Rising deployment of navigation facilities to drive commercial satellite launch service market
Date: 2018-06-08   Author: Sunil Hebbalkar  Category: #market

Rising deployment of navigation facilities to drive commercial satellite launch service market

The increasing adoption of online cab services and other internet-based services along with the changing consumer lifestyles will drive reportedly commercial satellite launch service market. The advent of various advanced technologies such as IoT, GPS, and TV broadcasting is also expected to have an impact on the industry growth.

Five trends prevalent in commercial satellite launch service industry:

  • The surging innovation in vehicle technologies across several geographies comprising Indonesia, Brazil, and Argentina will propel the demand for small satellites. As per estimates, small satellites will account 29% of commercial satellite launch service industry share by 2024.
  • Reportedly, North America will continue its dominance in commercial satellite launch service market driven by the development of launch facilities in the region. The escalating demand for communication and navigation satellites will push the regional industry size.
  • As per the estimates, low earth orbits (LEO) based commercial satellite launch service market size will register a CAGR of more than 3% over 2018-2024, owing to the lower associated costs and the development of communication networks across several geographies.
  • Reconnaissance applications are expected to cover around 36% of commercial satellite launch service market share. The growth can be credited to the emergence of advanced farming techniques including precision farming and the adoption of unmanned aerial vehicles (UAVs) and geographical information systems (GIS).
  • The shifting focus of various countries on national security will transform remote sensing commercial satellite launch service industry outlook. The growth can be attributed to the rising technological developments in remote sensing space systems.

Top-notch biggies in commercial satellite launch service market such as Arianespace SA, Orbital ATK Inc., Eurockot Launch Services, Mitsubishi Heavy Industries, Ltd., Space Exploration Technologies Corp., International Launch Services (ILS), and Antrix Corporation Limited have reportedly been very proactive in adopting numerous strategies to expand the industry landscape.

About Author

Sunil Hebbalkar

Sunil Hebbalkar

Sunil currently works as an content writer at AlgosOnline. A Post graduate mechanical design engineer by qualification, he worked as an intern at the defense lab for one year in the engine design and development department before switching his professional genre. Foll...

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