Technology
• Boeing
• Axelspace Corporation
• Orbital ATK

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Continuous R&D activities for cost reductions will aid developing countries such as India to strengthen its position., In 2018, ISRO launched 31 satellites and is planning for around 3000 in next ten years. Rising satellite manufacturing facilities will strengthen the commercial satellite launch service Market over the forecast period. For instance, in 2017, Airbus commissioned factory to manufacture One-Web SATs with annual investment of around USD 17 billion.

Government agencies such as the U.S. Federal Aviation Administration (FAA) recommends and approves the regulations and procedures that govern commercial launch service industry. It satisfies infrastructure requirement for the companies located both domestically and internationally. European space organizations are exploring various alternatives for micro launchers for launching SATs for different applications including, telecom, technology demonstration, education, earth observation, and mobile applications.

LEO segment of commercial satellite launch service market will exhibit CAGR of around 3.2% during forecast period owing to less deploy time and low launching cost in comparison with other orbits. Additionally, the segment is the positive gateway for expanding connectivity in remote areas.

Browse Report Summary @ https://www.gminsights.com/industry-analysis/commercial-satellite-launch-service-market

Commercial satellite launch service market players are Lockheed Martin, Airbus, Space Exploration Technology, Boeing, Axelspace Corporation, and Orbital ATK. Industry players are adopting mergers and acquisition strategy to enhance their industry share. In January 2018, ULA acquired Atlas division of Lockheed to reduce cost and enhancing business efficiency.

About Global Market Insights:
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

Contact us:
Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Phone:1-302-846-7766
Toll Free: 1-888-689-0688
Email: sales@gminsights.com
Web: https://www.gminsights.com

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