Satellite Manufacturing and Launch System Market Overview, Key Players Analysis, Opportunities, Comprehensive Research Study, Competitive Landscape and Forecast to 2027

The global satellite manufacturing and launch system market size is expected to reach USD 54.17 billion in 2027, exhibiting a CAGR of 12.45% during the forecast period, states Fortune Business Insights, in a report, titled “Satellite Manufacturing and Launch System Market Size, Share & Industry Analysis, By Type (Satellite Manufacturing and Satellite Launch Systems), By Application (Communication Satellite, Military Surveillance, Navigation Satellite, Earth Observation Satellite, and Others), By End-Use (Commercial and Military), and Regional Forecast, 2020-2027.” The market size stood at USD 23.83 billion in 2020.

The Report Lists the key Players in the Satellite Manufacturing and Launch System Market:

Airbus S.A.S (The Netherlands)
Arianespace (France)
Boeing (The U.S.)
GeoOptics (Canada)
ISISPACE GROUP (The Netherlands)
JSC Academician M.F. Reshetnev (Russia)
Lockheed Martin Corporation (The U.S.)
Maxar Technologies (The U.S.)
SpaceX (The U.S.)
ViaSat Inc. (The U.S.)
Market Overview:

Heavy Investments in Space Missions to Bolster Growth

The surging investment by government and space agencies in developing technologically advanced satellite launch vehicles is expected to foster healthy growth of the satellite manufacturing and launch system industry. According to the Department of Defense (DOD), the USD 14.1 billion was requested for National Security Space (NSS) in 2020 compared to the USD 12.3 billion in 2019. Out of the total amount, USD 8.4 billion, USD 2.6 billion, and USD 3.0 billion are allocated for the research, development, test, evaluation (RDT&E), procurement, and operation & maintenance. Furthermore, the increasing collaboration and agreement between space companies and government organizations to develop innovative SLVs will foster the satellite manufacturing and launch system market growth. For instance, SpaceX collaborated with NASA to design and develop reusable satellite launch vehicles to minimize the overall program cost and space debris around the earth's orbit. Similarly, Europe Space Agency (ESA) increased its focus on Ariane 6, an expendable launch system, thus boosting the satellite manufacturing and launch system production.

Information Source -

https://www.fortunebusinessinsights.com/satellite-manufacturing-and-launch-systems-market-103549

Regional Analysis:

Government Support for Reusable Launch Systems to Promote Growth in North America

The satellite manufacturing and launch system market in North America is expected to exhibit a rapid growth rate during the forecast period due to the high investments by the U.S. government and space agencies in manufacturing reusable launch systems. For instance, in September 2019, NASA awarded a contract worth USD 4,600 million to Lockheed Martin Corporation to supply six reusable Orion crew capsules integrated with lightweight 3D printed modules. Asia Pacific is expected to hold the largest share during the forecast period. The growth is attributed to growing satellite launch infrastructure and satellite launch programs from China, India, and Australia. For instance, in November 2020, the Indian Space Research Organization (ISRO) successfully launched 10 satellites consisting of earth observation satellites and payload