USD 17.38 Billion
Global Satellite Manufacturing Market Size, Share, Growth Analysis, By Satellite(LEO, MEO), By Application(Communication, Earth Observation), By Size(Small, Medium) - Industry Forecast 2023-2030
Report ID:
SQMIG45J2146 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|
Tables:
93 |
Figures:
76
Global Satellite Manufacturing Market Insights
Global Satellite Manufacturing Market size was valued at USD 17.38 Billion in 2022 and is poised to grow from USD 18.42 Billion in 2023 to USD 29.36 Billion by 2031, at a CAGR of 6% during the forecast period (2024-2031).
The need for satellite-based communication, Earth observation, navigation, and space exploration has been particularly strong recently, driving substantial development and change in the worldwide satellite manufacturing industry. A significant driving force has been the increase of satellite-based communication services, including mobile networks, broadband internet, and TV transmission. This trend has been further intensified by the ongoing deployment of 5G networks and the need to close the digital divide in rural areas. Earth observation satellites are essential for tracking natural catastrophes, keeping track of climate change, and evaluating environmental damage. Governmental agencies and commercial businesses are working harder to launch additional Earth observation satellites so that data may be collected for research, disaster management, and resource planning.
Governmental space agencies and private companies like SpaceX and Blue Origin have made large expenditures in space exploration projects, which has worked as a driver for satellite production. For expeditions to the Moon, Mars, and other celestial worlds, satellites are essential. It is important to note, however, that the growing number of satellites circling the Earth has sparked worries about space debris and potential collisions. International organizations and regulatory authorities like the FCC are assiduously establishing rules to reduce these hazards.
Additionally, because technology is advancing so fast, it is difficult for satellite producers to keep up with the latest innovations. The continual challenge of creating and launching new satellites that can keep up with changing technology falls on manufacturers. It can be difficult and time-consuming to get the requisite spectrum allocation for satellite communication and navigation, which causes delays and extra costs for manufacturers. Although downsizing lowers costs, building high-capacity satellites for complex missions is still expensive. In the satellite manufacturing sector, finding a balance between cost-efficiency and performance remains a difficult task.
US Satellite Manufacturing Market is poised to grow at a sustainable CAGR for the next forecast year.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Small
Fastest Growth
Small
Growth Rate
6% CAGR
Global Satellite Manufacturing Market ($ Bn)
Country Share for North America Region (%)
Global Satellite Manufacturing Market By Size ($ Bn)
Global Satellite Manufacturing Market By Size (%)
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Global Satellite Manufacturing Market Segmental Analysis
The global satellite manufacturing market is segmented on the basis of satellite type, Application, Size, Region. By satellite type, the market is segmented into LEO, MEO, GEO, others. By application, the market is segmented into communication, earth observation, navigation, space observation, Others. By size, the market is segmented into small, medium, large. By region, the market is segmented into North America, Europe, Latin America, Asia- Pacific, Middle East and Africa.
Satellite Manufacturing Market Analysis By Size
Small, Medium, and Large satellites are the three basic categories into which the worldwide satellite manufacturing business has historically divided spacecraft depending on their size. This categorization reflects the large range of satellites that are available, taking into account variations in physical characteristics and functionality. Due to their more affordable manufacturing costs and the rising need for a variety of applications, including as Earth observation, communication, and technological demonstrations, small satellites, such as CubeSats and microsatellites, have been expanding significantly. They are now available to a wider range of clients thanks to their affordability and versatility, such as universities, research facilities, and up-and-coming space entrepreneurs.
The medium and large satellite sectors, however, continue to be essential for missions that need improved performance and capabilities, such as geostationary communication satellites or challenging research projects. For missions that need missions that require advanced performance and capabilities, the medium and large satellite sectors are essential. For example, geostationary communication satellites depend on big and medium satellite platforms to deliver dependable and ongoing telecommunications services across huge areas. The size and intricate mechanisms of these satellites are necessary because they must maintain a fixed location with respect to the Earth's surface. In addition, sophisticated instrumentation, power generation, and data handling skills are frequently needed for challenging scientific missions, such as those that research far-off celestial objects or carry out experiments in space.
Satellite Manufacturing Market Analysis By Application
The satellite manufacturing market is divided into five categories based on application: communication, earth observation, navigation, space observation, and others. Various applications have been used to segment the satellite manufacturing market, with the Communication category often accounting for the greatest share. The main reason for this is the ongoingly increasing demand for communication satellites, which are essential for broadcasting, giving internet access, and delivering telecommunication services globally.
On the other hand, one of the satellite manufacturing market's fastest growing segments has been the Earth Observation segment. Because of the crucial roles that earth observation satellites play in environmental monitoring, agriculture, disaster management, and urban planning, they have significantly increased in popularity. The exceptional rise seen in this market has been largely attributed to the growing demand for real-time data and information in various fields.
Global Satellite Manufacturing Market By Size, 2022 (%)
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Global Satellite Manufacturing Market Regional Insights
North America has dominated the world market for satellite production. The existence of significant satellite producers and operators, as well as significant public and private sector investments in satellite technology, are principally responsible for this supremacy. Many of the top satellite businesses and organizations are based in the United States, which has been essential in fostering innovation and market dominance. The dominance of North America in the satellite manufacturing industry has been considerably aided by businesses like Boeing, Lockheed Martin, and SpaceX.
Asia has recently emerged as one of the continents with the greatest rate of growth in the world market for satellite manufacturing. Satellite manufacturing operations have increased as a result of significant investments made in space projects by several Asian nations, particularly China and India. With its ambitious plans for space research and a burgeoning satellite business, China has emerged as a major participant in the field. Additionally, India's Indian Space Research Organisation (ISRO) has shown off its prowess in satellite manufacture and launch services, adding to Asia's expansion. Asia's satellite manufacturing industry is one of the fastest growing in the world due to the region's growing need for satellite-based communication, Earth observation, and navigation services.
Global Satellite Manufacturing Market By Geography, 2024-2031
- Largest
- Fastest
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Global Satellite Manufacturing Market Dynamics
Satellite Manufacturing Market Drivers
Earth Observation Applications
- The significance of earth observation satellites in environmental monitoring, disaster management, and agriculture has increased. Real-time data is valuable for decision-making, and governments and businesses throughout the world have realized this, which has increased demand for such satellites.
Emerging Space Economies
- The need for satellite manufacturing services has increased due to the expansion of space-related activities in developing nations like China and India. Since these nations have made significant investments in their space programs, satellite producers now have more prospects.
Military and Defense Needs
- Manufacturing of satellites has been significantly boosted by the defense industry. Advanced satellite technologies have been made possible by applications for military surveillance, safe communication, and navigation.
Satellite Manufacturing Market Restraints
Concerns with Sustainability
- Sustainability issues have been brought up by an increase in space debris and worries about how satellite deployments may affect the environment. The expansion of the sector could be impacted by legal limitations and public scrutiny.
Alternative Technologies' Rivalry
- Questions have been raised concerning the long-term viability of satellites for some applications due to developments in ground-based technology like high-altitude balloons and drones, which might possibly restrain market growth.
Large Initial Costs
- Satellite development, manufacture, and launch may be quite expensive. For smaller businesses and nations wishing to advance their satellite capabilities, this cost element may operate as an entrance barrier.
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Global Satellite Manufacturing Market Competitive Landscape
Governmental organizations, established industry giants, and inventive entrants combine to form the competitive landscape of the worldwide satellite manufacturing market. Due to their significant knowledge, cutting-edge technology, and robust worldwide networks, major firms like Boeing, Lockheed Martin, and Airbus dominate the market. Large government contracts are frequently won by these businesses, and they are respected allies for global commercial satellite operators. To provide cutting-edge satellite solutions, they consistently make research and development investments.
Private businesses like SpaceX, who have pioneered ground-breaking improvements in satellite production and launch services, have, nevertheless, caused upheaval in the industry. Reusable rocket technology developed by SpaceX has drastically cut launch costs, defying established industry standards. Additionally, new market entrants like OneWeb and Blue Origin have encouraged competition and innovation.
Moreover, governmental space agencies from developing space economies like China's CNSA and India's ISRO are becoming more prevalent in the world's satellite production sector. These organizations have actively sought out satellite production capabilities and increased their market share in both home and foreign markets. Collaboration between public and commercial organizations, together with continuous technological breakthroughs, will continue to define the competitive dynamics of the satellite manufacturing business as the market develops.
Satellite Manufacturing Market Top Player’s Company Profiles
- Boeing (Chicago, USA)
- Lockheed Martin (Bethesda, USA)
- ISRO (Indian Space Research Organisation) (Bengaluru, India)
- Airbus (Toulouse, France)
- Northrop Grumman (Falls Church, USA)
- SpaceX (Hawthorne, USA)
- Thales Alenia Space (Cannes, France)
- Israel Aerospace Industries (IAI) (Lod, Israel)
- SSL (Space Systems Loral) - Maxar Technologies (Palo Alto, USA)
- Mitsubishi Electric Corporation (Tokyo, Japan)
- Ball Aerospace (Boulder, USA)
- Harris Corporation (Melbourne, USA)
- NovaWurks (Los Alamitos, USA)
- Raytheon Technologies (Waltham, USA)
- Orbital Sciences Corporation - Northrop Grumman Innovation Systems (Dulles, USA)
- Blue Origin (Kent, USA)
- RUAG Space (Zurich, Switzerland)
- Safran (Paris, France)
- China Aerospace Corporation (CASC) (Beijing, China)
- Arianespace (Evry, France)
Satellite Manufacturing Market Recent Developments
- In March 2023, SpaceX successfully launched 49 Starlink satellites from Cape Canaveral Space Force Station in Florida. This was the largest single launch of satellites in history.
- In February 2023, China launched the Tiantong-03 satellite, its first commercial communications satellite. The satellite is designed to provide high-speed broadband internet services to users in China and Southeast Asia.
- In January 2023, The European Space Agency (ESA) launched the Euclid space telescope. The telescope is designed to study the evolution of the universe by measuring the distribution of dark matter and dark energy.
Global Satellite Manufacturing Key Market Trends
- Utilizable Rockets: As demonstrated by SpaceX's Falcon 9, the development of reusable launch vehicles can reduce the cost of launching satellites and increase the frequency of launches, which will affect satellite production.
- Satellite downsizing: The demand for microsatellites and CubeSats continues to grow for smaller satellites. These compact and inexpensive satellites have multiple uses, including internet of things connectivity and Earth observation.
- Global Navigation Satellite Systems (GNSS): The growth and modernization of GNSS, including GPS, Galileo and GLONASS have influenced a number of industries, including transportation and agriculture, by enabling the creation of more precise and dependable navigation and timing systems.
Global Satellite Manufacturing Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Product types team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to our global satellite manufacturing market analysis, the global satellite manufacturing market displays a dynamic environment influenced by a number of variables. Disruptive entrants like SpaceX have brought in an age of innovation and cost-cutting, while long-established titans like Boeing, Lockheed Martin, and Airbus continue to rule with their extensive expertise and technological power. The satellite market is fast changing due to advances in downsizing, a rise in the need for connection solutions, and a move towards smaller, more affordable satellites. Government space agencies from rising economies, notably China and India, are also establishing their presence and broadening the field of competition. The development of reusable rockets, environmental issues, and ambitious aspirations for space exploration, such as Mars colonization, are all having an impact on the satellite manufacturing industry.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 17.38 Billion |
| Market size value in 2031 | USD 29.36 Billion |
| Growth Rate | 6% |
| Base year | 2022 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Global Satellite Manufacturing Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Global Satellite Manufacturing Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Global Satellite Manufacturing Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Satellite Manufacturing Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Satellite Manufacturing Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Global Satellite Manufacturing Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Global Satellite Manufacturing Market Report Snapshots
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