The “Satellite Manufacturing and Launch Market by Application, Product and Geography – Forecast and Analysis 2022-2026” report has been added to Technavio’s offering. According to Technavio, the market will observe an incremental growth of USD 3.91 billion, accelerating at a CAGR of 3.4% during the forecast period. To estimate the size of the report, the analysts at Technavio have considered various factors including the volume of air passengers and freight traffic, revenue generated by aerospace and defense companies, defense budgets, GDP growth, capital investments by airlines, and crude oil price fluctuation among others. Discover market potential and make informed business decisions based on qualitative and quantitative evidence highlighted exclusively in this market study.
The market is driven by the reduction in associative launch cost. Several companies that offer launch services for satellites are investing in R&D to develop cost-effective launch systems. Also, the highly competitive nature of the satellite industry is resulting in a decrease in the cost of launching satellites. For instance, before the release of the Ariane 6 rocket in 2020, Arianespace, which is a part of ArianeGroup, has decided to decrease its satellite launch fee by 40% to compete with SpaceX. The decision was a strategic move as the company was contending for two major launch contracts in APAC, which were scheduled for release in 2019. Besides, the advent of reusable satellite launch vehicles such as the Falcon 9, which is offered by SpaceX, is also decreasing the total cost of satellite launches. As a result of these factors, the size of the global satellite manufacturing and launch market is expected to increase over the forecast period. yahoo! news