Satellite manufacturing and launch: Key market research findings
- Demand for electro-optical imaging drives market growth
- Satellite manufacturing accounts for a majority of the market’s revenue
- Key vendors – Airbus Defense and Space, Boeing, Lockheed Martin, and Orbital ATK
Technavio’s market research analysts predict the global satellite manufacturing and launch market to grow at a CAGR of around 5% between 2016 and 2020. The growth of this market is augmented by rising demand for electro-optical imaging systems. The development of advanced image-enhancing equipment such as advanced remote sensing technology and high-resolution cameras have remarkably enhanced the quality of satellite-based earth observation images. The global satellite manufacturing and launch market was dominated by the Americas in 2015 by accounting for a market share of around 36%. Factors such as advanced infrastructures and active involvement in space programs will nurture the growth of the satellite manufacturing and launch market in the Americas during the forecast period.
The new market research report from Technavio presents a breakdown and analysis of the satellite manufacturing and launch segments based on the application.
“The development of reusable space vehicles is one of the most noteworthy trends in the global market for satellite manufacturing and launch. Satellite launches are mostly done using expendable launch vehicles (ELVs) that carry a payload to the orbit, and can be used only once. Reusable space launch vehicles, on the other hand, substantially reduce the cost of access to space, given the rockets are used for multiple missions. Companies such as SpaceX are developing such reusable space launch vehicles that can re-enter the earth without burning and return to the launch pad for a vertical landing,” says Avimanyu Basu, Lead Analyst, Aerospace & Defense, Technavio Research.
In 2015, the satellite manufacturing segment accounted for around 75% of the overall market revenue to become the key revenue generating application of the global market. Currently, the US, Russia, China, Japan, and few European countries lead the satellite manufacturing market worldwide. Satellites for military surveillance, commercial communications, and civil/military communications account for a major portion of the market in terms of revenue. The emergence of nano and microsatellites is also a key factor fueling the growth of this market segment.
The key vendors in the global satellite manufacturing and launch market include Airbus Defense and Space, Boeing, Lockheed Martin, and Orbital ATK. The global satellite manufacturing and launch market is highly competitive in nature. Vendors in the market compete on the basis of reliability, product quality, cost, and aftermarket services. In order to survive and succeed in this intensely competitive environment, it is imperative for the vendors to provide cost-effective and high-quality satellites and their launch systems using latest technology and materials.
A more detailed analysis is available in the Technavio report, Global Satellite Manufacturing and Launch Market 2016-2020.
We can customize reports by other regions and specific segments upon request.
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