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The Satellite Manufacturing and Launch Systems Market is segmented by Type (Satellite and Launch Systems), Application (Military and Government, and Commercial), and Geography.
2018 - 2026
Fastest Growing Market:
The satellite manufacturing and launch systems market is poised to register a CAGR of 3.71%, during the forecast period.
The scope of the market includes demand and forecast for the satellite manufacturing and launch systems industry for both conventional and small satellites. Satellites launched by the institutes and universities for research and other civilian non-profit purposes are covered under the Military and Government segment of the study.
|Military and Government|
|Rest of the World|
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Currently, the military and government segment has the highest revenue share in the market. Armed forces across the world have been strengthening their satellite networks to perform more efficient intelligence, surveillance and reconnaissance (ISR) missions that essentially need secure and robust communication channels, accessible from anywhere by the forces. More data bandwidth and reliable communication infrastructure are being demanded by the armed forces to meet the growing requirements for large scale data transfer. The development of tactical communication systems, tactical data links, modern network-centric battle force capabilities, and advanced SATCOMs generate significant demand for military communication satellites. SATCOMs are also expected to extend to new terrestrial communications networks that may improve the operational agility and border protection. In this regard, several countries are emphasizing launching communications satellites for better data transfer capabilities. For instance, in July 2020, South Korea launched its first-ever dedicated military communications satellite through the private operator SpaceX. On the other hand, the launches of satellites, especially smaller ones, are being done on a large scale by universities, colleges, and even high school students. With governments and various foundations currently funding the research in the civil satellites, a constant growth of this segment is expected during the forecast period.As part of NASA’s CubeSat Launch Initiative, which provides opportunities for small satellite payloads built by universities, high schools and non-profit organizations to fly on upcoming launches, NASA provides these CubeSat developers a low-cost pathway to conduct scientific investigations and technology demonstrations in space, thus enabling students, teachers and faculty to obtain hands-on flight hardware development experience. Till October 2020, NASA has selected 192 CubeSat missions, 104 of which have been launched into space. Such developments are expected to propel the growth of the segment during the forecast period.
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By Geography, North America registered the highest market share in 2019. The US is one of the leading countries globally in terms of satellite development and launches. Owing to the plethora of potentials in several aspects of commercial and defense applications, the use of satellites has gained substantial acceptance in the region. The country has several satellites orbiting in space for serving both its commercial and defense needs. However, the highest growth in the market is expected to be from the Asia Pacific region, mainly due to the increasing space launches from China and India. India has become a global leader for third-party launch services and has several ongoing R&D programs for new launch platforms. India announced that the Indian Space Research Organisation’s (ISRO) arm of commercial operations, the Antrix Corporation, clocked in INR 62.98 billion in revenue from launching 239 satellites over the last three years, and the revenues have been continually growing. Starting in April 2021, India is gearing up to launch 10 Earth observation satellites, including optical, multi- and hyperspectral, and synthetic aperture radar satellites. The disclosed launch plans also include three communication satellites and two navigation satellites. In the space launch industry India is proceeding with a Reusable Launch Vehicle (RLV) project to demonstrate technologies for developing a wing body vehicle like that of an aircraft. India also envisions to develop a Hypersonic Air Breathing Vehicle with Air frame integrated system (HAVA) that utilizes scramjet engine power and may be used for the design and development of a Two-Stage-to-Orbit (TSTO) vehicle. Such programs are expected to direct significant investments towards the space sector in India. Besides, China has been launching the highest number of rockets compared to any other country in recent years. In the upcoming years, the country plans to launch the world’s biggest space telescope, the world’s most massive rocket, and a space station to rival the ISS. In September 2020, China became the third country to conduct a satellite launch from an ocean platform when it launched nine Jilin-1 Gaofen-03 (High Resolution-03) Earth observation satellites onboard a Long March 11 rocket. Such developments are expected to propel the growth of the region in the years to come.
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Northrop Grumman Corporation, Lockheed Martin Corporation, ArianeGroup, Space Exploration Technologies Corp., and Thales Group are some of the prominent players in the market. The market is fragmented, with many players venturing into the manufacturing of satellites and launch systems and sub-systems. Joint ventures between the significant aerospace and defense players, like the Ariane group (a venture between Airbus and Safran), Thales Alenia Space (a Thales/Leonardo company), and United Launch Alliance (a joint venture of the companies Boeing and Lockheed Martin Corporation) have been prominent in the market. The demand for small satellites is also on the rise. This would be a key point of concentration for the satellite manufacturers to incorporate the necessary types of technologies in their product portfolio to gain the attention of customers. The cost of manufacturing satellites and launch service costs will be the two prominent parameters for the companies to compete. Other parameters like technological advancement and collaborations will help the companies to reduce the manufacturing cost, miniaturization of satellites, and increase the number of launches. The move towards electric propulsion systems and reusable rockets will further propel the market growth.
1.1 Study Assumptions
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.3 Market Restraints
4.4 Industry Attractiveness - Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1.2 Launch Systems
5.2.1 Military and Government
5.3.1 North America
126.96.36.199 United States
188.8.131.52 United Kingdom
184.108.40.206 Rest of Europe
220.127.116.11 South Korea
18.104.22.168 Rest of Asia-Pacific
5.3.4 Rest of the World
6. COMPETITIVE LANDSCAPE
6.1 Vendor Market Share
6.2 Company Profiles
6.2.1 Northrop Grumman Corporation
6.2.3 Space Exploration Technologies Corp.
6.2.4 Blue Origin
6.2.5 Lockheed Martin Corporation
6.2.6 The Boeing Company
6.2.7 MITSUBISHI HEAVY INDUSTRIES LTD
6.2.8 Sierra Nevada Corporation
6.2.9 Thales Group
6.2.10 Maxar Technologies Inc.
6.2.11 Dynetics Inc.
6.2.12 SpaceQuest Ltd
7. MARKET OPPORTUNITIES AND FUTURE TRENDS