Commercial Satellite Launch Service Market Information and Industry Trends to 2024 (SpaceX, Boeing, Lockheed Martin, Airbus, Orbital ATK, NASA)
Commercial use of space includes satellite navigation, satellite television & commercial satellite imagery. Operators providing these services contract the manufacturing of satellites and their launch to public firms.
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While the overall number of satellite launches has grown globally, commercial opportunities are becoming more competitive. In such a competitive field, manufacturers are ready to take up orders to deploy new small satellite constellations into Low Earth Orbit (LEO), for telecommunication purposes. With a diverse applications range, demand for commercial satellite launch service is expected to gain traction over 2018-2024.
The Major Key Players in the Commercial Satellite Launch Service Market are as follows:
1. Ariane Group
2. GK Launch Services
3. Lockheed Martin
4. United Launch Alliance
5. Commercial Space Technologies Ltd.
8. Antrix Corporation Limited
9. COSMOS International
10. Sea Launch
12. Orbital Sciences Corporation
14. Eurockot Launch Services
15. Mitsubishi Heavy Industries Launch Services
Manufacturers across the commercial satellite launch services industry are investing in R&D activities to develop cheap, flexible rocket systems, and cultivating business plans that offer an edge in a competitive scenario.
Also, increasing spending on R&D in developing countries, such as India, for cost reduction of satellite launches has also changed the business landscape. For instance, ISRO launched 31 satellites in 2018, and is planning to launch around 3000 such satellites in next ten years.
Moreover, expansion of satellite manufacturing facilities will increase production and favor commercial satellite launch service market growth. For instance, in 2017, Airbus allocated a sum of USD 17 billion to a factory as an annual investment to manufacture One-Web SATs.
Proliferation of smart appliances, such as smart televisions, smart watches, web streaming gadgets is boosting commercial satellite launch service industry. Availability of easy finance options is prompting masses to buy more smart appliances and gadgets. Also,growing popularity of web-based applications, such as Google search, AccuWeather, Facebook, and Instagram along with an upsurge in sales of smart phones will also supplement commercial satellite launch service market share over the coming years.
The industry is deriving significant growth from the rapid expansion of internet using consumer base. As per estimates, the number of online users reached around 25 million in 2017. Growing demand for telecommunication services is providing impetus to Low Earth Orbit (LEO) commercial satellite launch service industry. As per estimates, LEO commercial satellite launch service market will register a growth rate of 3.2% during the forecast period. LEO satellites need lesser deployment time and low launching cost in comparison to satellites launched in other orbits. This may further boost product adoption. Furthermore, the introduction of smart classes in education industry is likely to propel the requirement for internet Services, thereby supporting commercial satellite launch service market expansion.
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Availability of robust infrastructure and presence of various space organizations, including NASA and SpaceX in North America will offer lucrative regional growth prospects for the industry. Growing demand for in-built navigation systems in vehicles, mobile phones, and other electronic gadgets to locate destinations is likely to contribute significantly to the regional revenue generation. North America commercial satellite launch service market is forecast to generate a revenue of over USD 2.5 billion by 2024.
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