Satellite Manufacturing Market: Trends, Opportunities and Competitive Analysis [2023-2028]

Satellite Manufacturing Market Trends and Forecast

The future of the global satellite manufacturing market looks promising with opportunities in the communication, earth observation, navigation, and space observation applications. The global satellite manufacturing market is expected to reach an estimated $18.2 billion by 2028 with a CAGR of 5.8% from 2023 to 2028. The major drivers for this market are growing percentage of programs for space exploration, rising number of satellite-based geostationary and telemetry, and growing need for satellite mission equipment to collect space-related information.

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Satellite Manufacturing Market by Segment

The study includes trends and forecast for the global satellite manufacturing market by satellite type, application, and region.

Satellite Manufacturing Market by Satellite Type [Shipment Analysis by Value from 2017 to 2028]:

• LEO (Low Earth Orbit)
• MEO (Medium Earth Orbit)
• GEO (Geostationary Earth Orbit)
• Others

Satellite Manufacturing Market by Application [Shipment Analysis by Value from 2017 to 2028]:

• Communication
• Earth Observation
• Navigation
• Space Observation
• Others

Satellite Manufacturing Market by Region [Shipment Analysis by Value from 2017 to 2028]:

• North America
• Europe
• Asia Pacific
• The Rest of the World

List of Satellite Manufacturing Companies

Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies, satellite manufacturing companies cater to increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the satellite manufacturing companies profiled in this report include:

• Airbus
• Arianespace
• Ball Corporation
• Geooptics
• L3Harris Technologies
• Lockheed Martin
• Maxar Technologies

Satellite Manufacturing Market Insights

• Lucintel forecasts that LEO is expected to witness the highest growth over the forecast period due to increasing need for satellites in low-earth orbit (LEO) to keep an eye on the space station and help it carry out space research activities.
• Communication will remain the largest segment due to the enormous demand for satellites to provide global connectivity services effortlessly.
• North America will remain the largest region due to the existence of significant space research centers, like NASA; escalating need for advanced satellite services in the civil, defense, and space industries; and the presence of key players in the region.

Features of the Global Satellite Manufacturing Market

• Market Size Estimates: Satellite manufacturing market size estimation in terms of value ($B).
• Trend and Forecast Analysis: Market trends (2017 to 2022) and forecast (2023 to 2028) by various segments and regions.
• Segmentation Analysis: Satellite manufacturing market size by various segments, such as by satellite type, application, and region in terms of value ($B).
• Regional Analysis: Satellite manufacturing market breakdown by North America, Europe, Asia Pacific, and Rest of the World.
• Growth Opportunities: Analysis of growth opportunities in different satellite type, application, and regions for the satellite manufacturing market.
• Strategic Analysis: This includes M&A, new product development, and competitive landscape of the Satellite Manufacturing Market.
• Analysis of competitive intensity of the industry based on Porter's Five Forces model.

FAQ

• Q1. What is the satellite manufacturing market size?
• Answer: The global satellite manufacturing market is expected to reach an estimated $18.2 billion by 2028.
• Q2.What is the growth forecast for satellite manufacturing market?
• Answer: The global satellite manufacturing market is expected to grow with a CAGR of 5.8% from 2023 to 2028
• Q3.What are the major drivers influencing the growth of the satellite manufacturing market?
• Answer: The major drivers for this market are growing percentage of programs for space exploration, rising number of satellite-based geostationary and telemetry, and growing need for satellite mission equipment to collect space-related information.
• Q4. What are the major segments for satellite manufacturing market?
• Answer: The future of the satellite manufacturing market looks promising with opportunities in the communication, earth observation, navigation, and space observation applications.
• Q5. Who are the key satellite manufacturing companies?
• Answer: Some of the key satellite manufacturing companies are as follows:
  • Airbus
  • Arianespace
  • Ball Corporation
  • Geooptics
  • L3Harris Technologies
  • Lockheed Martin
  • Maxar Technologies
• Q6. Which satellite manufacturing market segment will be the largest in future?
• Answer: Lucintel forecasts that LEO is expected to witness the highest growth over the forecast period due to increasing need for satellites in low-earth orbit (LEO) to keep an eye on the space station and help it carry out space research activities.
• Q7. In satellite manufacturing market, which region is expected to be the largest in next 5 years?
• Answer: North America will remain the largest region due to the existence of significant space research centers like NASA; escalating need for advanced satellite services in the civil, defense, and space industries; and the presence of key players in the region.
• Q8. Do we receive customization in this report?
• Answer: Yes, Lucintel provides 10% Customization Without any Additional Cost.

This report answers following 11 key questions:

• Q1. What are some of the most promising, high-growth opportunities for the global satellite manufacturing market by satellite type (LEO, MEO, GEO, and others), application (communication, earth observation, navigation, space observation, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
• Q.2. Which segments will grow at a faster pace and why?
• Q.3. Which region will grow at a faster pace and why?
• Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
• Q.5. What are the business risks and competitive threats in this market?
• Q.6. What are the emerging trends in this market and the reasons behind them?
• Q.7. What are some of the changing demands of customers in the market?
• Q.8. What are the new developments in the market? Which companies are leading these developments?
• Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
• Q10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
• Q11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?