Press release
Satellite Manufacturing Market to Reach $27.3 Billion by 2031, Driven by LEO Satellite Growth
Satellite Manufacturing Market
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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.
Several tests and demonstrations are being carried out by government organizations and defense forces around the world to establish space warfare capabilities. Ground-to-space warfare, such as attacking satellites from the ground, space-to-space warfare, such as satellites attacking satellites, and space-to-ground warfare, such as satellites targeting Earth-based objects, are all different forms of space warfare. Moreover, the military collaborates with satellite manufacturers for designing, developing and fabricating communication satellites to train its officers.
For instance, United Launch Alliance (ULA), launched the fifth Space-Based Infrared System satellite for the U.S. Space Force in May 2021.
With the help of its onboard infrared sensors, the $1 billion satellite, built by Lockheed Martin, is designed to identify and track plumes produced by missile launches throughout the world. Its capabilities will allow the U.S to prepare for any imminent attacks.
The increase in efforts to expand space defense capabilities by the government and defense organizations boosts the growth of the satellite manufacturing market. The satellite manufacturing market is segmented into application, satellite type, size, and region. By application, the satellite manufacturing market is segmented into communication, earth observation, navigation, space observation, and others.
On the basis of satellite type, the satellite manufacturing market is segmented into LEO, MEO, GEO, and others. By size, the market is segmented into small, medium, and large.
Region-wise, the satellite manufacturing market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
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.
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.
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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.
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.
Key players operating in the global satellite manufacturing market include 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, and Viasat, Inc.
Key Benefits For Stakeholders:
➢ This report provides a quantitative analysis of the satellite manufacturing market segments, current trends, estimations, and dynamics of the satellite manufacturing market analysis from 2021 to 2031 to identify the prevailing satellite manufacturing market opportunities.
➢ The satellite manufacturing market research is offered along with information related to key drivers, restraints, and opportunities.
➢ Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
➢ In-depth analysis of the satellite manufacturing market segmentation assists to determine the prevailing satellite manufacturing market opportunities.
➢ Major countries in each region are mapped according to their revenue contribution to the global satellite manufacturing market.
➢ Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the satellite manufacturing market players.
➢ The report includes the analysis of the regional as well as global satellite manufacturing market trends, key players, market segments, application areas, and market growth strategies.
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Frequently Asked Questions about the Satellite Manufacturing Market:
1. What is the current size of the satellite manufacturing market in 2025?
2. What are the primary applications of satellites?
3. What types of satellites dominate the market?
4. What factors are driving the growth of the satellite manufacturing market?
5. What are the key challenges faced by the satellite manufacturing market?
6. What role does technology play in satellite manufacturing?
7. Which regions are leading the satellite manufacturing market?
8. Who are the key players in the satellite manufacturing market?
9. What trends are shaping the satellite manufacturing market in 2025?
10. How does the satellite manufacturing market contribute to global sustainability?
This Satellite Manufacturing Market Report:
➢ Mergers and acquisitions should be well-planned by identifying the best manufacturer.
➢ Sort new clients or possible partners into the demographic you're looking for.
➢ Suitable for providing dependable and high-quality data and analysis to assist your internal and external presentations.
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➢ Recognize newcomers with potentially strong product portfolios and devise effective counter-strategies to acquire a competitive edge.
➢ To develop effective R&D strategies, gather information, analysis, and strategic insight from competitors.
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