Global Satellite Manufacturing and Launch Systems Market Analysis, Growth, Trends & Forecast 2018-2023 - ResearchAndMarkets.com
May. 14, 2018
DUBLIN--(BUSINESS WIRE)--May 14, 2018--The "Global Satellite Manufacturing and Launch Systems Market - Segmented by Type, Application, and Geography - Growth, Trends, and Forecast (2018 - 2023)" report has been added to ResearchAndMarkets.com's offering.
The global satellite manufacturing and launch system market is expected to register a CAGR of 5.32% to reach USD 25.90 billion by the year 2023. The application of satellites led by the military and the civil sector is increasing at a tremendous pace. The growing use of Unmanned Aerial Vehicles and smart weapons has explicitly put a lot of constraint on the existing infrastructure.
The satellite launch systems market is anticipated to witness an increased growth rate by the end of the forecast period and is anticipated to hold 30% of the global satellite manufacturing and launch market. There is an increase is investment in these systems by various nations, to have access to launch their satellites. The Asia Pacific region is expected to grow at the fastest rate in the forecast period and is poised to be the largest market by the end of the forecast period.
The rocket engine technology has seen much advancement in the last few years, especially because of private players entering the market and spending loads of money on research and development. Recently the China Aerospace Science & Technology Corporation (CASC) talked about the new invention to power up heavy launch vehicle CZ-9. This powering system consists of a gas generator and turbo pump structure for the 500-tonne class LOX/Kerosene Liquid engine.
Companies MentionedOrbital ATK Airbus Defense and Space SSL Boeing Defense Space & Security Raytheon Sierra Nevada S.A.eQuest Axelspace Dynetics GeoOptics Lockheed Martin
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Related Topics:Satellite Communications ,Space Systems, Satellites and Launchers
INDUSTRY KEYWORD: TECHNOLOGY SATELLITE MANUFACTURING AEROSPACE DEFENSE OTHER DEFENSE
SOURCE: Research and Markets
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PUB: 05/14/2018 06:54 AM/DISC: 05/14/2018 06:54 AM