Global Satellite Manufacturing Market

Global Satellite Manufacturing Market Size, Share, Growth Analysis, By Satellite(LEO, MEO), By Application(Communication, Earth Observation), By Size(Small, Medium) - Industry Forecast 2024-2031

Report ID: SQMIG45J2146 | Region: Global | Published Date: February, 2024
Pages: 157 | Tables: 93 | Figures: 76

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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FAQs

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).

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. '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)'

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.

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.

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.

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