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

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.