What Does the Historical and Current Satellite Manufacturing And Launch Systems Market Size Trend Indicate?
The satellite manufacturing and launch systems market has seen considerable growth due to a variety of factors.
• The market size for satellite manufacturing and launch systems has seen robust growth in the past years. The market, which was worth $27.25 billion in 2024 is projected to expand to $29.84 billion in 2025, boasting a compound annual growth rate (CAGR) of 9.5%.
The historical growth of this market has been driven by factors including space exploration initiatives and the deployment of satellites, applications in defense and national security, the provision of commercial satellite communication services, rising demand for earth observation satellites, plus global positioning and navigation systems.
How Will the Satellite Manufacturing And Launch Systems Market Size Evolve over the Forecast Period?
The satellite manufacturing and launch systems market is expected to maintain its strong growth trajectory in upcoming years.
• The market size of satellite manufacturing and launch systems is predicted to experience significant expansion in the upcoming years, escalating to $42.11 billion in 2029 with a compound annual growth rate (CAGR) of 9.0%.
This expected growth during the projection period is due to factors such as the manufacturing of small satellites and constellations, mega-constellations facilitating global connectivity, quick satellite deployment and replacement, initiatives towards space debris mitigation and sustainability, space mining and exploration of resources, and developments in satellite power and propulsion systems. Key trends anticipated during the forecast period include 3D-printed components of satellites, advancements in cubesat and nano-satellite technologies, capabilities for on-orbit servicing and refueling, adoption of AI for autonomous operations of satellites, satellite-as-a-service (saas) business models, and the implementation of reusable launch systems for satellites.
Which Factors Are Boosting Growth In The Satellite Manufacturing And Launch Systems Market?
The surge in satellite requirements from civil/government, commercial, and military domains significantly fuels the expansion of the satellite manufacturing and launch industry. Satellite technologies are being widely utilized by worldwide military forces to bolster their defensive capabilities. Many tests and experiments have been conducted by governmental agencies and defense units globally to establish space offensive facilities. Different forms of space warfare include ground-to-space wars, like satellite assaults from earth, space-to-space wars, such as satellite-on-satellite conflicts, and space-to-earth wars, where satellites target terrestrial entities. In June 2024, as reported by SpaceNews, a non-profit organization based in the U.S, 85% of the satellites procured commercially in 2023 were crafted by U.S. manufacturers, and the satellite manufacturing revenue escalated by 9%, reaching $17.2 billion. This growth was propelled by flexible software-defined payloads and advanced compact satellites. An unprecedented 190 commercially procured space launches took place, marking an 18% rise compared to 2022. A total of 2,781 commercial satellites were launched during these missions, a 20% annual increase, primarily driven by SpaceX. Thus, the mounting satellite demand from civil/government, commercial, and military sectors is projected to stimulate the growth of the satellite manufacturing and launch sector.
What Key Areas Define The Segmentation Of The Global Satellite Manufacturing And Launch Systems Market?
The satellite manufacturing and launch systems market covered in this report is segmented –
1) By Technology Type: Satellite Manufacturing, Satellite Launch System
2) By Satellite Type: Lower Earth Orbit (LEO) Satellites, Medium Earth Orbit (MEO) Satellites, Geosynchronous Equatorial Orbit (GEO) Satellites, Beyond GEO Satellites
3) By Application: Commercial Communications, Government Communications, Earth Observation Services, Research and Development, Navigation, Military Surveillance, Scientific Applications, Other Applications
4) By End-User: Military and Government, Commercial, Other End-Users
Subsegments:
1) By Satellite Manufacturing: Small Satellites, Medium Satellites, Large Satellites, Satellite Components
2) By Satellite Launch System: Expendable Launch Vehicles (ELVs), Reusable Launch Vehicles (RLVs), Hybrid Launch Vehicles
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How Are Emerging Trends Reshaping The Dynamics Of The Satellite Manufacturing And Launch Systems Market?
The adoption of 3D technology in production processes is a dominant trend emerging in the satellite manufacturing and launch systems market. 3D printing enables the production of a final item directly from computer-aided drafting (CAD) design. Often referred to as additive manufacturing, this technology is being applied by the satellite industry to cut costs, speed up production, and enhance performance. It's employed in the creation and manufacturing of a variety of satellite components, including radiofrequency components and antennas. An example of this is Fleet Space, an Australian company which, in January 2022, produced the fully 3D printed satellite, Alpha, set for launch in the subsequent 12 months. This marked a significant progression and was the first instance of a satellite being completely 3D printed. This adoption of technology for the manufacturing, deployment, and servicing of space technology places Fleet Space at the forefront of the space tech industry, backing Australia's aspirations to pioneer in this vital sector.
Who Are the Key Players in the Satellite Manufacturing And Launch Systems Market?
Major companies operating in the satellite manufacturing and launch systems market include:
• Northrop Grumman Corporation
• ArianeGroup
• Space Exploration Technologies Corp.
• Blue Origin LLC
• Lockheed Martin Corporation
• The Boeing Company
• Sierra Nevada Corporation
• Thales Group
• Maxar Technologies Inc.
• Dynetics Inc.
• NanoAvionics UAB
• Israel Aerospace Industries Ltd.
• OHB SE
• Airbus SE
• China Aerospace Science and Technology Corporation
• Mitsubishi Heavy Industries Ltd.
• SpaceQuest Ltd
• GomSpace Group AB
• Planet Labs Inc.
• United Launch Alliance LLC
• Rocket Lab USA Inc.
• GeoOptics Inc.
• Honeywell International Inc.
• BAE Systems plc
• Safran S.A.
• Parker Hannifin Corporation
• Cobham plc.
• Kratos Defense & Security Solutions Inc.
What Is The Most Dominant Region In The Satellite Manufacturing And Launch Systems Market?
North America was the largest region in the satellite manufacturing and launch systems market in 2024. The Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the satellite manufacturing and launch systems market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
