Dublin, Feb. 23, 2021 (GLOBE NEWSWIRE) -- The "Space Equipment - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
Global Space Equipment Market to Reach $496.7 Billion by 2027
Amid the COVID-19 crisis, the global market for Space Equipment estimated at US$369 Billion in the year 2020, is projected to reach a revised size of US$496.7 Billion by 2027, growing at a CAGR of 4.3% over the analysis period 2020-2027.
Communications Satellites, one of the segments analyzed in the report, is projected to record a 5.3% CAGR and reach US$233.9 Billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Earth Observation Satellites segment is readjusted to a revised 3.3% CAGR for the next 7-year period.
The U.S. Market is Estimated at $108.7 Billion, While China is Forecast to Grow at 4% CAGR
The Space Equipment market in the U.S. is estimated at US$108.7 Billion in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$87.6 Billion by the year 2027 trailing a CAGR of 4% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 4.3% and 3.3% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 3.5% CAGR.
Launch Vehicles Segment to Record 4% CAGR
In the global Launch Vehicles segment, USA, Canada, Japan, China and Europe will drive the 4% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$64.7 Billion in the year 2020 will reach a projected size of US$85.4 Billion by the close of the analysis period.
China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$56.7 Billion by the year 2027.
Competitors identified in this market include, among others:
- AAR CORP.
- Airbus Group SE
- Applied Radar, Inc.
- Arianespace SA
- BAE Systems Plc
- Ball Aerospace
- Bombardier, Inc.
- Dassault Aviation SA
- DigitalGlobe, Inc.
- Honeywell International, Inc.
- Israel Aerospace Industries Ltd.
- Lockheed Martin Corporation
- Northrop Grumman Corporation
- RUAG Holding AG
- Safran SA
- Space Exploration Technologies Corp.
- The Boeing Company
Key Topics Covered:
I. INTRODUCTION, METHODOLOGY & REPORT SCOPE
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
- Impact of Covid-19 and a Looming Global Recession
- Aerospace & Defense, The World's Largest & Most Powerful Industry, Undergoes Transformation
- Adoption of Digital & Advanced Manufacturing Technologies: The First Step in Transforming Operations
- Material & Engineering Innovations: The Second Step in Engineering & Product Transformation
- Growing Pressure to Reduce Design & Manufacturing Costs and Lead Times Encourages Supply Chain Transformation
- Recent Market Activity
- Global Competitor Market Shares
- Space Equipment Competitor Market Share Scenario Worldwide (in %): 2018 & 2029
2. FOCUS ON SELECT PLAYERS
- AAR CORP. (USA)
- Airbus Group (Netherlands)
- Applied Radar, Inc. (USA)
- Arianespace SA (France)
- BAE Systems Plc (United Kingdom)
- Ball Aerospace & Technologies Corporation (USA)
- Bombardier, Inc. (Canada)
- Dassault Aviation SA (France)
- DigitalGlobe (USA)
- Honeywell International, Inc. (USA)
- Indra Sistemas, S.A. (Spain)
- Israel Aerospace Industries Ltd (Israel)
- L3 Technologies, Inc. (USA)
- Leonardo S.p.A. (Italy)
- Lockheed Martin Corporation (USA)
- Northrop Grumman Corporation (USA)
- Orbital ATK, Inc. (USA)
- Planet Labs Inc. (USA)
- Raytheon Company (USA)
- RUAG AG (Switzerland)
- Safran S.A. (France)
- Space Exploration Technologies Corp (USA)
- The Boeing Company (USA)
- UTC Aerospace Systems (USA)
- Pratt & Whitney (USA)
3. MARKET TRENDS & DRIVERS
- Expanding Applications of Satellite Imagery in Commercial & Military Sectors Bodes Well for the Growth in Demand for Satellites
- Micro-Satellites Make Their Mark
- Missile Defense Continues to Play a Pivotal Role in 21st Century Combat Force
- Rising Prices of Combat Aircraft Shifts Focus on Innovations in Air-to-Air Missile Systems
- European Combat Aircraft Deploy Indigenous Air-to-Air Missile Systems to Curtail Dependence on US Defense Technology
- Longer Range and Innovative Seeker Software Enable Air-to-Surface Missiles to Achieve Pinpoint Accuracy in Dense Air Defense Environments
- Longer Range and Precision Strike Surface-to-Surface Missiles Enable Combat Forces to Engage Targets over a Vast Geographical Area
- New Generation Anti-Ship Missiles Use Stealth, Speed and Sea-Skimming Capability to Evade Detection and Interception by Enemy Radar
- Advancing Scientific Research in the Field of Space Exploration to Drive Global Demand for Space Equipment
- Shape Shifting Satellite and Hypersonic Space Plane to Provide Low Cost Access to Space
- Earth Observation Small Satellites Provide Rapidly Refreshed High Resolution Imagery for Immediate Analysis and Improved Decision Making
- High Throughput Communication Satellites to Serve Unprecedented Demands for Video and Data Services
4. GLOBAL MARKET PERSPECTIVE
III. MARKET ANALYSIS
GEOGRAPHIC MARKET ANALYSIS
- Market Facts & Figures
- Space Equipment Market Share (in %) by Company: 2018 & 2025
- Market Analytics
- Space Equipment Market Estimates and Projections in US$ Million by Type: 2020 to 2027
- Space Equipment Market by Type: A Historic Review in US$ Million for 2012-2019
- Space Equipment Market Share Breakdown by Type: 2012 VS 2020 VS 2027
IV. COMPETITION
Total Companies Profiled: 36
For more information about this report visit https://www.researchandmarkets.com/r/xluuol