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On-Orbit Satellite Servicing Market worth $6.30 billion by 2030, growing at a CAGR of 10.15% - Exclusive Report by 360iResearch
On-Orbit Satellite Servicing Market | 360iResearch
The Global On-Orbit Satellite Servicing Market to grow from USD 3.20 billion in 2023 to USD 6.30 billion by 2030, at a CAGR of 10.15%.
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On-orbit satellite servicing is an emerging field in space technology, encompassing a broad range of activities aimed at enhancing operational efficiency and extending the lifespan of satellites while they are in orbit. This innovative approach to satellite maintenance represents a paradigm shift from traditional methods, which involve decommissioning out-of-service satellites and launching new ones as replacements. On-orbit satellite servicing offers various benefits, including cost reductions, improved reliability, enhanced satellite capabilities, and decreased space debris generation. The global on-orbit satellite servicing market consists of commercial, government, and military entities that develop technologies and services to inspect, repair, refuel, or upgrade satellites in space. Increasing demand for satellite-based services across various sectors and advancements in autonomous robotic technologies enabling rendezvous and docking with satellites in space are raising the demand for on-orbit satellite services. Regulatory initiatives and public-private partnerships have created a favorable environment for startups and established companies to explore innovative on-orbit servicing solutions. However, high development costs associated with advanced technologies may hinder the commercial viability of these services. Additionally, regulatory complexities concerning space debris mitigation, orbital safety management, and satellite ownership rights pose significant challenges to deploying on-orbit servicing systems. Besides the challenging factors, market vendors are focusing on reducing mission costs by developing reusable service platforms or leveraging in-situ resources such as space-based solar power or asteroid mining-derived propellants. Improving autonomous robotic technologies capable of sophisticated manipulation tasks and rising government space expenditure are expected to propel opportunities for the global on-orbit satellite servicing market.
In the Americas, the United States is at the forefront of on-orbit satellite servicing research and development activities and commercialization efforts. In 2020, Northrop Grumman's Mission Extension Vehicle-1 (MEV-1) successfully demonstrated its ability to extend the life of a communication satellite by attaching itself and taking control of orbit maintenance functions. This groundbreaking achievement by an American company has spurred further growth in on-orbit servicing technologies. In recent years, EMEA has witnessed consistent growth in its space sector with increased adoption of satellite-based applications across various industries such as agriculture, maritime surveillance, environmental monitoring, and disaster management. To accommodate this burgeoning demand for satellites and their services within EMEA, countries are investing heavily in homegrown capabilities designed to service existing satellites while extending their operational lifespan. Moreover, the European Space Agency (ESA) is pivotal in driving the market forward by funding and collaborating on ambitious space projects. Countries such as China, India, and Japan have emerged as major participants in on-orbit satellite servicing activities within the APAC region. The robust economic growth in these countries, combined with their increased dependence on satellite-based applications for various industrial and civilian purposes, has resulted in heightened growth within the APAC region's on-orbit satellite servicing market.
Market Segmentation & Coverage:
This research report categorizes the On-Orbit Satellite Servicing Market in order to forecast the revenues and analyze trends in each of following sub-markets:
Based on Service Type, market is studied across Active Debris Removal & Orbit Adjustment, Assembly, Refueling, and Robotic Servicing. The Robotic Servicing is projected to witness significant market share during forecast period.
Based on Satellite Type, market is studied across Large Satellite, Medium Satellite, and Small Satellite. The Large Satellite is projected to witness significant market share during forecast period.
Based on Orbit, market is studied across Geostationary Orbit, Low Earth Orbit (LEO), and Medium Earth Orbit (MEO). The Low Earth Orbit (LEO) is projected to witness significant market share during forecast period.
Based on End-User, market is studied across Commercial and Defense. The Commercial is projected to witness significant market share during forecast period.
Based on Region, market is studied across Americas, Asia-Pacific, and Europe, Middle East & Africa. The Americas is further studied across Argentina, Brazil, Canada, Mexico, and United States. The United States is further studied across California, Florida, Illinois, New York, Ohio, Pennsylvania, and Texas. The Asia-Pacific is further studied across Australia, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Taiwan, Thailand, and Vietnam. The Europe, Middle East & Africa is further studied across Denmark, Egypt, Finland, France, Germany, Israel, Italy, Netherlands, Nigeria, Norway, Poland, Qatar, Russia, Saudi Arabia, South Africa, Spain, Sweden, Switzerland, Turkey, United Arab Emirates, and United Kingdom. The Europe, Middle East & Africa commanded largest market share of 37.33% in 2023, followed by Asia-Pacific.
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FPNV Positioning Matrix:
The FPNV Positioning Matrix is essential for assessing the On-Orbit Satellite Servicing Market. It provides a comprehensive evaluation of vendors by examining key metrics within Business Strategy and Product Satisfaction, allowing users to make informed decisions based on their specific needs. This advanced analysis then organizes these vendors into four distinct quadrants, which represent varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital(V).
Market Share Analysis:
The Market Share Analysis offers an insightful look at the current state of vendors in the On-Orbit Satellite Servicing Market. By comparing vendor contributions to overall revenue, customer base, and other key metrics, we can give companies a greater understanding of their performance and what they are up against when competing for market share. The analysis also sheds light on just how competitive any given sector is about accumulation, fragmentation dominance, and amalgamation traits over the base year period studied.
Key Company Profiles:
The report delves into recent significant developments in the On-Orbit Satellite Servicing Market, highlighting leading vendors and their innovative profiles. These include Airbus SE, Altius Space Machines, Inc., Astroscale Holdings Inc., ClearSpace, D-Orbit SpA, Digantara, Lockheed Martin Corporation, Maxar Technologies Holdings Inc., Momentus Inc., Northrop Grumman Corporation, Obruta Space Solutions Corp., Orbit Fab, Inc., OrbitGuardians, Share My Space, Thales, and Voyager Space Holdings, Inc..
Key Topics Covered:
1. Preface
2. Research Methodology
3. Executive Summary
4. Market Overview
5. Market Insights
6. On-Orbit Satellite Servicing Market, by Service Type
7. On-Orbit Satellite Servicing Market, by Satellite Type
8. On-Orbit Satellite Servicing Market, by Orbit
9. On-Orbit Satellite Servicing Market, by End-User
10. Americas On-Orbit Satellite Servicing Market
11. Asia-Pacific On-Orbit Satellite Servicing Market
12. Europe, Middle East & Africa On-Orbit Satellite Servicing Market
13. Competitive Landscape
14. Competitive Portfolio
The report provides insights on the following pointers:
1. Market Penetration: Provides comprehensive information on the market offered by the key players
2. Market Development: Provides in-depth information about lucrative emerging markets and analyzes penetration across mature segments of the markets
3. Market Diversification: Provides detailed information about new product launches, untapped geographies, recent developments, and investments
4. Competitive Assessment & Intelligence: Provides an exhaustive assessment of market shares, strategies, products, certification, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players
5. Product Development & Innovation: Provides intelligent insights on future technologies, R&D activities, and breakthrough product developments
The report answers questions such as:
1. What is the market size and forecast of the On-Orbit Satellite Servicing Market?
2. Which are the products/segments/applications/areas to invest in over the forecast period in the On-Orbit Satellite Servicing Market?
3. What is the competitive strategic window for opportunities in the On-Orbit Satellite Servicing Market?
4. What are the technology trends and regulatory frameworks in the On-Orbit Satellite Servicing Market?
5. What is the market share of the leading vendors in the On-Orbit Satellite Servicing Market?
6. What modes and strategic moves are considered suitable for entering the On-Orbit Satellite Servicing Market?
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