Satellite Manufacturing and Launch Systems Market Trends and Forecast 2022-2031

The Satellite Manufacturing and Launch Systems Market was valued at about USD 17.99 billion in 2020 and is projected to grow to USD 23.09 billion in 2026 with a CAGR of 3.76% during the forecast period (2021-2026).

The COVID-19 pandemic has forced several launch postponements, supply chain disruptions, workforce scarcities, and vaporization of revenue streams of several startups and smaller players in the market.

There is an increased demand for satellites from the civil/government, commercial, and military sectors in recent years. Currently, countries like the United States, Russia, China, India, Japan, and a few European countries have adequate capabilities in the area of satellite manufacturing. However, along with the growing shift towards the manufacturing of affordable and less sophisticated small satellites, it is expected that the manufacturing base of satellites is widening to several other countries around the world.

Regions like North America and Europe have traditionally developed and launched most satellites in orbit. However, the growth in demand for satellite-based infrastructure in emerging countries like China and India is currently contributing to the development of the market in the Asia Pacific.

The market is witnessing the entry of private players who are spending huge amounts on research and development to exploit the new opportunities in the satellite manufacturing and launch industry.

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Key Market Trends

The Military and Government Segment Recorded the Highest Market Share in 2020

Currently, the military and government segment has the highest revenue share in the market. Armed forces across the world have been strengthening their satellite networks to perform more efficient intelligence, surveillance and reconnaissance (ISR) missions that essentially need secure and robust communication channels, accessible from anywhere by the forces. More data bandwidth and reliable communication infrastructure are being demanded by the armed forces to meet the growing requirements for large-scale data transfer. The development of tactical communication systems, tactical data links, modern network-centric battle force capabilities, and advanced SATCOMs are the significant applications of military communication satellites. Improved use of SATCOM may simplify the integration of C4ISR, thus, enabling the better use of UAVs and more advanced administrative, support, and personal welfare services. In this regard, several countries are emphasizing launching communications satellites for better data transfer capabilities.

For instance, in July 2020, South Korea launched its first-ever dedicated military communications satellite through the private operator SpaceX. On the other hand, the launches of satellites, especially smaller ones, are being done on a large scale by universities, colleges, and even high school students. With governments and various foundations currently funding the research in the civil satellites, a constant growth of this segment is expected during the forecast period. As part of NASA’s CubeSat Launch Initiative, which provides opportunities for small satellite payloads built by universities, high schools and non-profit organizations to fly on upcoming launches, NASA provides these CubeSat developers a low-cost pathway to conduct scientific investigations and technology demonstrations in space, thus enabling students, teachers and faculty to obtain hands-on flight hardware development experience. As of April 2021, NASA has selected more than 200 CubeSat missions as part of the initiative. Such developments are expected to propel the growth of the segment during the forecast period.

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