Global Satellite Manufacturing and Launch Systems Market - Segmented by Application (Military, Commercial, and Government) and Geography - Market Forecast and Analysis (2018 - 2023)
The global satellite manufacturing and launch systems market is expected to grow at a CAGR of 5.32% till 2021.
Satellite applications, in both the military and civil sectors, have increased tremendously in the past decade. Specifically, the growing use of unmanned aerial vehicles and smart weapons have imposed greater constraints on the existing infrastructure. The rising use of such systems and spike in telemetry applications have increased the demand for satellites tremendously, acting as the major drivers of the satellite manufacturing and launch market. Till recently, only a handful of countries had their own location positioning systems; however, most countries now find the need for a dedicated satellite of their own. In 2016, India joined the very short list of nations having an individual positioning system.
Challenges related to outlining and assembling, as well as spending cuts in the military and guard divisions of Europe and the US, are expected to hamper the market growth. Development of an all-electric propulsion system for satellites would increase the efficiency and contribute significantly to the market.
The market has been segmented by:
Type - into satellite manufacturing and launch systems;
Application - into military, commercial, and government; and
Geography - into North America, South America, Europe, the Middle East & Africa, and Asia-Pacific.
The market for satellite launch systems is expected to have a higher growth rate by the end of the forecast period and would control close to 30% of the global satellite manufacturing and launch market. This would be on account of more nations investing in launch systems to get independent satellite launching systems. The Asia-Pacific region is projected to grow at the fastest rate, and would be the largest market by the end of the forecast period. India and China would lead the global growth in this space, till 2021.
Orbital ATK, Boeing Defense Space & Security, Antrix Corporation Ltd., Airbus Defense and Space, and SSL are some of the important players in the global satellite manufacturing and launch market.
What the report offers
Market analysis of the global satellite manufacturing and launch systems market, with region-specific assessments and competition analysis on a global and regional scale.
Market definition along with the identification of key drivers, opportunities and restraints.
Expert interviews and their insights on market shift, current and future outlook and factors impacting vendors short term and long term strategies.
Identification of factors instrumental in changing the market scenario, rising prospective opportunities, and key companies that can influence this market on a global and regional scale.
An extensively researched competitive landscape section with profiles of major companies, along with their market share.
Identification and analysis of the macro and micro factors that affect the satellite manufacturing and launch systems market on a global and regional scale.