Global Satellite Manufacturing and Launch Market classifications, applications and market overview, product specifications And Industry Forecasts, 2017

A satellite is an object launched in space that circles around larger objects. The two types of satellites include artificial and natural. The International Space Station (ISS)is an artificial satellite, while the moon is a natural satellite orbiting the Earth.

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Artificial satellites are generally computer-controlled, semi-independent systems that are used for many purposes. Some of the common types of these satellites include communication, military, and navigation satellites. Various companies have made a lot of developments in satellite manufacturing in the recent past. Development of reusable Space Launch Vehicles (SLVs),microsatellites, and 3D printed satellites are some of the important breakthroughs.

Development of Reusable SLVs

The trend of developing reusable SLVs is helping companies to substantially reduce the overall project costs. Leading manufacturers, such as SpaceX, focus on developing such reusable SLVs that can return to the ground safely without burning and crashingon the launch pads.

Microsatellites

Microsatelliteisa cheaper alternative that can perform required functions like communication, GPS navigation, and surveillance like any traditional bulky satellite. These satellites are not only cheaper but they are also faster to create and launch. Microsatellites are also useful in missions that cannot be carried out by traditional satellites, for instance, taking an in-orbit survey of bigger satellites.

3D Printed Satellites

With 3D printing, final products are created directly through Computer-Aided Drafting (CAD) designing. This manufacturing system does not demand expensive designing molds. A single system enables the production of several components and satellite parts just by modifying the CAD designs as required.In addition, this multi-layered process utilizes minimal raw materials thereby saving additional manufacturing cost and raw material consumption.

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Market Insights

As per the latest report available on Radiant Insights, Inc.; the global satellite manufacturing and launch market is expected to have fast-paced growth in near future.Increased utilization of satellites in applications such as mineral prospecting, agriculture, disaster management, military surveillance, and many defense applications is projected to boost the market.

Market Players

The leading satellite manufacturers in the global market include Space Exploration Technologies Co. (SpaceX); Orbital ATK Inc.; Airbus SE; The Boeing Company; JSC Information Satellite Systems Reshetnev; and Lockheed Martin.