Global Advanced Satellite Market Overview:
The advanced satellite is envisaged to provide a platform for stand-alone payloads for earth imaging and science missions within a quick turnaround time. Growing demand for low-cost, miniaturized satellites and increasing demand for Earth observation applications are major driving factors and propelling the growth of the global advanced satellite market. Global armed forces are keenly focusing on enhancing their existing communications framework to obtain a tactical advantage over their adversaries, this has led to significant growth of the global advanced satellite market in the forecast period.
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Forecast Period | 2023-2028 |
Historical Period | 2018-2022 |
Unit | Value (USD Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
Influencing Trend:
Rising Adoption of Cutting Edge Technology like Artificial Intelligence (AI), and Machine Learning
Market Growth Drivers:
Rising Demand for Earth Observation Imagery and Analytics, Increase in the Number of Space Exploration Missions and Growing Demand for LEO-based Services
Challenges:
Raising Capital and Funding for Satellite Manufacturing and Launch
Restraints:
Strict Government Rules and Regulations
Opportunities:
Growing Developments of Satellite Networks to Provide Internet Access in Areas Without Broadband Connectivity and Increased Government Investments in Space Technology
Competitive Landscape:
Advanced Satellite market companies operating in these industries are focusing more on efficient growth, improvement of operational efficiency and productivity, achieving high safety standards, and focusing on maintaining sustainable development. The market is highly competitive with a few players occupying the major share. The key players are highly focused on developing and innovating new strategies to maintain their market position and customer base. The companies are coming up with partnerships or agreements along with planning strategic activities such as partnerships, product launches, mergers, and acquisitions which will help them to sustain in the market and maintain their competitive edge.
Some of the key players profiled in the report are Sierra Nevada Corporation (United States), L3 Harris Technologies (United States), Lockheed Martin Corporation (United States), Northrop Grumman Corporation (United States), Airbus Defense and Space (Netherlands), Planet Labs, Inc. (United States), Thales Group (France), Millennium Space Systems (United States), Space Exploration Technologies (United States) and Surrey Satellite Technology (United Kingdom). Additionally, following companies can also be profiled that are part of our coverage like Harris Corporation (United States), GeoOptics (United States), Spire Global, Inc. (United States), ST Engineering Limited (Singapore) and SpaceQuest, Ltd. (United States). Considering Market by End Use, the sub-segment i.e. Civil will boost the Advanced Satellite market.
Latest Market Insights:
In May 2020, Sierra Nevada Corporation (SNC) SNC’s Dream Chaser spacecraft, known as “America’s Spaceplane™,” which is the world’s only non-capsule, commercial spacecraft capable of a runway landing, received a NASA contract to perform cargo delivery and disposal services from the International Space Station.
In February 2020, Surrey Satellite Technology received a contract from the UK Space Agency, which confirmed it would invest USD 419 million per year with ESA for the implementation phase of its Lunar data-relay spacecraft, Lunar Pathfinder.
What Can be Explored with the Advanced Satellite Market Study
Gain Market Understanding
Identify Growth Opportunities
Analyze and Measure the Global Advanced Satellite Market by Identifying Investment across various Industry Verticals
Understand the Trends that will drive Future Changes in Advanced Satellite
Understand the Competitive Scenario
- Track Right Markets
- Identify the Right Verticals
Research Methodology:
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Advanced Satellite market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Advanced Satellite market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes Advanced Satellite Manufacturers, Research Organizations and Consulting Companies, Potential Technology Investors, Regulatory & Government Bodies, Downstream Vendors, End Users and Others.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.