Global Satellite Manufacturing and Launch Market 2015-2020
The Global Satellite Manufacturing and Launch System Market is expected to grow at a CAGR of 5.32% to reach $ X.XX billion by the year 2020. The application for satellites have increased tremendously in the past decade. Majority of the larger countries have a need for having dedicated satellites. A lot of development in this space has been taking place globally. Till recently only a handful of countries had their own location positioning systems, but recently in 2016, India also joined the very short list of nations having their individual positioning systems.
The application of satellites led by the military and civil sector is increasing at a tremendous pace. The growing use of Unmanned Aerial Vehicles and smart weapons specifically has put a lot of constraint on the existing infrastructure. The rising use of such systems has increased the demand of satellites tremendously and will be one of the major drivers of the satellite manufacturing and launch market. The development of the all-electric propulsion systems for satellites will increase the efficiencies and will contribute significantly to the market.
The market for satellite launch systems will see a higher rate of growth by the end of the forecast period and will control close to 30% of the Global Satellite Manufacturing and Launch Market. The higher growth rate of the launch systems will be on account of more nations investing in these systems, in order to get independent in launching their satellites. Asia Pacific will grow at the fastest rate in the forecast period and will be the largest market by the end of the forecast period. India and China will lead the growth globally in this space till 2020.
Orbital ATK, Boeing Defense Space & Security, and Airbus Defense and Space are some of the important players in the Global Satellite Manufacturing and Launch Market. The market has been segmented by type (Satellite Manufacturing, Launch Systems), by Application (Military, Commercial, and Government) and by Geography (North America, South America, Europe, Middle East & Africa and Asia Pacific).
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