Satellite and Space Market By Type (Large Satellite,Mini Satellite, Micro Satellite, Nano Satellite) By End User (Commercial, Civil, Government) By Application(Scientific Research, Technology Demonstration and Verification, Earth Observation and Remote Sensing, Scientific Research, Communication) - Growth, Future Prospects & Competitive Analysis, 2016 - 2028.

The Global Satellite and Space Market report examines a significant satellite and space industry analysis based on key parameters. This report consists of investment strategies, investment needs in the satellite and space industries, and the multiple benefits they bring to investors. Importantly, this report explores the significant changes in global technology regulations affecting the satellite and space industries and how economic and non-economic barriers support the growth of the satellite and space markets. Outlined. In addition, this report analyzes historical and forecast market sizes at the global, regional, and country levels. In-depth analyses of important investment propositions, the demand-supply gap, competition positioning, and STAR, SRC, and Tornado analyses are also included in the research. Porter's Five Forces Analysis, PESTEL Analysis, and Value Chain Analysis are notable analyses and significant technological advancements.

Key Highlights of the Report

Key segments performance of satellite and space market

• In 2021, large satellites dominated the type segment due to the increasing demand for large satellites as they are suitable for communication technologies, remote sensing, and others.
• In 2021, the commercial mode led the end-user segment and was dominated due to the increasing demand for satellite-based commercial applications such as monitoring and observations.
• In 2021, earth observation and remote sensing captured the highest market share in the application segments, and demand growth is predicted as the focus on remote technologies increases.

Which region dominated the satellite and space market?

In 2021, the North American region dominated the market for satellites and space, which also held the largest market share. The increasing investments in satellite development and the presence of major manufacturers are the driving factors behind expanding the satellite and space markets in North America. The rising investments by the government in technological sectors are also expected to grow, especially in the satellite and space markets. Furthermore, the rising research and development activities by NASA are a major driver of the anticipated increase in the satellite and space market in the North American region.

US market performing in the satellite and space market

Due to the presence of numerous space research institutions like NASA and others that supported the expansion of the U.S. satellite and space market, the U.S. market generated the highest revenue in the North American satellite and space industry.

Competitive environment of the satellite and space market

The market players are collaborating to develop new technologies for the end users for various purposes, such as satellite communication, earth observation, and others. For instance, in August 2021, the launch of a supply flight carrying in-space manufacturing to create industrial-scale zero-gravity human tissue microcultures for terrestrial study and medicine is anticipated by Airbus Defense and Space and the Space Hub of the University of Zurich (U.Z.H.). On I.S.S. 18, the initial preparatory tests were performed a month ago.

Executive Summary

Technological advancements made in the global market for satellites and space

The market players are developing various innovations to improve satellites' capabilities, which support the growth of many industries. For instance, in January 2021, SpaceX launched a Falcon 9 rocket from Cape Canaveral carrying 143 miniature satellites. Satellite producers could reduce the size of the satellites while boosting their functioning due to the advancement of space technology. Similarly, in June 2021, the EUTELSAT Quantum satellite was built and sent to Airbus Defense and Space's facility in Kourou, French Guiana, where it will be launched by an Ariane 5 rocket. The great degree of customization and flexibility in inter-orbital maneuvers, together with the improvement of supply services due to previously unheard-of in-orbit configurability in terms of power, coverage, and frequency, will revolutionize the commercial satellite industry. Thus, these launches of innovative satellites are expected to support market growth during the forecast timeframe.

Key investments by the players in the satellite and space markets

The market players and governments of many countries are investing heavily in space programs to enhance defense capabilities, which aids the growth of the satellite and space markets. For instance, in May 2021, United Launch Alliance (ULA) launched the fifth satellite of the U.S. Space Force's Space-Based Infrared System. The Lockheed Martin-built $1 billion satellite is intended to recognize and monitor missile launch plumes worldwide with its onboard infrared sensors. The U.S. will be able to get ready for any impending attacks thanks to its capabilities.

Some major players in the market are Intelsat, S.E.S. S.A., Eutesat Communications S.A., Airbus S.A.S., Lockheed Martin Corporation, Thales Group, Boeing, Orbital Sciences Corporation, Millennium Space Systems, Inc., and Planet Labs Inc.

Main market drivers for satellites and space

The rising need for mobile satellite services and small satellites for earth observation services around the energy, defense, and agriculture industries are factors increasing the space and satellite market's growth. Additionally, satellites are usually artificial machines set to orbit Earth from space and provide functionality. The increasing demand for satellites from commercial, government, and other sectors is expected to increase due to the satellite technologies used by military forces across the globe to increase their defense resources. Furthermore, the increasing financial support by the government for research and development is also a major factor in the satellite and space market's growth.

Major risks for the satellite and space market

The high cost associated with the components is the major restraint on the satellite and space market. The high cost is required for new space network stations and relevant space infrastructure. Moreover, the instability of satellite and space prices is also a factor that restrains the satellite and space market's growth during the forecast period.

Key end user in the satellite and space market

The end users of satellites and space are classified into commercial, civil, government, and others. The commercial mode led the end-user segment, which is dominated due to the increasing demand for satellite-based commercial applications such as monitoring and observation, remote sensing, and other applications. Furthermore, the government segment has also seen significant growth due to rising government spending on manufacturing, which is expected to grow during the forecast period.

Satellite and space market performance in different regions

In 2021, the North American region dominated the market for satellites and space, which also held the largest market share. These reasons for the growth of North America's satellites and space market are the increasing investments in the development of satellites and the presence of key manufacturers. The rising investments by the government in technological sectors are also expected to grow, especially in the satellite and space markets. Furthermore, the rising research and development activities by NASA are a major driver of the expected increase in the satellite and space market in the North American region.

Asia Pacific accounts for the largest share of the satellite and space market. The Asia Pacific region is a valuable market for leading the satellite and space markets due to the increasing demand for satellites in countries such as India, Japan, and China. Furthermore, the Indian Space Research Organization plans to launch some major satellites, such as ten earth observation satellites and two navigation satellites. These factors contribute to the growth of the satellite and space markets in the Asia Pacific region.

Regulatory landscape for the satellite and space market

Many countries' governments support it. In addition, the regulations on market players are limited, which supports the growth of companies and developments in the market. For instance, the U.S. government established a U.S. Space Command, which consists of a Space Operations Force and a Space Development Agency, in December 2019 as part of the National Defense Authorization Act for 2020. The U.S. Military Department and the aerospace and defense industries will undoubtedly profit from this move, enabling more concentrated and expedited investment in ground-breaking technologies and capabilities.

Market Size of Satellite and Space regarding value

The global satellite and space market is anticipated to grow at a substantial CAGR of 6.10% in the upcoming years. The global satellite and space market was estimated to be worth USD 3057.56 million in 2021 and was expected to be worth USD 4361.81 million by 2028.

Future plans of leading satellite and space market companies

The prominent market players are collaborating and developing new satellites in the current scenario and are expected to launch more satellites into the earth's orbit for various purposes, which support the growth of companies and the market. For instance, in January 2021, the U.S. Space Force awarded Lockheed Martin a USD 4.9 billion contract to construct advanced missile warning satellites. The satellites will keep an eye on the planet from a geosynchronous orbit, 22,000 miles (36,000 kilometers) above the surface.

Segmentation of Global Satellite and Space Market-

Global Satellite and Space Market – By Type

• Large Satellite
• Mini Satellite
• Micro Satellite
• Nano Satellite

Global Satellite and Space Market – By End User

• Commercial
• Civil
• Government
• Others

Global Satellite and Space Market – By Application

• Scientific Research
• Technology Demonstration and Verification
• Earth Observation and Remote Sensing
• Scientific Research
• Communication

Global Satellite and Space Market – By Region

• North America
  • US.
  • Canada
• Europe
  • Germany
  • France
  • UK.
  • Italy
  • Spain
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • South-east Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • C.C. Countries
  • South Africa
  • Rest of Middle East and Africa