Satellite Manufacturing Market Size
OREGAON, PORTLAND, UNITED STATES , August 30, 2023/EINPresswire.com/ — According to a new report published by Allied Market Research, titled, “Satellite Manufacturing Market,” The satellite manufacturing market was valued at $16.2 billion in 2021, and is estimated to reach $27.3 billion by 2031, growing at a CAGR of 5.7% from 2022 to 2031.
🔶𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐚𝐠𝐞𝐬 – https://www.alliedmarketresearch.com/request-sample/14047
Defense agencies utilize satellites to deploy spy systems for tracking and monitoring adversary and terrorist operations throughout the world. The satellite manufacturing market is divided into communication, earth observation, navigation, space observation, and others on the basis of application. The communication category generated major revenue in 2021, owing to an increase in worldwide demand for high-speed internet access and growth in telecommunication firms’ deployment of satellites to extend their reach. The expansion of the communication segment has been aided by increased demand for low-cost real-time monitoring services that enhance national security in defense, homeland security, and other industries.
Factors such as an increase in the number of space exploration missions, rise in demand for satellite aided warfare, increase in deployment of small satellites, and increase in demand for a satellite in a satellite communication system accelerate the growth of the satellite manufacturing market size. However, interference in satellite data transmission, stringent government regulations and increase in space debris hamper the growth of the market. Conversely, advancement in satellite mission technologies, an increase in demand for space data, and new application areas for satellites are expected to provide lucrative opportunities for the expansion of the growth of the market.
The use of LEO satellites has risen dramatically in recent years, owing to the satellites’ close proximity to the earth, which allows them to communicate with minimum latency. Satellites in the LEO constellation are excellent for time-sensitive applications such as voice transmission. In addition, since the distance between the earth and the satellite is shorter, the satellite-to-earth communication links suffer less route loss, allowing for a more stable link to be formed with less power and/or antenna size. As a result, LEO satellites are often smaller, lighter, and less expensive than their GEO counterparts, attracting satellite manufacturers to construct LEO satellites.
🔶𝐏𝐫𝐨𝐜𝐮𝐫𝐞 𝐂𝐨𝐦𝐩𝐥𝐞𝐭𝐞 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭 𝐍𝐨𝐰 – https://www.alliedmarketresearch.com/satellite-manufacturing-market/purchase-options
➤𝐋𝐢𝐬𝐭 𝐎𝐟 𝐊𝐞𝐲 𝐏𝐥𝐚𝐲𝐞𝐫𝐬:-
𝐀𝐢𝐫𝐛𝐮𝐬,
𝐀𝐫𝐢𝐚𝐧𝐞𝐬𝐩𝐚𝐜𝐞,
𝐁𝐚𝐥𝐥 𝐂𝐨𝐫𝐩𝐨𝐫𝐚𝐭𝐢𝐨𝐧,
𝐆𝐞𝐨𝐨𝐩𝐭𝐢𝐜𝐬, 𝐈𝐧𝐜.,
𝐋𝟑𝐇𝐚𝐫𝐫𝐢𝐬 𝐓𝐞𝐜𝐡𝐧𝐨𝐥𝐨𝐠𝐢𝐞𝐬, 𝐈𝐧𝐜.,
𝐋𝐨𝐜𝐤𝐡𝐞𝐞𝐝 𝐌𝐚𝐫𝐭𝐢𝐧 𝐂𝐨𝐫𝐩𝐨𝐫𝐚𝐭𝐢𝐨𝐧,
𝐌𝐚𝐱𝐚𝐫 𝐓𝐞𝐜𝐡𝐧𝐨𝐥𝐨𝐠𝐢𝐞𝐬,
𝐌𝐢𝐭𝐬𝐮𝐛𝐢𝐬𝐡𝐢 𝐄𝐥𝐞𝐜𝐭𝐫𝐢𝐜 𝐂𝐨𝐫𝐩𝐨𝐫𝐚𝐭𝐢𝐨𝐧,
𝐍𝐨𝐫𝐭𝐡𝐫𝐨𝐩 𝐆𝐫𝐮𝐦𝐦𝐚𝐧 𝐂𝐨𝐫𝐩𝐨𝐫𝐚𝐭𝐢𝐨𝐧,
𝐑𝐚𝐲𝐭𝐡𝐞𝐨𝐧 𝐓𝐞𝐜𝐡𝐧𝐨𝐥𝐨𝐠𝐢𝐞𝐬 𝐂𝐨𝐫𝐩𝐨𝐫𝐚𝐭𝐢𝐨𝐧,
𝐒𝐢𝐞𝐫𝐫𝐚 𝐍𝐞𝐯𝐚𝐝𝐚 𝐂𝐨𝐫𝐩𝐨𝐫𝐚𝐭𝐢𝐨𝐧,
𝐒𝐩𝐚𝐜𝐞𝐗,
𝐓𝐡𝐚𝐥𝐞𝐬 𝐆𝐫𝐨𝐮𝐩,
𝐓𝐡𝐞 𝐁𝐨𝐞𝐢𝐧𝐠 𝐂𝐨𝐦𝐩𝐚𝐧𝐲,
𝐕𝐢𝐚𝐬𝐚𝐭, 𝐈𝐧𝐜.
Satellites are used for various applications such as broadcasting, navigation, weather forecasting, and others. The rise in the adoption of artificial intelligence (AI), machine learning (ML), and cloud computing in the space sector for commercial satellite imaging and earth observation is expected to drive the growth of the market. In addition, the increasing use of satellite data in smart cities and connected car development is expected to drive the demand for commercial satellite imagery which requires satellites. An increase in the use of aerial images and AI in satellite imaging to observe and measure events like topmost tree thinning, and loss of undergrowth native vegetation is expected to drive the growth of the market.
Moreover, in 2020, the first Earth observation satellite equipped with artificial intelligence was deployed by the European Space Agency (ESA). Microsatellites and nanosatellites are often designed for communication, commercial, and space research. There is an increase in the demand for satellites in recent years, due to their lightweight characteristics, shorter development cycles, high capability of executing complex computing activities, and cheaper development and launch costs. The increased focus of satellite manufacturers toward the development of compact satellites owing to the decreased cost and development time is the key driving factor propelling the growth of the satellite manufacturing market during the forecast period
🔶𝐈𝐧𝐭𝐞𝐫𝐞𝐬𝐭𝐞𝐝 𝐭𝐨 𝐏𝐫𝐨𝐜𝐮𝐫𝐞 𝐭𝐡𝐞 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭? 𝐈𝐧𝐪𝐮𝐢𝐫𝐞 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠 – https://www.alliedmarketresearch.com/purchase-enquiry/14047
By satellite type, the satellite manufacturing market has been segmented into LEO, MEO, GEO, and others. In 2021, the LEO segment dominated the satellite type segment, owing to rise in the adoption of LEO satellites by commercial and government space organizations for several applications such as urban planning, border mapping, infrastructure security, and homeland security.
David Correa
Allied Analytics LLP
1 800-792-5285
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