Press release
Commercial Satellite Launch Service Market Growth Dynamics by Key Companies - ArianeGroup, Lockheed Martin, United Launch Alliance, NASA, Boeing, Orbital Sciences Corporation, SpaceX
Commercial Satellite Launch Service Market
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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.
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.
Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:
1. ArianeGroup
2. Lockheed Martin
3. United Launch Alliance (ULA)
4. NASA - National Aeronautics and Space Administration
5. Boeing
6. Orbital Sciences Corporation is now Orbital ATK!
7. SpaceX
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 industry expansion.
Market Segmentation By Application: -
1. Navigational
2. Communication
3. Reconnaissance
4. Weather Forecasting
5. Remote Sensing
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.
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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 industry is forecast to generate a revenue of over USD 2.5 billion by 2024.
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