In-Space Manufacturing, Servicing and Transportation Market | Global Opportunity Analysis and Industry Forecast, 2020–2027
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COVID-19 scenario analysis:
• In-space manufacturing, servicing and transportation have been negatively affected by the economic upheaval created by outbreak of COVID-19.
• In-space activities is an industry with high levels of specialization and low production volumes.Thus, during the COVID-19 pandemic,the costs of entry such as strong government requirements, financing risks and technological risks to the sectorincreased owing to the funding cuts by governments.
• Non-availability of raw materials and disruption in supply chain due to the lockdowns implemented globally acted as a major challenge for the growth of the in-space manufacturing, servicing and transportation market.
• Space industry is suffering from financial losses from loss in revenue due to restriction in manufacturing of non-essential goodsimposed by government to control spread of COVID-19.
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Top impacting factors: market scenario analysis, trends, drivers and impact analysis
Prioritization of sustainable space infrastructure, increase in development of on-orbit space capabilities by the emerging space players and rise in adoption of on-orbit services are the factors that act as a driver for the in-space manufacturing, servicing and transportation market. However, regulatory issues, legal issues and technological challenges restricts growth of the market. Contrarily, increase in space launches and increase in efforts to remove space debris presents new pathways for the industry.
The in-space manufacturing, servicing and transportation market trends are as follows:
Prioritization of sustainable space infrastructure
Use of in-situ resource utilization (ISRU) for sustainable space infrastructure has increased to store, process, collect and utilize materials manufactured or materials found on other astronomical objects to reduce materials to be brought from the Earth. Sustainable space infrastructure yields in reduction of cost and mass associated with space exploration architectures. For instance, in 2018, SpaceX started developing Mars propellant plant, which can produce methane on mars to be used as propellant with the help of Sabatier reaction. Mars propellant plant will mine required water from the subsurface water ice found on Mars instead of hydrogen being transported from Earth. Focus on fabrication of sustainable space infrastructure increases the growth of in-space manufacturing, servicing and transportation market.
Rise in adoption of on-orbit services
On-orbit services include repairing or refuelling activities performed while the satellite is in orbit. Drop in costs of launching commercial satellites and rise in launches of geostationary low orbit satellites with lesser servicing costs encourages market growth of on-orbit services. For instance, in 2019, Space Logistics built MEV-1 a satellite designed for servicing of one of Space Logistics’ Intelsat-901 satellites. Servicing performed by MEV-1 extended the lifetime of Intelsat-901 satellite for five more years. Development and successful deployment of on-orbit services to repair or refuel existing satellites increases the demand for in-space manufacturing, servicing and transportation market.
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Key benefits of the report
• This study presents the analytical depiction of the high-performance truck market industry along with the current trends and future estimations to determine the imminent investment pockets.
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Questions answered in the defensive cyber weapons market research report:
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