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Satellite Manufacturing and Launch System Market to Reach USD 54.17 Billion by 2027; Surging Investment by Government and Space Agencies to Bolster Growth, states Fortune Business Insights™
Satellite Manufacturing and Launch System Market
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List of the Leading Companies Profiled in the Global Satellite Manufacturing and Launch System Market are:
• Airbus S.A.S (The Netherlands)
• Arianespace (France)
• Boeing (The U.S.)
• GeoOptics (Canada)
• ISISPACE GROUP (The Netherlands)
• JSC Academician M.F. Reshetnev (Russia)
• Lockheed Martin Corporation (The U.S.)
• Maxar Technologies (The U.S.)
• SpaceX (The U.S.)
• ViaSat Inc. (The U.S.)
Market Overview:
Heavy Investments in Space Missions to Bolster Growth
The surging investment by government and space agencies in developing technologically advanced satellite launch vehicles is expected to foster healthy growth of the satellite manufacturing and launch system industry. According to the Department of Defense (DOD), the USD 14.1 billion was requested for National Security Space (NSS) in 2020 compared to the USD 12.3 billion in 2019. Out of the total amount, USD 8.4 billion, USD 2.6 billion, and USD 3.0 billion are allocated for the research, development, test, evaluation (RDT&E), procurement, and operation & maintenance.
Furthermore, the increasing collaboration and agreement between space companies and government organizations to develop innovative SLVs will foster satellite manufacturing & launch system market growth. For instance, SpaceX collaborated with NASA to design and develop reusable satellite launch vehicles to minimize the overall program cost and space debris around the earth's orbit. Similarly, the European Space Agency (ESA) increased its focus on Ariane 6, an expendable launch system, thus boosting the satellite manufacturing and launch system production.
The report on the satellite manufacturing and launch system market includes:
• Remarkable insights into the market
• Meticulous scrutiny of the segments
• Latest developments and drivers
• Vital information about key players
• Dominant regions
• Notable Development
Suspended Satellite Launches to Inhibit Market during Coronavirus
The lockdown in major countries such as the U.S., France, Germany, China, India, and Japan severely impacted the space industry, suspending all space-related activities. Major companies such as SpaceX, United Launch Alliance (ULA), Rockets Labs, and Blue Origin have reformed their production structure for launch vehicles and satellites.
According to the U.S. Department of Commerce, around 92% of space-based firms with research and development as a primary business capability were small businesses. These firms experienced a major hit from the pandemic. Moreover, prominent companies' implementation of various strategies to sustain recovery can subsequently elevate the satellite manufacturing and launch system market amid pandemics.
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Regional Analysis:
Government Support for Reusable Launch Systems to Promote Growth in North America
The global market in North America is expected to exhibit a rapid growth rate during the forecast period due to the high investments by the U.S. government and space agencies in manufacturing reusable launch systems. For instance, in September 2019, NASA awarded a contract worth USD 4,600 million to Lockheed Martin Corporation to supply six reusable Orion crew capsules integrated with lightweight 3D printed modules.
The Asia Pacific is expected to hold the largest satellite manufacturing and launch system market share during the forecast period. The growth is attributed to growing satellite launch infrastructure and satellite launch programs from China, India, and Australia. For instance, in November 2020, the Indian Space Research Organization (ISRO) successfully launched 10 satellites consisting of earth observation satellites and payload.
Key Questions Answered in This Report:
• How has the global satellite manufacturing and launch system market performed so far and how will it perform in the coming years?
• What has been the impact of COVID-19 on the global satellite manufacturing and launch system market?
• What are the key regional markets?
• What is the breakup of the market based on the segment?
• What is the breakup of the market based on the satellite type?
• What is the breakup of the market based on the application?
• What is the breakup of the market based on the end-use sector?
• What are the various stages in the value chain of the industry?
• What are the key driving factors and challenges in the industry?
• What is the structure of the global satellite manufacturing and launch system market and who are the key players?
• What is the degree of competition in the industry?
Key Development:
October 2020: The Boeing Company was granted a contract worth USD 298 million by the U.S. Space Force for next-generation SATCOM satellites. Under this contract, The Boeing Company is expected to design and develop an intricate military satellite and payload architecture system.
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Fortune Business Insights™ delivers accurate data and innovative corporate analysis, helping organizations of all sizes make appropriate decisions. We tailor novel solutions for our clients, assisting them to address various challenges distinct to their businesses. Our aim is to empower them with holistic market intelligence, providing a granular overview of the market they are operating in.
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