The global satellite manufacturing and launch market is anticipated to grow at a CAGR of 3.8% during the forecast period. The major factors for the growth of the market are the increasing demand for satellites by government and military for surveillance purpose and to alert people regarding natural calamities, which will fuel the growth of market during the forecast period.
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The launching of satellites is done by various countries due to various applications associated with it such as earth observation, communication and internet, space telescopes, and many others. With increase in investment in research and development of the satellites, it is expected to fuel the growth of the market during the period. Militaries across the globe use satellite for communication in the battlefield (SATCOM), which provides them secure and robust network. The increasing use of unmanned aerial vehicles (UAVs) will also fuel the growth of the market. On July 2020, South Korea launched its first military communications satellite with the help of SpaceX, a private space company. In India, from April 2021, Government of India started launching 10 Earth Observatory Satellites, which include optical satellites, radar satellites, and many others. All these factors and developments across the globe will propel the market during the forecast period. Some of the key global players in the satellite manufacturing and launch market include ISRO, Northrop Grumman Corporation, NASA, Lockheed Martin Corporation, Space X, and many others.
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Market Coverage
- Segment Covered-
o By Type
o By Application
- Competitive Landscape –ISRO, Northrop Grumman Corporation, NASA, Lockheed Martin Corporation, Space X, and many others.
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominates the market in base year?
- Which segment and region will project fastest growth in the market?
- How COVID-19 impacted the market?
o Recovery Timeline
o Deviation from pre-COVID forecast
o Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
Global Satellite Manufacturing and Launch Market
o By Type
- Satellite
- Launch Systems
o By Application
- Military
- Government
- Commercial
- Telecommunications
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