PUBLISHER: 360iResearch | PRODUCT CODE: 1499567
PUBLISHER: 360iResearch | PRODUCT CODE: 1499567
[191 Pages Report] The On-Orbit Satellite Servicing Market size was estimated at USD 3.20 billion in 2023 and expected to reach USD 3.51 billion in 2024, at a CAGR 10.15% to reach USD 6.30 billion by 2030.
On-orbit satellite servicing is an emerging field in space technology, encompassing a broad range of activities aimed at enhancing operational efficiency and extending the lifespan of satellites while they are in orbit. This innovative approach to satellite maintenance represents a paradigm shift from traditional methods, which involve decommissioning out-of-service satellites and launching new ones as replacements. On-orbit satellite servicing offers various benefits, including cost reductions, improved reliability, enhanced satellite capabilities, and decreased space debris generation. The global on-orbit satellite servicing market consists of commercial, government, and military entities that develop technologies and services to inspect, repair, refuel, or upgrade satellites in space. Increasing demand for satellite-based services across various sectors and advancements in autonomous robotic technologies enabling rendezvous and docking with satellites in space are raising the demand for on-orbit satellite services. Regulatory initiatives and public-private partnerships have created a favorable environment for startups and established companies to explore innovative on-orbit servicing solutions. However, high development costs associated with advanced technologies may hinder the commercial viability of these services. Additionally, regulatory complexities concerning space debris mitigation, orbital safety management, and satellite ownership rights pose significant challenges to deploying on-orbit servicing systems. Besides the challenging factors, market vendors are focusing on reducing mission costs by developing reusable service platforms or leveraging in-situ resources such as space-based solar power or asteroid mining-derived propellants. Improving autonomous robotic technologies capable of sophisticated manipulation tasks and rising government space expenditure are expected to propel opportunities for the global on-orbit satellite servicing market.
KEY MARKET STATISTICS | |
---|---|
Base Year [2023] | USD 3.20 billion |
Estimated Year [2024] | USD 3.51 billion |
Forecast Year [2030] | USD 6.30 billion |
CAGR (%) | 10.15% |
Regional Insights
In the Americas, the United States is at the forefront of on-orbit satellite servicing research and development activities and commercialization efforts. In 2020, Northrop Grumman's Mission Extension Vehicle-1 (MEV-1) successfully demonstrated its ability to extend the life of a communication satellite by attaching itself and taking control of orbit maintenance functions. This groundbreaking achievement by an American company has spurred further growth in on-orbit servicing technologies. In recent years, EMEA has witnessed consistent growth in its space sector with increased adoption of satellite-based applications across various industries such as agriculture, maritime surveillance, environmental monitoring, and disaster management. To accommodate this burgeoning demand for satellites and their services within EMEA, countries are investing heavily in homegrown capabilities designed to service existing satellites while extending their operational lifespan. Moreover, the European Space Agency (ESA) is pivotal in driving the market forward by funding and collaborating on ambitious space projects. Countries such as China, India, and Japan have emerged as major participants in on-orbit satellite servicing activities within the APAC region. The robust economic growth in these countries, combined with their increased dependence on satellite-based applications for various industrial and civilian purposes, has resulted in heightened growth within the APAC region's on-orbit satellite servicing market.
Market Insights
The market dynamics represent an ever-changing landscape of the On-Orbit Satellite Servicing Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.
FPNV Positioning Matrix
The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the On-Orbit Satellite Servicing Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).
Market Share Analysis
The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the On-Orbit Satellite Servicing Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.
Recent Developments
U.S. Space Force and Astroscale to co-invest in a refueling satellite
Astroscale Holdings Inc. has entered into an agreement with the U.S. Space Force to invest in an on-orbit refueling vehicle jointly. This collaboration involves USD 25.5 million in government funding and an additional USD 12 million provided by Astroscale. The funding for Astroscale's OTA contract was secured through a congressional earmark, which was added to the Space Force's 2023 budget. The primary objective of this project is to leverage commercial advancements in space services while promoting healthy competition. [Published On: 2023-09-25]
Italy awards $256 million contract for 2026 in-orbit servicing mission
Thales Alenia Space, a joint venture between Thales of France and Leonardo of Italy, has been granted USD 254 million (€235 million) in pandemic relief funds for an in-orbit servicing demonstration mission scheduled for completion in 2026. The spacecraft will be equipped with a versatile robotic arm capable of performing various operations, such as refueling, component repair or replacement, orbital transfer, and atmospheric reentry. [Published On: 2023-05-15]
Lockheed Martin declares success demonstrating tech for in-orbit satellite servicing
Lockheed Martin Corporation's In-space Upgrade Satellite System (Linuss) experiment successfully demonstrated autonomy and AI algorithms required for in-orbit servicing operations while navigating within 400 meters of each other. The company has plans to develop in-orbit servicing vehicles capable of docking with cooperative or uncooperative satellites. These vehicles will perform upgrades and servicing tasks such as refueling, software updates, and extending the life of satellites. [Published On: 2023-04-17]
Strategy Analysis & Recommendation
The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the On-Orbit Satellite Servicing Market. This critical assessment involves a thorough analysis of the organization's resources, capabilities, and overall performance to identify its core strengths and areas for improvement.
Key Company Profiles
The report delves into recent significant developments in the On-Orbit Satellite Servicing Market, highlighting leading vendors and their innovative profiles. These include Airbus SE, Altius Space Machines, Inc., Astroscale Holdings Inc., ClearSpace, D-Orbit SpA, Digantara, Lockheed Martin Corporation, Maxar Technologies Holdings Inc., Momentus Inc., Northrop Grumman Corporation, Obruta Space Solutions Corp., Orbit Fab, Inc., OrbitGuardians, Share My Space, Thales, and Voyager Space Holdings, Inc..
Market Segmentation & Coverage