The global satellite manufacturing and launch market exhibited moderate growth during 2015-2020. Looking forward, IMARC Group expects the market to grow at a CAGR of around 3% during 2021-2026. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor.
A satellite is a human-made spacecraft manufactured to orbit the Earth and other celestial objects to retrieve and process topographical information. Satellites are usually made using light-weight metals such as titanium and aluminum, along with composites and alloys, including aluminum-beryllium and nickel-cadmium. Currently, satellite manufacturing and launch organizations deal with Low Earth Orbit (LEO), geostationary (GEO) and sun-synchronous orbit satellites, which are used for remote communication, sensing, surveillance, transmission, traffic control and telemetry.
The increasing utilization of satellites for military surveillance and related defense applications is one of the key factors driving the growth of the market. They are also used for various commercial applications, such as global positioning services (GPS), satellite-based telemetry and internet connectivity. Furthermore, a reduction in the overall launch costs of satellites is another factor providing a boost to the market growth. Additionally, miniaturization of satellites with increased payload capabilities is also creating a positive outlook for the market. These satellites are compact in size and enable additional load on a single launch vehicle, which enhances the profit margins for the organizations. They are considered as one of the most effective solutions for cost reduction while ensuring optimum performance. Apart from being used indirectly to operate larger satellites, they are also widely utilized by research institutes and universities for technology demonstration sessions. Other factors, including the utilization of 3D technology in the manufacturing process, along with the implementation of favorable government policies to promote space research and increasing investments in research and development (R&D) by the private sector, are projected to drive the market further.
Breakup by Segment:
Satellite Launch System
Breakup by Satellite Type:
LEO (Lower Earth Orbit) Satellites
MEO (Medium Earth Orbit) Satellites
GEO (Geosynchronous Equatorial Orbit) Satellites
Beyond GEO Satellites
Breakup by Application:
Earth Observation Services
Research and Development
Breakup by End-Use Sector:
Military and Government
Breakup by Region:
Middle East and Africa
The report has also analysed the competitive landscape of the market with some of the key players being Airbus SE, Arianespace, Blue Origin LLC, Boeing, Geooptics Inc., Innovative Solutions in Space, Lockheed Martin Corporation, Northrop Grumman Corporation., Raytheon Company, Space Exploration Technologies Corporation, Thales Group, Viasat Inc., etc.
Key questions answered in this report:
How has the global satellite manufacturing and launch system market performed so far and how will it perform in the coming years?
What has been the impact of COVID-19 on the global satellite manufacturing and launch system market?
What are the key regional markets?
What is the breakup of the market based on the segment?
What is the breakup of the market based on the satellite type?
What is the breakup of the market based on the application?
What is the breakup of the market based on the end-use sector?
What are the various stages in the value chain of the industry?
What are the key driving factors and challenges in the industry?
What is the structure of the global satellite manufacturing and launch system market and who are the key players?
What is the degree of competition in the industry?