The “Commercial Satellite Launch Service Market Outlook 2020: Global Opportunity and Demand Analysis, Market Forecast, 2019-2028” report has been added to ResearchAndMarkets.com’s offering.
The global commercial satellite launch service market is expected to grow at a CAGR of 8.3% during the forecast period.
Need for communication networks and data bandwidth
The commercial use of satellites for applications such as GPS and the internet is a significant factor driving the commercial satellite launch services market in recent years. The increasing demand for satellite-based telemetry applications is further fueling the growth of this market. The need for communication networks across the world, coupled with data bandwidth and demand for unmanned aerial vehicles (UAVs) has further propelled commercial satellite launches. Growth in several emerging economies has resulted in a considerable increase in the number of television subscribers. Satellite broadband is also witnessing rapid growth in the subscriber base, especially in developed countries. Thus, these factors are expected to drive the market.
Small satellite segment to make crucial contribution to growth of the market
The commercial satellite launch service market could be segmented into Large, Medium, Small, Micro on the basis of size. The small segment is expected to further contribute to the market owing to the compatibility to launch small satellites and their minimalistic effects. On the basis of orbit, the market is segmented into LEO, MEO, GEO, HEO. On the basis of application, the market is segmented into Reconnaissance, Weather Forecasting, Remote Sensing, Navigational, Communication. The navigational and communication segments are expected to anticipate market growth in the forecast period.
Rising collaborations to benefit north america market
North American countries such as the US are predicted to maximize their time over the improvement of the technologies in the future. This could prepare a strong foundation for the developed region to secure a leading position in the global Commercial Satellite Launch Service market. There are various research centers backed up by government funding that are forming a consortium to increase their pace of development. The Asia Pacific region is anticipated to gain the highest CAGR in the forecast period, owing to the increased range of startups is acquiring investments to accelerate their R&D and manufacturing capabilities.
Players to focus on commercial satellite launch service market
The global market is expected to stay fragmented with the increase in the number of new entrants in the coming years. Arianespace, GK launch Service, Lockheed Martin, Indian Space Research Organization (ISRO), National Aeronautics and Space Administration (NASA), COSMOS International Launch Services GmbH, S7 Space, The Boeing Company, Northrop Grumman Corporation, Space Exploration Technologies Corp., Eurockot Launch Services Gmbh, Mitsubishi Heavy Industries, Ltd., and blue Origin among others could be at the forefront of the competition in the global market. Business Wire