Global On-Orbit Satellite Servicing Market Size To Worth USD 6.14 Billion By 2032 | CAGR of 10.7%
Category: Aerospace & DefenseGlobal On-Orbit Satellite Servicing Market Size To Worth USD 6.14 Billion By 2032.
According to a research report published by Spherical Insights & Consulting, the Global On-Orbit Satellite Servicing Market Size is to grow from USD 2.21 Billion in 2022 to USD 6.14 Billion by 2032, at a Compound Annual Growth Rate (CAGR) of 10.7% during the projected period. Various value chain levels for vendors, increased use of dedicated satellite servicing mission extension vehicles, and other factors are driving the market.
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Browse key industry insights spread across 200 pages with 140 market data tables and figures & charts from the report on "Global On-Orbit Satellite Servicing Market Size, Share, and COVID-19 Impact Analysis, By Type (Small Satellites, Medium Satellites, and Large Satellites), By Service (Active Debris Removal (ADR) and Orbit Adjustment, Robotic Servicing, Refueling, Assembly), By End User (Military & Government, Commercial), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2022 – 2032)." Get Detailed Report Description Here: https://www.sphericalinsights.com/reports/on-orbit-satellite-servicing-market
The worldwide on-orbit satellite servicing market is an expanding portion of the space industry that focuses on providing maintenance, repair, refueling, and other critical services to satellites in space. As the number of satellites in orbit increases, so does the demand for efficient and cost-effective solutions to address technical issues, extend satellite lifespan, and ensure optimal performance. The global on-orbit satellite servicing market offers exciting opportunities for improving satellite performance, reducing space debris, and promoting long-term sustainability in the rapidly evolving space industry. This industry is expected to play an important role in shaping the future of satellite operations and maintenance as technology advances. On-orbit servicing capabilities have evolved with the development of advanced robotics, artificial intelligence, and sophisticated spaceship technology. By delivering on-orbit repairs, upgrades, payload swaps, and even satellite relocation, companies in this market aim to improve operating efficiency and lifespan. However, legal framework uncertainty, as well as liability issues, might hinder the development and implementation of on-orbit servicing missions.
The small satellites segment is expected to grow at the fastest pace in the global on-orbit satellite servicing market during the forecast period.
The global on-orbit satellite servicing market is divided into three types: small satellites, medium satellites, and large satellites. Among these, the small satellites segment is projected to expand at the fastest rate in the global on-orbit satellite servicing market throughout the forecast period. Small satellites were gaining popularity owing to their adaptability and low cost.
The active debris removal (ADR) and orbit adjustment segment is expected to hold the largest share of the global on-orbit satellite servicing market during the forecast period.
The global on-orbit satellite servicing market is segmented by service, including active debris removal (ADR) and orbit adjustment, robotic servicing, refueling, and assembly. The active debris removal (ADR) and orbit adjustment segment will likely account for the majority of the global on-orbit satellite servicing market throughout the forecast period. The Active Debris Removal (ADR) and Orbit Adjustment segment of the global on-orbit satellite servicing market focuses on addressing the growing issue of space debris and optimizing satellite orbits.
The commercial segment is expected to hold the largest share of the global on-orbit satellite servicing market during the forecast period.
The global on-orbit satellite servicing market is divided into two segments: military & government and commercial. The commercial segment is projected to account for the majority of the global on-orbit satellite servicing market throughout the forecast period. The commercial space industry has seen significant growth and investment in recent years, resulting in an increase in the deployment of commercial satellites for a wide range of applications.
North America accounted for the largest share of the global on-orbit satellite servicing market in 2022.
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North America has long been a dominant force in the space industry, with the US leading in satellite technology and operations. The region is home to several major satellite operators, government space agencies (NASA and DoD), and private space companies.
The space industry in the Asia-Pacific region is rapidly expanding, with countries such as China and India expanding their space capabilities. Robotic satellite servicing missions have been established by Japan. With the increasing deployment of communication, Earth observation, and navigation satellites in the Asia-Pacific region, opportunities for on-orbit servicing providers are emerging.
Major vendors in the Global On-Orbit Satellite Servicing Market include Maxar Technologies, Astroscale Holdings Inc., SpaceLogistics LLC, Airbus SE, Thales Alenia Space, and Others.
Recent Developments
- In February 2023, Gilmour Space Technologies and Atomos Space announced the signing of an MOU to look into the possibility of a multi-year contract for Gilmour and Atomos to mutually purchase launching and in-space transportation services.
Key Target Audience
- Market Players
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Value-Added Resellers (VARs)
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2032. Spherical Insights has segmented the Global On-Orbit Satellite Servicing Market based on the below-mentioned segments:
Global On-Orbit Satellite Servicing Market, By Type
- Small Satellites
- Medium Satellites
- Large Satellites
Global On-Orbit Satellite Servicing Market, By Service
- Active Debris Removal (ADR) and Orbit Adjustment
- Robotic Servicing
- Refueling
- Assembly
Global On-Orbit Satellite Servicing Market, By End User
- Military & Government
- Commercial
Global On-Orbit Satellite Servicing Market, Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Uk
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of Middle East & Africa
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