Market research reports, consulting: Global Market Insights Inc.

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Satellite Manufacturing Market Size

Report ID: GMI12198 Published Date: November 2024Report Format: PDF
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Satellite Manufacturing Market Size

The global satellite manufacturing market size was valued at USD 19 billion in 2024 and is estimated to grow at a CAGR of 14.8% from 2025 to 2034. The market is growing as demand rises for advanced Earth observation and data analytics. This growth stems from the need for real-time, high-resolution data in areas like environmental monitoring, disaster response, agriculture, and urban planning. Technological progress in satellite miniaturization and operational efficiency has led to the deployment of small satellites and CubeSats that can perform complex observation tasks, further driving market expansion.

 

Satellite Manufacturing Market

For instance, in November 2023, Blue Canyon Technologies (BCT), a small-satellite manufacturer and mission services provider owned by RTX, announced the successful launch and initial contact with CubeSats for NASA's Starling mission. This technology demonstration aims to validate the ability of cooperative spacecraft groups to operate autonomously and in sync, showcasing "swarm" capabilities.

Private investment is driving innovation in satellite manufacturing as companies seek to capitalize on the growing space economy. Firms like Blue Canyon Technologies (a subsidiary of RTX), Maxar Technologies, and Planet Labs are taking larger roles in satellite development. This influx of private capital has sped up innovation, resulting in more advanced satellite technologies. These include smaller and modular designs that serve various commercial needs such as communication, Earth observation, and data analysis.

As a result, the industry is becoming more dynamic and responsive to market demands, with private companies playing an increasingly significant role in shaping the future of satellite technology.

Author: Suraj Gujar, Partha Paul
Frequently Asked Question(FAQ) :

How significant is the Low Earth Orbit (LEO) segment in the satellite manufacturing industry?+

The Low Earth Orbit (LEO) segment is expected to register a CAGR of over 15% during the forecast period, led by the rapid rise in small satellite deployments, including CubeSats and nanosatellites.

How big is the satellite manufacturing market?+

The market size of satellite manufacturing reached USD 19 billion in 2024 and is set to grow at a 14.8% CAGR from 2025 to 2034, driven by the rising demand for advanced Earth observation and data analytics.

Who are the major players in the satellite manufacturing industry?+

The key players in the industry include Airbus, BAE Systems, Beijing Smart Satellite, Blue Canyon Technologies, Boeing, Dhruva Space, EnduroSat, Indian Space Research Organisation, INVAP, Lockheed Martin, Maxar Technologies, Mitsubishi Electric, Northrop Grumman, OHB, SpaceX and Sierra Nevada.

How much of the satellite manufacturing market did North America hold in 2024?+

North America dominated the market with a 48.4% share in 2024, propelled by the increasing demand for small satellites and advanced satellite constellations.

Satellite Manufacturing Market Scope

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