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Space Service Market Top Manufacturers, Product Types, Sales and Demand 2021-2030

02-22-2021 09:03 PM CET | Associations & Organizations

Press release from: Allied Market Research

Space Service Market

Space Service Market

Space service industry refers to economic activities related to manufacturing components that go into earth's orbit or beyond, delivering them to those regions, and related services. Space services include satellite manufacturing, support ground equipment manufacturing, and launch services, mobile terminals, gateways, control stations, very small aperture terminal or VSATs, direct broadcast satellite dishes, and other specialized equipment. Furthermore, space service include launch services, vehicle manufacturing, and subsystem manufacturing.

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Regions covered
North America (US and Canada), Europe (Germany, UK, France, and the Rest of Europe), Asia Pacific (China, Japan, India, and the Rest of Asia Pacific), Latin America (Brazil, Mexico, and the Rest of LATAM), and Middle East and Africa

Companies covered
Antrix Corporation , Arianespace , Boeing , China Great Wall Industry Corporation , EUROCKOT , ILS International , Lockheed Martin , Mitsubishi Heavy Industries , Orbital ATK , Space Exploration Technologies

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Top impacting factors: market scenario analysis, trends, drivers, and impact analysis
Increasing use of space technology in communications, positioning services, earth observation, and economic activity related to government-funded space programs is one of the significant driver for space service market.

In addition, space service has various application in weather prediction and climate monitoring for accurate weather prediction enabled by space systems which has become a critically important element in our daily lives, impacting government, industry, and personal decision making.

Moreover, earth observing satellites also monitor greenhouse gases and other crucial climate indicators, as well as overall earth ecosystem health. Without this kind of environmental information coming from satellites, plans for dealing with climate change would have less scientific basis.

Furthermore, space service through earth observation provides information and support for agricultural production, fisheries management, freshwater management, and forestry management, as well as monitoring for harmful activities, such as illegal logging, animal poaching, fires, and environmentally pernicious mining.

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Space service market trends are as follows:

Increasing use of mega constellation
Mega constellations, also known as low earth-orbit or LEO satellite constellations, are webs of networked satellites, which orbit the Earth at altitudes of 2,000 km or less. This is an emerging trend with huge potential, which is likely to enhance the efficiency, capacity, and security of a variety of services to Earth-based business customers by drastically cutting communications latency, while increasing throughput and global coverage.

Recently, SpaceX has successfully launched 60 more Starlink satellites, its third Starlink mission in 2020 and its fifth overall, as it continues to rapidly expand its mega constellation to provide high-speed internet around the globe.

Also, amazon is also launching project Kuiper. Project Kuiper is a constellation of 3,236 satellites which Amazon plans to deploy in low Earth orbit for low-latency, high-speed broadband.

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Increasing trend of space based data centers
Data centers are centralized locations where computing and networking equipment is concentrated for the purpose of collecting, storing, processing, distributing or allowing access to large amounts of data. They provide important services such as data storage, backup and recovery, data management and networking.

Data centers are the essential for the Internet that drives much of today’s economy, but they consume vast and increasing amounts of electricity. Presently, data centers are often being located in cold climates to take advantage of lower operating temperatures and cooling loads.

However, if data is placed in space, and their power supplies directly is in space using the virtually unlimited solar energy, to remove the burden of Earth-based electricity systems to power them.
There are several advantages, including increased physical security, decreased signal transmission times, and superior performance of spinning disk drives in microgravity. It is possible that space-based data centers could eventually become cost effective, resulting in lower electricity demand and carbon emissions on Earth.

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About Us
Allied Market Research (AMR) is a market research and business-consulting firm of Allied Analytics LLP, based in Portland, Oregon. AMR offers market research reports, business solutions, consulting services, and insights on markets across 11 industry verticals. Adopting extensive research methodologies, AMR is instrumental in helping its clients to make strategic business decisions and achieve sustainable growth in their market domains. We are equipped with skilled analysts and experts, and have a wide experience of working with many Fortune 500 companies and small & medium enterprises.

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