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The growing commercial interest in the satellite industry has led to stronger public-private partnerships. Governments are collaborating with private companies to achieve shared objectives, including space exploration, defense, and national infrastructure enhancement. This partnership approach encourages innovation while providing private companies access to public resources and funding. The resulting symbiotic relationship fosters growth and technological progress in the satellite sector.
For instance, in July 2024, the Indian National Space Promotion and Authorization Centre (IN-SPACe) launched an Expression of Interest (EoI) aimed at establishing a space-based Earth Observation (EO) system through a Public-Private Partnership (PPP). The Public-Private Partnership (PPP) model encourages teamwork between government agencies and private companies in satellite development. By working together, they can share resources, reduce risks, and exchange knowledge. This cooperation helps make the satellite manufacturing industry stronger and more capable.
North America dominated the market with a 48.4% share in 2024, propelled by the increasing demand for small satellites and advanced satellite constellations.
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.
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.
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.