Press release
Satellite Manufacturing and Launch System Market Size, Share, Forecast 2023-2028
The global satellite manufacturing and launch system market size reached US$ 19.4 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 25.0 Billion by 2028, exhibiting a growth rate (CAGR) of 4.1% during 2023-2028.
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A satellite manufacturing and launch system involves the design, construction, and deployment of artificial satellites into orbit around the Earth or other celestial bodies. The process typically begins with satellite manufacturing, where engineers and technicians assemble the satellite components, including communication systems, power sources, and scientific instruments. Following construction, the satellite is integrated into a launch vehicle-a rocket-designed to carry it into space.
The launch system involves precise planning and execution to ensure the satellite reaches its intended orbit. Companies specializing in satellite manufacturing and launch systems contribute significantly to telecommunications, Earth observation, scientific research, and national security by enabling the deployment of satellites for various purposes.
Market Trends:
The global market is majorly driven by the growing reliance on satellite-enabled communication, Earth observation, navigation, and scientific research. Telecommunications, weather forecasting, and global positioning systems contribute significantly to the expanding market. Furthermore, commercial ventures, such as satellite-based broadband internet services and Earth imaging for industries like agriculture and forestry, are driving innovation and market growth. The rise in demand for high-resolution imagery and real-time data transmission propels the need for more sophisticated satellite manufacturing and launch capabilities. Moreover, geopolitical considerations and national security interests also play a crucial role. Governments invest in satellite systems for military surveillance, communication, and reconnaissance purposes. The development of indigenous satellite capabilities enhances a nation's strategic independence and resilience. Besides, rapid technological advancements, including miniaturization of satellite components and the emergence of small satellite constellations, are reshaping the market. Smaller and more cost-effective satellites are becoming increasingly viable, fostering opportunities for emerging spacefaring nations and private companies to enter the space industry.
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Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players operating in the market.
• Airbus SE
• Arianespace SA
• Blue Origin LLC
• Boeing
• Geooptics Inc.
• Innovative Solutions in Space (ISISPACE) Group
• Lockheed Martin Corporation
• Northrop Grumman Corporation.
• Raytheon Company
• Space Exploration Technologies Corporation
• Thales Group
• Viasat Inc.
Key Market Segmentation:
Our report has categorized the market based on region, segment, satellite type, application and end-use sector.
Breakup by Segment:
• Satellite Manufacturing
• Satellite Launch System
Breakup by Satellite Type:
• LEO (Low Earth Orbit) Satellites
• MEO (Middle Earth Orbit) Satellites
• GEO (Geosynchronous Equatorial Orbit) Satellites
• Beyond GEO Satellites
Breakup by Application:
• Commercial Communications
• Government Communications
• Earth Observation Services
• Research and Development
• Navigation
• Military Surveillance
• Scientific Applications
• Others
Breakup by End-Use Sector:
• Military and Government
• Commercial
• Others
Breakup by Region:
• North America (United States, Canada)
• Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
• Asia Pacific (China, Japan, India, Australia, Indonesia, South Korea, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa
Key Highlights of the Report:
• Market Performance (2017-2022)
• Market Outlook (2023-2028)
• Porter's Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape
Contact US:
IMARC Group
134 N 4th St. Brooklyn, NY 11249, USA
Email: sales@imarcgroup.com
Tel No:(D) +91 120 433 0800
United States: +1-631-791-1145 | United Kingdom: +44-753-713-216
About Us:
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC's information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise.
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