Eclipsing Boundaries : Satellite Manufacturing Market Soaring to $27.3 Billion by 2031

Allied Market Research recently published a report, titled, "Satellite Manufacturing Market by Application (Communication, Earth Observation, Navigation, Space Observation, Others), by Satellite Type (LEO, MEO, GEO, Others), by Size (Small, Medium, and Large): Global Opportunity Analysis and Industry Forecast, 2021-2031". As per the report, the global satellite manufacturing industry was pegged at $16.2 billion in 2021, and is expected to reach $27.3 billion by 2031, growing at a CAGR of 5.7% from 2022 to 2031. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chain, regional landscape, and competitive scenario.

𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐚𝐠𝐞𝐬 - https://www.alliedmarketresearch.com/request-sample/14047

Satellites are used for various applications such as broadcasting, navigation, weather forecasting, and others. The rise in the adoption of artificial intelligence (AI), machine learning (ML), and cloud computing in the space sector for commercial satellite imaging and earth observation is expected to drive the growth of the market. In addition, the increasing use of satellite data in smart cities and connected car development is expected to drive the demand for commercial satellite imagery which requires satellites. An increase in the use of aerial images and AI in satellite imaging to observe and measure events like topmost tree thinning, and loss of undergrowth native vegetation is expected to drive the growth of the market.

𝐌𝐚𝐣𝐨𝐫 𝐦𝐚𝐫𝐤𝐞𝐭 𝐩𝐥𝐚𝐲𝐞𝐫𝐬
Airbus
Arianespace
Ball Corporation
Geooptics, Inc.
L3Harris Technologies, Inc.
Lockheed Martin Corporation
Maxar Technologies
Mitsubishi Electric Corporation
Northrop Grumman Corporation
Raytheon Technologies Corporation
Sierra Nevada Corporation
SpaceX
Thales Group
The Boeing Company
Viasat, Inc.

𝐃𝐫𝐢𝐯𝐞𝐫𝐬, 𝐫𝐞𝐬𝐭𝐫𝐚𝐢𝐧𝐭𝐬, 𝐚𝐧𝐝 𝐨𝐩𝐩𝐨𝐫𝐭𝐮𝐧𝐢𝐭𝐢𝐞𝐬

Rise in technical innovation, development of automation technologies, and lower launch costs have boosted the growth of the global satellite manufacturing market. However, strict government regulations, increase in space debris, and interference in satellite data transmission hinder the market growth. On the contrary, development in satellite mission technologies and surge in demand for space data would open new opportunities in the future.

𝐓𝐡𝐞 𝐜𝐨𝐦𝐦𝐮𝐧𝐢𝐜𝐚𝐭𝐢𝐨𝐧 𝐬𝐞𝐠𝐦𝐞𝐧𝐭 𝐡𝐞𝐥𝐝 𝐭𝐡𝐞 𝐥𝐢𝐨𝐧'𝐬 𝐬𝐡𝐚𝐫𝐞

By application, the communication segment held the largest share in 2021, accounting for nearly half of the global satellite manufacturing market, due to rising demand for connectivity services across the world. However, the Earth observation segment is expected to register the highest CAGR of 6.4% during the forecast period, owing to increase in demand for monitoring and inspection solution by defense and commercial organizations.

𝐓𝐡𝐞 𝐋𝐄𝐎 𝐬𝐞𝐠𝐦𝐞𝐧𝐭 𝐭𝐨 𝐦𝐚𝐧𝐢𝐟𝐞𝐬𝐭 𝐭𝐡𝐞 𝐡𝐢𝐠𝐡𝐞𝐬𝐭 𝐂𝐀𝐆𝐑 𝐭𝐡𝐫𝐨𝐮𝐠𝐡 𝟐𝟎𝟑𝟏

By satellite type, the LEO segment would showcase the highest CAGR of 6.3% from 2022 to 2031. In addition, the segment held the largest share in 2021, contributing to more than two-fifths of the global satellite manufacturing market, due to increase in demand for satellites in LEO orbit to monitor and observe the space station, and assist the space station in conducting space research missions.

𝐏𝐫𝐨𝐜𝐮𝐫𝐞 𝐂𝐨𝐦𝐩𝐥𝐞𝐭𝐞 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭 𝐍𝐨𝐰 - https://www.alliedmarketresearch.com/satellite-manufacturing-market/purchase-options

𝐓𝐡𝐞 𝐦𝐞𝐝𝐢𝐮𝐦 𝐬𝐞𝐠𝐦𝐞𝐧𝐭 𝐝𝐨𝐦𝐢𝐧𝐚𝐭𝐞𝐝 𝐭𝐡𝐞 𝐦𝐚𝐫𝐤𝐞𝐭

By size, the medium segment held the largest share in 2021, accounting for more than two-fifths of the global satellite manufacturing market, due to surge in launch of satellites for high-performance applications in space research, communication, and observation fields. However, the small segment is expected to register the highest CAGR of 10.3% during the forecast period, owing to rise in focus of telecommunications and space organizations toward deploying small satellite constellations.

𝐍𝐨𝐫𝐭𝐡 𝐀𝐦𝐞𝐫𝐢𝐜𝐚 𝐡𝐞𝐥𝐝 𝐭𝐡𝐞 𝐥𝐚𝐫𝐠𝐞𝐬𝐭 𝐬𝐡𝐚𝐫𝐞

By region, the global satellite manufacturing market across North America held the largest share in 2021, accounting for more than two-fifths of the market, due to increase in adoption of advanced satellite services among the civil, defense, and space industries in the region. However, market across Asia-Pacific is projected to manifest the highest CAGR of 6.4% during the forecast period, due to increased investment in deploying satellite technologies in countries such as China and India.

Factors such as an increase in the number of space exploration missions, rise in demand for satellite aided warfare, increase in deployment of small satellites, and increase in demand for a satellite in a satellite communication system accelerate the growth of the satellite manufacturing market. However, interference in satellite data transmission, stringent government regulations and increase in space debris hamper the growth of the market. Conversely, advancement in satellite mission technologies, an increase in demand for space data, and new application areas for satellites are expected to provide lucrative opportunities for the expansion of the growth of the market.

𝐈𝐧𝐭𝐞𝐫𝐞𝐬𝐭𝐞𝐝 𝐭𝐨 𝐏𝐫𝐨𝐜𝐮𝐫𝐞 𝐭𝐡𝐞 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭? 𝐈𝐧𝐪𝐮𝐢𝐫𝐞 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠 - https://www.alliedmarketresearch.com/purchase-enquiry/14047

𝐒𝐢𝐦𝐢𝐥𝐚𝐫 𝐑𝐞𝐩𝐨𝐫𝐭𝐬 𝐖𝐞 𝐇𝐚𝐯𝐞 𝐨𝐧 𝐒𝐚𝐭𝐞𝐥𝐥𝐢𝐭𝐞 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐲:

https://www.alliedmarketresearch.com/satellite-manufacturing-and-launch-systems-market-A11976 - Satellite Manufacturing and Launch Systems Market : Global Opportunity Analysis and Industry Forecast, 2023-2032

https://www.alliedmarketresearch.com/communication-satellite-market-A10519 - Satellite Communication Market : Global Opportunity Analysis and Industry Forecast, 2020-2027

https://www.alliedmarketresearch.com/satellite-data-services-market-A06428 - Satellite Data Services Market : Global Opportunity Analysis and Industry Forecast, 2021-2030

https://www.alliedmarketresearch.com/satellite-connectivity-market-A17100 - Satellite Connectivity Market : Global Opportunity Analysis and Industry Forecast, 2021-2031

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𝐀𝐛𝐨𝐮𝐭 𝐔𝐬
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