Dublin, Sept. 05, 2023 (GLOBE NEWSWIRE) -- The "Satellite and Spacecraft Subsystem Market - A Global and Regional Analysis: Focus on End User, Satellite Subsystem, Launch Vehicle Subsystem, Deep Space Probe Subsystem, and Country - Analysis and Forecast, 2023-2033" report has been added to ResearchAndMarkets.com's offering.
The global satellite and spacecraft subsystem market is projected reach a value of $54.55 billion by 2033 from $36.47 billion in 2023, growing at a CAGR of 4.11%
The global satellite and spacecraft subsystem market has witnessed a remarkable surge in growth, propelled by the ever-advancing landscape of technology and the emergence of novel applications. This surge finds its roots in the flourishing commercial space industry, which has exhibited steadfast expansion and robust advancement, evidenced by the surging count of satellite launches and a significant surge in the overall tally of active satellites orbiting our planet.
Notably, the development of SmallSats and CubeSats has ignited the interest of private enterprises and governmental agencies alike, presenting a more cost-effective gateway to space and facilitating the birth of innovative business models, such as satellite constellations. These diminutive marvels, with SmallSats accounting for a staggering 95% of satellites launched in 2022, have played a pivotal role in magnifying the industry's capabilities.
Of particular significance is the uninterrupted coverage that these satellites provide, rendering them indispensable for critical applications such as telecommunications, Earth observation, and positioning systems. The newfound availability of satellite constellations ushers in a new era of opportunities across various sectors, spanning telecommunications, agriculture, climate monitoring, disaster response, and beyond.
The report underlines a pivotal development - in 2022, a staggering 2,243 commercial satellites took their place in orbit, showcasing a remarkable surge of over 32% compared to the previous year. The surge is further stoked by the burgeoning adoption of artificial intelligence (AI) in space. By harnessing the prowess of AI in testing and deploying satellite and spacecraft subsystems, engineers and operators enhance performance, elevate reliability, and optimize operational efficiency.
This integration of AI technologies promises to unlock more advanced and capable subsystems, underscoring the seamless execution of missions and the realization of satellite and spacecraft operations' full potential. In this narrative of advancement, notable industry players like Airbus S.A.S., Lockheed Martin Corporation, Northrup Grumman, Date Device Corporation, among others, stand as beacons of innovation and advancement. Their substantial investments in research and development underscore the industry's pursuit of introducing groundbreaking and advanced subsystems.
Moreover, the trajectory of the market points to satellite constellations as the driving force in the forthcoming period. These constellations, with their global or near-global coverage, guarantee the presence of at least one satellite at any given time and location on Earth, solidifying their status as the bedrock of uninterrupted connectivity.
Industrial Impacts
Increased investment from private industry has emerged as a significant driver of growth in the global satellite and spacecraft subsystem market.
This surge in private sector investments has fostered heightened competition, innovation, and the emergence of new business models, such as mega constellations comprising hundreds or thousands of satellites in low Earth orbit (LEO) to deliver services such as low-latency broadband.
It is anticipated that by the end of 2023, over 5,000 broadband satellites will be in LEO, providing high-speed internet to millions of subscribers across the globe. Private companies such as SpaceX, Blue Origin, and Relativity Space are actively investing in the development and commercialization of innovative technologies such as reusable launch vehicles.
Market Segmentation
Commercial Segment dominates the Global Satellite and Spacecraft Subsystem Market (by End User)
The global satellite and spacecraft subsystem market was led by the commercial end user, generated $27,778.0 million in 2022, and is expected to reach $43,686.6 million in 2033 at a CAGR of 3.61% during the forecast period 2023-2033. The demand for satellite communication services is surging in the commercial sector.
Companies require reliable and efficient communication systems for a wide range of applications, including broadband internet services, telecommunication networks, and data transfer. These services heavily rely on satellite and spacecraft subsystems for signal transmission, data processing, and reception.
Furthermore, the trend toward small satellites, including CubeSats and nanosatellites, is particularly prominent in the commercial space sector. These smaller satellites offer cost-effectiveness and rapid deployment opportunities for various applications.
Payload Segment Leads the Global Satellite and Spacecraft Subsystem Market (by Satellite Subsystem)
The global satellite and spacecraft subsystem (satellite subsystem) market is expected to be dominated by the payload in 2023.
Payloads are critical components of satellites that carry instruments and equipment used to collect and process data for various applications. As the demand for satellite-based data and services continues to grow across sectors such as communication, Earth observation, weather monitoring, navigation, and scientific research, the need for advanced and specialized payloads increases.
Additionally, as governments, businesses, and research institutions increasingly rely on satellite data for decision-making, the demand for such payloads rises significantly.
North America is anticipated to grow at a CAGR of 3.02%
The presence of a larger number of established satellite and spacecraft subsystem providers is driving the market in the region. The presence of major industry players such as Northrop Grumman, Teledyne Technologies, Texas Instrument, Data Device Corporation, and Microchip Technology Inc. within the region with growth strategies such as partnerships are paving the way for market opportunities.
Additionally, the strategic adoption of 3D printing technology by the U.S. companies in this sector is a deliberate choice. By leveraging 3D printing, these companies can reduce satellite and spacecraft complexity while enhancing the overall manufacturability of satellite and spacecraft subsystems.
The U.S. dominates the global satellite and spacecraft subsystem market in the region, with various key players dedicated to developing rockets that are specifically designed to meet the requirements of commercial enterprises and government organizations involved in launching payloads into low Earth orbit (LEO), medium Earth orbit (MEO), geostationary equatorial orbit (GEO), and beyond.
Recent Developments in the Global Satellite and Spacecraft Subsystem Market
In June 2023, OHB Sweden, a subsidiary of the space and technology group OHB SE, and Thales Alenia Space signed an agreement to undertake the design, manufacturing, integration, testing, and delivery of a propulsion system for two important ESA/EU Copernicus missions, namely CHIME and ROSE-L. Furthermore, the ROSE-L mission would facilitate various applications, contributing to various fields such as agriculture, environmental monitoring, food security, and hazard management.
In June 2023, SpaceLogistics, a wholly owned subsidiary of Northrop Grumman, entered into a purchase agreement with Intelsat, a prominent communications satellite operator. As part of this agreement, SpaceLogistics' Mission Robotic Vehicle (MRV), a spacecraft equipped with robotic arms, would install the Mission Extension Pod (MEP) on an Intelsat communications satellite in geosynchronous Earth orbit (GEO). This installation would effectively extend the satellite's operational life by a minimum of six years.
In June 2023, Telstra and OneWeb signed an agreement to implement one of the world's largest rollouts of OneWeb's low Earth orbit (LEO) backhaul for a commercial mobile network. Following successful testing in Australia, Telstra and OneWeb reached a commercial agreement and would begin transitioning hundreds of existing remote mobile base stations, which currently rely on satellite backhaul, to OneWeb's LEO solution starting by the end of 2023. Additionally, Telstra plans to utilize OneWeb's LEO services for future sites where satellite backhaul is the preferred or only viable option.
In May 2023, Lockheed Martin Corporation is a part of the winning team that secured a contract from NASA to develop and demonstrate a human landing system as part of the agency's Human Landing System program, which is a crucial component of the Artemis program.
Key Market Players and Competition Synopsis
The companies that are profiled have been selected based on thorough secondary research that includes analyzing company coverage, product portfolio, market penetration, and insights, which are gathered from primary experts.
The top established satellite and spacecraft subsystem providers hold around 79% of the presence in the market. The start-ups in the market hold around 21% of the global satellite and spacecraft subsystem market.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 241 |
| Forecast Period | 2023 - 2033 |
| Estimated Market Value (USD) in 2023 | $36.47 Billion |
| Forecasted Market Value (USD) by 2033 | $54.55 Billion |
| Compound Annual Growth Rate | 4.1% |
| Regions Covered | Global |
Industry Outlook
- New Space Business Scenario: A Growth Factor in the Satellite and Spacecraft Subsystem Market
- Impact of 3D Printing: Revolutionizing Space Industry
- Changing Landscape of Space Composites
- Impact of Commercial-Off-the-Shelf (COTS)Components in Satellite Serial Production
- Supply Chain Analysis
Business Drivers
- Increasing Research and Development Activities for Developing Cost-Efficient Subsystem and Component
- Rising Demand for Satellite-Based Downstream Services
Business Opportunities
- Growing Developments for Cislunar Programs
Business Strategies
- New Product Launches, Developments, and Others
Corporate Strategies
- Partnerships, Collaborations, Agreements, Contracts, and Others
- Mergers and Acquisitions
Business Challenges
- Impact of Space Radiation on Spacecraft and Astronauts
- Rising Impact of Cyberattacks on Satellites
- Evolution of Standardized Satellite and Subsystem Platform
Key Companies Profiled:
- Airbus S.A.S.
- Ball Aerospace
- Data Device Corporation
- Honeywell International
- Israel Aerospace Industries
- Lockheed Martin Corporation
- Mitsubishi Electric Corporation
- Northrop Grumman
- OneWeb
- OHB System
Global Satellite and Spacecraft Subsystem Market (by End User)
- Commercial
- Civil Government
- Defense
- Academic/Research Group
Global Satellite and Spacecraft Subsystem Market (by Satellite Subsystem)
- Payload
- Electrical and Power Subsystem
- Command and Data Handling System
- Communication Subsystem
- Thermal Control Subsystem
- Attitude Determination and Control Subsystem
- Propulsion System
- Mechanism
- Actuator
Global Satellite and Spacecraft Subsystem Market (by Launch Vehicle Subsystem)
- Avionics
- Propulsion System
- Control System
- Electrical System
- Stage Separation
- Thermal System
Global Satellite and Spacecraft Subsystem Market (by Deep Space Probe Subsystem)
- Orbiter, Lander, and Rover
For more information about this report visit https://www.researchandmarkets.com/r/gq7lq2
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