On-orbit Satellite Servicing Market Revenue, Insights, Overview, Outlook, Analysis | Valuates Reports

On-orbit Satellite Servicing Market

On-orbit satellite servicing represent a transformative approach to managing and optimizing satellite operations in Earth's orbit. These advanced technologies involve the deployment of robotic systems, spacecraft, and autonomous navigation capabilities to perform a range of tasks on satellites already in orbit. This includes satellite refueling, docking, attachment of additional components, payload replacement, and on-orbit repair and maintenance. These services are designed to extend the operational life of satellites, enhance their performance, and address malfunctions without the need for their return to Earth. On-orbit servicing also plays a critical role in sustainable space activities by facilitating end-of-life deorbiting, removing defunct satellites from orbit. The integration of spacecraft tugs allows for towing or repositioning satellites, while collaborative satellite operations enable multiple satellites to work together on complex tasks. Overall, on-orbit satellite servicing solutions offer a cost-effective and efficient means of managing satellite fleets, adapting to evolving mission requirements, and contributing to the long-term sustainability of activities in space.

According to new survey, global On-orbit Satellite Servicing market is projected to reach US$ million in 2029, increasing from US$ million in 2022, with the CAGR of % during the period of 2023 to 2029.

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The primary advantage of commercial on-orbit satellite servicing is the potential to extend the operational lifetime of commercial satellites, allowing them to provide valuable services and generate revenue for a longer period of time. It can also help reduce the need for costly and risky satellite replacements while enabling operators to upgrade and modify their existing satellites to keep up with technological advancements and market demands.

Overall, the commercial on-orbit satellite servicing market is expected to experience rapid growth as more satellite operators seek to maximize the value and utility of their space assets.

By Type
• Lifetime Extension
• On-orbit Assembly
• On-orbit Refueling

By Application
• Military & Government
• Commercial

Key Companies
Northrop Grumman, Maxar Technologies, Astroscale, Airbus, Thales Alenia Space, Tethers Unlimited, Altius Space Machines, Orbit Fab, Momentus, Clearspace, Rogue Space Systems, Starfish Space, D-Orbit, Turion Space

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This release was published on openPR.