In-Space Manufacturing, Servicing, and Transportation Sector to Grow with 17.26% CAGR During 2020-2030

The space industry has always been in a state of constant evolution, with technological developments that have enhanced the capabilities of space systems taking place in the industry. Recent market analysis by BIS Research, a leading market intelligence and consultancy firm, suggested that the global market for in-space manufacturing, servicing, and transportation is expected to grow from a market value of $1.38 billion in 2019 to $7.55 billion by the end of 2030 while registering a CAGR of 17.26% over the years 2020-2030.

Read Report Overview at: https://bisresearch.com/industry-report/in-space-manufacturing-servicing-transportation-market.html

The market research study provides a detailed analysis of market information based on multiple segmentations such as end-user, operation, and region. The research report further deep dives into the market dynamics, competitive landscape, company financials, and product contributions of leading players in the emerging technology market.

The market growth is favored by several factors such as the increasing developments by emerging space players on on-orbit space capabilities, escalating focus on in-situ resource utilization (ISRU) for sustainable space infrastructure, and rising benefits for space missions through the adoption of on-orbit services. However, legal and regulatory issues and technical challenges concerning the potential of on-orbit space capabilities pose a threat to the exponential growth of this emerging market.

With the advancement in space technologies, the commercial players involved in the industry have developed on-orbit service capabilities. In terms of end-user, the commercial sector dominates the global in-orbit manufacturing, servicing, and transportation market due to the increasing number of contracts and agreements signed between the commercial space players.

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Based on the region, Europe is estimated to register the highest growth in the in-space manufacturing, servicing, and transportation market during the forecast period. This huge growth rate is favored by the presence of the European Space Agency (ESA) and the need to make space more accessible to the people, along with the need for commercialization of space.

To increase the overall global footprint and customer base, the in-space manufacturing, servicing, and transportation providers are expanding their businesses and entering strategic partnerships globally. Most of the providers operating in the sector have numerous tie-ups with various national space agencies and commercial space players.

Key Questions Answered in the Report:

• What are the underlying structures resulting in the emerging trends within the in-space manufacturing, servicing, and transportation market?

• What is the scope in the market for new OEMs and other players to enter?

• What are the driving and challenging factors for the growth of the in-space manufacturing, servicing, and transportation market?

• Which operation type is expected to lead the in-space manufacturing, servicing, and transportation market by 2030?

• What was the market value of the regions in in space manufacturing, servicing and transportation market in 2019, and how is the market estimated to grow during the forecast period 2020-2030?

• How is the industry expected to evolve during the forecast period 2020-2030?

• What are the key development strategies that are implemented by the key players to sustain the competitive market?

Related Reports:

• Active Space Debris Removal Market - https://bisresearch.com/industry-report/active-space-debris-removal-market.html

• Global Small Launch Vehicle (SLV) Market - https://bisresearch.com/industry-report/global-small-launch-vehicle-market.html

• Global Small Satellite Market - https://bisresearch.com/industry-report/small-satellite-market.html

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About BIS Research:

BIS Research is a global B2B market intelligence and advisory firm focusing on those emerging technological trends which are likely to disrupt the dynamics of the market.

With over 150 market research reports published annually, BIS Research focuses on high technology verticals such as 3D Printing, Advanced Materials and Chemicals, Aerospace and Defense, Automotive, Healthcare, Electronics and Semiconductors, Robotics and UAV, and other emerging technologies.

Our in-depth market intelligence reports focus on the market estimations, technology analysis, emerging high-growth applications, deeply segmented granular country-level market data, and other important market parameters useful in the strategic decision-making for senior management.

As a leading market intelligence provider, BIS Research stands out of the crowd by complementing the data with valuable insights and actionable inputs for the client's success.

This release was published on openPR.