What is Spacecraft?
Spacecraft is mainly designed to fly in outer space. It is mechanical machine or vehicle especially used in space for variety of purpose. It is mainly used for communications, navigation, earth observation, meteorology, space colonization, and cargo transportation. It is designed to operate with or without crew. It is controlled flight pattern above earth’s lower atmosphere. Rising government spending on space research program in emerging countries has created growth opportunities for market.
The market study is broken down by Type (Flyby Spacecraft, Orbiter Spacecraft, Atmospheric Spacecraft, Communications & Navigation Spacecraft and Other), by Application (Commercial and Military & Defence) and major geographies with country level break-up.
The market of spacecraft is expected to grow with rising space research. Several companies are operating in the market to provide spacecraft with excellent quality. The market is highly fragmented with the presence of number of market players. They are gaining attention owing to raised demand. They are taking certain strategic initiatives with new entrants to expand their existing portfolio. Established and emerging Manufacturers should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Lockheed Martin Corporation (United States), The Boeing Company (United States), Airbus SE (Netherland), Sierra Nevada Corporation (United States), Berlin Space Technologies GmbH (Germany), IHI Corporation (Japan), OHB System AG (Germany), Millennium Space Systems (United States) and Thales Alenia Space (France) are some of the key players that are part of study coverage.
Segmentation Overview
AdvanceMarketAnalytics has segmented the market of Global Spacecraft market by Type, Application and Region.
On the basis of geography, the market of Spacecraft has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Category, the sub-segment i.e. Manned will boost the Spacecraft market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
In April 2021, SpaceX has launched a new batch of 60 Starlink satellites. This satellite is launched mainly as part of company’s mission of launching 1,500 starlink satellite in 2021. Thus, this launch has increased the number of launched satellite.
Market Trend
- Rising Preference for Remote Monitoring & Navigation Satellite
Market Drivers
- Growing Space Exploration Program
- Increasing Government Funding’s for Space R&D
Opportunities
- Technological Advancement with AI has Created Ample Growth Opportunities
Restraints
- Requirement of Large Investment for Manufacturing Setup
Challenges
- Concern Regarding Space Pollution
Key Target Audience
Spacecraft Manufacturers, Spacecraft Suppliers/Distributor, Raw Material Suppliers, New Entrants/Investors, Research Laboratory, Strategic Business Planners, Governments and End Use Industry
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have the better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with purpose to understand companys positioning regarding market value, volume and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders etc. and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, analyst team keeps preparing set of questionnaires and after getting appointee list; the target audience are then tapped and segregated with various mediums and channels that are feasible for making connection that includes email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey etc.