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Technavio has been monitoring the global satellite manufacturing and launch market since 2015 and the market is poised to grow by $5.73 billion, progressing at a CAGR of over 4% during the forecast period.
The market is driven by increasing demand for satellite-based telemetry systems. In addition, the trend of miniaturization is anticipated to boost the growth of the satellite manufacturing and launch market.
The growing demand for mapping and location-based services by defense, science, and R&D organizations has increased the use of satellite telemetry. For instance, the US Government uses satellite telemetry to provide satellite tracking, telemetry, and command to specific users through several ground-based antennas located across the world. End-users such as surveyors, farmers, miners, fishermen, engineers, and other decision-makers also leverage earth observation data to meet their business objectives. The increasing demand for satellite-based telemetry systems is expected to fuel market growth during the forecast period.
Major Five Satellite Manufacturing and Launch Companies:
1. Airbus SE
Airbus SE owns and operates its business across segments such as Airbus, Helicopters, and Defence and Space. The company offers a wide range of earth-observation satellites, telecommunication satellites, and launch vehicles. Some of the popular models offered by the company include AstroBus-XS, G03S, AstroBus-S, AstroBus-L, Xpress, and HybridSAR.
Boeing owns and operates its business across segments such as Commercial Airplanes, Defense, Space, & Security, Global Services, and Boeing Capital. 702SP, 702MP, 702HP, and 702HP-GEM are some of the satellites offered by the company.
3. Lockheed Martin Corp.
Lockheed Martin Corp. owns and operates its business across segments such as Aeronautics, Missiles and Fire Control (MFC), Rotary and Mission Systems (RMS), and Space. AEHF satellite offered by the company is used for transmission of tactical military communications, such as real-time video, battlefield maps, and targeting data.
4. Northrop Grumman Corp.
Northrop Grumman Corp. owns and operates its business across various segments including aerospace systems, innovation systems, mission systems, and technology services. The company offers a wide range of communication satellites, imaging satellites, science and environment satellites, and space launch vehicles.
5. Raytheon Co.
Raytheon Co. owns and operates its business across various segments such as integrated defense systems, intelligence, information and services, missile systems, space and airborne systems, and force point. The company develops small satellites such as PolarScout for the US DHS to help search and rescue teams locate emergency beacons in remote areas, such as the Arctic.