PUBLISHER: Allied Market Research | PRODUCT CODE: 1472400
PUBLISHER: Allied Market Research | PRODUCT CODE: 1472400
The global on-orbit satellite servicing market was valued at $3.4 billion in 2022, and is projected to reach $9.0 billion by 2032, registering a CAGR of 10.59% from 2023 to 2032.
The emerging field in space technology is called on-orbit satellite servicing, which includes a wide range of tasks meant to increase operational effectiveness and prolong the life of satellites in orbit. Compared to conventional techniques, which entail retiring out-of-service satellites and launching new ones in their place, this creative approach to satellite management constitutes a paradigm change.
There are many advantages to on-orbit satellite service, such as lower costs, more dependability, better satellite capabilities, and less space debris production. Commercial, governmental, and military organizations that create products and services to maintain, repair, refuel, or modernize satellites in orbit make up the worldwide market for on-orbit satellite servicing. The need for on-orbit satellite services is rising due to the growing demand for satellite-based services across a variety of industries and developments in autonomous robotic technologies that allow satellites to connect with each other and communicate in space.
Innovative on-orbit service solutions can now be explored by established enterprises and startups alike because of regulatory actions and public-private partnerships. However, the significant development expenses of cutting-edge technologies could make these services less profitable. Deploying on-orbit servicing systems is further complicated by legislative issues related to space debris reduction, orbital safety management, and satellite ownership rights.
Several factors such as the growing need for more affordable and efficient satellite services are driving the market for on-orbit satellite servicing. However, the markets total growth is being constrained by the possibility that on-orbit satellite services would become ineffective owing to the rapid advancements in satellite technology.
In addition, by enabling deorbiting, or the removal of obsolete satellites from orbit, on-orbit servicing is essential to sustainable space activities. Collaborative satellite operations facilitate the cooperation of several satellites on complex tasks, whereas spacecraft tugs enable the towing or repositioning of satellites. The ability to increase the operational lifetime of commercial satellites and keep them in operation longer, enabling them to continue producing income and provide useful services, is the main benefit of commercial on-orbit satellite servicing. Additionally, it can allow operators to update and adapt their current satellites to meet market demands and technical improvements, hence reducing the need for expensive and risky satellite replacements.
In the space industry, the global market for on-orbit satellite servicing offers excellent opportunities for enhancing satellite performance, lowering space trash, and fostering long-term sustainability. As technology develops, this sector is anticipated to have a significant influence on how satellite operations and maintenance are carried out in the future. With the advancement of sophisticated spaceship technology, robotics, and artificial intelligence, on-orbit service capabilities have changed.
With the growing number of satellites in orbit, there was an increased focus on sustainability and space debris mitigation measures. Satellite operators and regulatory bodies were exploring ways to minimize space debris through responsible satellite design, end-of-life disposal strategies, and active debris removal technologies. The market for on-orbit satellite services was marked by fierce competition between ground segment firms, launch service providers, and satellite operators.
Moreover, these trends were shaping the landscape of the on-orbit satellite service market, driving technological innovation, market competition, and strategic partnerships across various sectors and geographies. However, it's essential to note that the satellite industry is dynamic and subject to rapid changes influenced by technological advancements, market demand shifts, regulatory developments, and geopolitical factors.
For instance, in September 2022, Thales Alenia Space and its partners have been chosen by the European Commission to lead EROSS IOD, a program dedicated to On-Orbit Servicing.
The on-orbit satellite servicing market is segmented into type, orbit type, end-user, and region. On the basis of type, the market is bifurcated into active debris removal (ADR) and orbit adjustment, robotic servicing, refueling, and assembly. On the basis of orbit type, the market is divided into LEO (low earth orbit), MEO (medium earth orbit), and GEO (geostationary earth orbit). As per end-user, the market is classified into commercial, government and military.
Region wise, the on-orbit satellite servicing market trends are analyzed across North America (U.S., Canada, and Mexico), Europe (UK, Germany, France, Russia, Italy, Spain and rest of Europe), Asia-Pacific (China, India, Japan, Australia, South Korea, and rest of Asia-Pacific), Latin America (Brazil, Argentina and Rest of Latin America) and Middle East and Africa (Saudi Arabia, UAE, South Africa, Rest of Middle East and Africa).
Competitive analysis and profiles of the major global on-orbit satellite servicing market players that have been provided in the report include Maxar Technologies; Astroscales Holdings Inc.; Thales Alenia Space; Airbus SE; Altius Space Machines; Tethers Unlimited; Orbit Fab, Inc.; Momentus Space; Nanoracks (Voyager Space); and Space Logistics LLC. The key strategies adopted by the major players of the global market are product launch, mergers, and acquisitions.
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