/ Press Release Details /

Satellite Manufacturing and Launch Market Size Worth USD 21.6 Billion by 2025 | CAGR: 2.9%

The global satellite manufacturing and launch market is expected to grow at CAGR of 2.9% to reach USD 21.6 billion by 2025.

The satellite system nowadays plays a pivotal part in the day to day life. After the launch of first satellite Sputnik 1, till now, around 8,000 satellites are launched globally. As per the article published by TPM Media LLLC, around 1,100 active man-made satellites (government as well as private) are in orbiting system. From telemetry, surveillance, communications to remote sensing, the use of satellite is widespread. Such huge figures are justifying the bright future of market.

Whether, it is about the inter security of a country or establishing a proper framework of the communication system, demand for satellite manufacturing and launch system is rising in the global economy. There is a huge demand for satellites to ensure a stringent internal and external surveillance system in various countries which is giving a push to the industry growth. Also, various satellite-based commercial usage such as GPS services, the telemetry systems as well as the internet have a great impact on the growth of this industry.

In addition, with the arrival of more and more devices which are dependent on satellites, there is no doubt that there will be a strong possibility for this industry growth. One such example would be of the devices that are used to monitor infants. The manufacturers of this device are marketing it as a safety device which will monitor the movement of the infants inside the house while parents are away. The awareness of infant protection is rising ever so rapidly and also, there is great proclivity towards the setting up nuclear families. These are some of the main factors causing the rise of these devices.

Key Takeaways

In terms of mission type, the industry is categorized into military surveillance, earth observation services, military communication, commercial communication, meteorology, navigation, and R&D
Among these, earth observation services are the fastest growing segment. It is noted that from 2007-2016, more than 180 earth observation satellites were launched.
Also, the study analyzed that the use of satellites for military surveillance will increase in future. Satellite manufacturers are paying more attention on small satellites which will allow launch of multiple satellites in one orbit.
Depending upon the position in the orbit, there are many types of satellites such as LEO (Low Earth orbit), GEO (Geosynchronous), MEO (Medium Earth orbit), and Beyond GEO
LEO segment is expected to retain its dominance during the study period owing to the augmentation of small satellites launch in Low Earth Orbit
Key players such as Boeing Defense Space & Security, Orbital ATK, Lockheed Martin, Raytheon Airbus Defence and Space, SSL, and ISS Reshetnev (Russia) are profiled in detail based on attributes such as company overview, financial highlight, key takeaway and strategic initiatives

KEY BENEFITS OF THE REPORT:

The report presents a macro and micro-level outlook regarding the industry. Thus, it becomes easy for our clients to perceive the business landscape and take a glimpse of their own standing in it.
A thorough analysis of relevant statistical data to estimate the market paradigms
Exceptional understanding of region and country-specific markets. The report will answer some of the toughest questions regarding the market shares, sizes, forecasts, and growth specific to the countries.
Well-designed strategic framework analyzes the market movements including regional expansion, mergers & acquisitions, and new product developments

The scope of this report covers the market by its major segments, which include as follows:

Market Segmentation

MARKET, BY MISSION TYPE