Latest News - Satellite Manufacturing And Launch Market: Communication satellite is expected to lead the Application segment during 2024-2028

The Satellite Manufacturing And Launch Market is being driven by Reduction in associative launch cost

The Satellite Manufacturing And Launch Market is expected to grow at a CAGR of 3.2% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 3923.1 million. The satellite manufacturing and launch market encompasses the production and deployment of satellites for various applications, including communications, weather, navigation, and military purposes. According to the 1967 Outer Space Treaty, space is a global commons, transcending national boundaries. Satellites play a pivotal role in delivering essential services to end-users and enhancing technological capabilities for countries. In the military sector, satellites facilitate intelligence acquisition, global communication, and nuclear threat deterrence. Current satellite technology equips ground troops with mission-specific data, enabling effective strategic planning, communication, navigation, targeting, weather prediction, and force protection. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Application
  • Communication satellite
  • Military surveillance
  • Earth observation satellite
  • Navigation satellite
  • Others
• Product
  • Satellite launch
  • Launch services
• End User
  • Commercial
  • Military
• Geography
  • North America
    • US
    • Canada
  • Europe
    • Germany
    • UK
  • APAC
    • China
  • South America
  • Middle East and Africa

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Reduction in associative launch cost
• Rising demand for multirole satellites
• Expanding scope of space exploration

However, the market also witnesses some limitations, which are as follows:

• Presence of satellite orbital debris
• Technological limitations and other vulnerabilities
• High cost of developing and manufacturing satellites

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Market Scope in Satellite Manufacturing And Launch Market Research Report

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Research Analysis Overview

The Satellite Manufacturing and Launch market encompasses the production and deployment of satellites for various applications, including Military and Government, Space Observation, Earth Observation, Communication, and more. Military and Government satellites are crucial for C4ISR (Command, Control, Communications, Computers, Intelligence, Surveillance, and Reconnaissance) integration, SATCOM (Satellite Communications), tactical data links, and tactical communication systems. Satellite Manufacturing Companies specialize in creating Communications Satellites for Internet and Telecommunications, GPS, and Space Warfare. These satellites play a significant role in defense forces and government agencies' military surveillance and space warfare. UAVs (Unmanned Aerial Vehicles) often rely on satellite data transmission for real-time intelligence services. Earth Observation satellites provide valuable data for industries, weather forecasting, and environmental monitoring. Space Observation satellites contribute to scientific research and discovery. The advancement of satellite mission technology continues to expand the capabilities of these essential tools, enabling new applications and services. Geostationary Orbit (GEO) satellites maintain a constant position above the Earth, ensuring uninterrupted coverage for various applications. Satellite Intelligence Services provide valuable insights from satellite data, enhancing situational awareness and decision-making capabilities. The Satellite Manufacturing and Launch market continues to evolve, driven by technological advancements and growing demand for satellite applications in both military and commercial sectors.

Market Research Overview

The global aerospace and defense industry comprises businesses involved in the production of commercial and general aviation aircraft, defense platforms for naval, land, and air applications, arms and ammunition, defense electronics, logistics equipment, and space technology, including platforms, equipment, and launch vehicles. This market also includes MRO activities related to the aerospace and defense sectors. According to Technavio, the global capital goods market size is determined by the collective revenue generated by manufacturers and providers in industries such as aerospace and defense, building and construction, electrical equipment, industrial conglomerates, machinery, trading companies, and distributors. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
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