Global 3D Printing in Low-Cost Satellite Market 2017-2021
About 3D Printing in Low Cost Satellite
3D printing involves the synthesis through the addition of successive layers of materials with the support of computerized control technology to design an object or component. This process allows manufacturers to produce small and micro-components of various shapes and size. It also allows the reduction of the overall weight of components, thus substantially reducing the overall weight of a satellite system. The use of 3D printing in the manufacturing of low-cost satellites can ensure a reduction in manufacturing time, overall cost association, and wastage of materials. Therefore, the adoption of 3D printing in the satellite sector is anticipated to reflect long-term sustainability while ensuring enhancement in the overall performance of a low-cost satellite.
Technavio’s analysts forecast the global 3D printing in low cost satellite market to grow at a CAGR of 55.71% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global 3D printing in low cost satellite market for 2017-2021. To calculate the market size, the report considers the new installations.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global 3D Printing in Low Cost Satellite Market 2017-2021
Technavio recognizes the following companies as the key players in the global 3D printing in low cost satellite market: Airbus, Boeing, Lockheed Martin, and Stratasys.
Other Prominent Vendors in the market are: Aerojet Rocketdyne and ExOne.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is economically viable space travel. The use of new-generation and reusable launch vehicles are paving the way for another successful and cost-effective makeover of satellite systems. In recent years, a number of countries are focused on innovative, cost-effective satellite launches”
According to the report, one of the major drivers for this market is rise in CubeSat development and deployment. With the growing demand for nano and micro satellites, it is expected that the manufacturing base of satellites will widen to various regions of the world. Many of the developing nations have also shown a keen interest in the utilization of satellites, such as CubeSats (U-class spacecraft). These satellites use enhanced electro-optical/infrared (EO/IR) sensor systems to obtain images of Earth. EO from such nanosatellite platforms will also revolutionize the scope of EO/IR sensors.
Further, the report states that one of the major factors hindering the growth of this market is limited economies of scale. As 3D printing technologies are comparatively new, it will be quite risky to develop a satellite or its components without developing a prototype. However, the development of satellite prototypes will increase the overall cost of the manufacturing process.
Airbus, Boeing, Lockheed Martin, Stratasys, Aerojet Rocketdyne and ExOne.
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