In the context of satellite manufacturing and launch system in the space industry, a satellite is an artificial body that is launched and placed intentionally to orbit a planet or celestial object. These artificial bodies are usually computer-controlled systems that are also programmed to function semi-independently. They are used for several purposes. The common types of satellites are used for collecting earth observation data to meet military and civilian objectives, including mapping and navigation, tracking, weather forecasting, improving communications and connectivity, monitoring environmental impact and the spacecraft itself.
The rising demand for developing flexible, robust, and affordable satellites and rockets has substantially changed the industry of space exploration over the years. To boost existing capabilities and bridge the gap between demand and supply, private corporations have joined governments in creating and launching satellites and rockets. As a result, the space industry is growing rapidly with an ever-increasing investment from the private sector. During the forecast period 2019-2025, the satellite manufacturing and launch system market is expected to register an unprecedented high CAGR globally with the highest growth from the Asia-Pacific region.
Request a Free Sample Report, Click Here @ https://www.wiseguyreports.com/sample-request/4415659-global-satellite-manufacturing-and-launch-system-market-size
However, the market is fast becoming highly competitive in the presence of multiple participants with large constellation based business models. The increasing trend of investing in reusable space vehicles is pulling down the costs of manufacturing and sending satellites into space. The potential of cutting the costs further will expand with more industry participants and dedicated investment in serial production in the years to come. Some of the top market players of satellite manufacturing and launch system are the United States, UK, Germany, France, and Japan. The market will also see some key players from India, China, and Southeast Asia in the near future.
Key Players :
The market segment is usually done based on product type and application. These artificial space products can be split into two types – Satellite Manufacturing, and Launch Systems. This particular segmentation takes into account the market size by scenario, region, mass class, user segment, technologies, new business models, and competitive landscape. By application, there are also two types of segmentation available for satellite manufacturing and launch system market – Military and Government, and Commercial. The commercial segment is expected to grow at the highest CAGR during the forecast period of 2019-2025 due to the skyrocketing demand for monitoring and tracking large project developments, construction sites, shipping routes, and multi-scale mapping in real-time.
The market of satellite manufacturing and launch system market can also be observed by region or countries. These countries are the top players in the space industry because of the infrastructure, technological advancement, and rapid investment. These countries are North America, Canada, United Kingdom, France, Russia, the rest of Europe, Japan, China, India, South Korea, and rest of Asia-Pacific. The United States currently tops the list because it allocates the highest space budget and has the highest technological advancements when compared to other countries in the world. For the fiscal year 2019 itself, NASA’s budget for space mission was USD 21.5 billion.
Latest Industry News
Lately, Northrop Grumman has announced to launch its new OmegA rocket from Vandenberg Air Force Base, California. It’s the same pad that ULA (United Launch Alliance) uses for Delta 4 heavy launches. This SLC-6 or Space Launch Complex 6 from where the leading American global aerospace and security company will launch its new rocket is a launch facility that was built for NASA’s Space Shuttle in the 1980s.
Company Name: Wiseguyreports.com
Contact Person: Norah Trent
Email: Send Email
Phone: +1 646 845 9349, +44 208 133 9349