Development of successful high-performance key components technologies has induced deployment of in-space and in-orbit services such as manufacturing, servicing and transportation. Feasibility and technological development of on-orbit repair, servicing, assembly and inspection have contributed toward the growth of in-space services. Primarily, in-space services focus on increasing satellite launches and removal of space debris. Emerging space companies are focused on in-space manufacturing, servicing and transportation services to further improve the on-orbit space capabilities.
COVID-19 scenario analysis:
In-space manufacturing, servicing and transportation have been negatively affected by the economic upheaval created by outbreak of COVID-19.
In-space activities is an industry with high levels of specialization and low production volumes.Thus, during the COVID-19 pandemic,the costs of entry such as strong government requirements, financing risks and technological risks to the sectorincreased owing to the funding cuts by governments.
Non-availability of raw materials and disruption in supply chain due to the lockdowns implemented globally acted as a major challenge for the growth of the in-space manufacturing, servicing and transportation market.
Space industry is suffering from financial losses from loss in revenue due to restriction in manufacturing of non-essential goodsimposed by government to control spread of COVID-19.
Top impacting factors: market scenario analysis, trends, drivers and impact analysis
Prioritization of sustainable space infrastructure,increase in development of on-orbit space capabilities by the emerging space players and rise in adoption of on-orbit services are the factors that act as a driver for the in-space manufacturing, servicing and transportation market. However, regulatory issues, legal issues and technological challengesrestrictsgrowth of the market. Contrarily, increase in space launches and increase in efforts to remove space debris presents new pathways for the industry.
The in-space manufacturing, servicing and transportation market trends are as follows:
Prioritization of sustainable space infrastructure
Use of in-situ resource utilization (ISRU) for sustainable space infrastructure has increased to store, process, collect and utilize materials manufactured or materials found on other astronomical objects to reduce materials to be brought from the Earth. Sustainable space infrastructure yields in reduction of cost and mass associated with space exploration architectures. For instance, in 2018, SpaceX started developing Mars propellant plant, which can produce methane on mars to be used as propellant with the help of Sabatier reaction. Mars propellant plant will mine required water from the subsurface water ice found on Mars instead of hydrogen being transported from Earth. Focus on fabrication of sustainable space infrastructure increases the growth of in-space manufacturing, servicing and transportation market.
Rise in adoption of on-orbit services
On-orbit services include repairing or refueling activities performed while the satellite is in orbit. Drop in costs of launching commercial satellites and rise in launches of geostationary low orbit satellites with lesser servicing costs encourages market growth of on-orbit services. For instance, in 2019, SpaceLogistics built MEV-1 a satellite designed for servicing of one of SpaceLogistics’ Intelsat-901 satellites. Servicing performed by MEV-1 extended the lifetime of Intelsat-901 satellite for five more years.Development and successful deployment of on-orbit services to repair or refuel existing satellites increases the demand for in-space manufacturing, servicing and transportation market.
Key benefits of the report:
- This study presents the analytical depiction of the in-space manufacturing, servicing and transportation industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the in-space manufacturing, servicing and transportation market share.
- The current market is quantitatively analyzed to highlight the in-space manufacturing, servicing and transportation market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed in-space manufacturing, servicing and transportation market analysis based on competitive intensity and how the competition will take shape in coming years.
Questions answered in the in-space manufacturing, servicing and transportation market research report:
- Which are the leading market players active in the in-space manufacturing, servicing and transportationmarket?
- What are the current trends that will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities in the market?
- What are the projections for the future that would help in taking further strategic steps?
In-Space Manufacturing, Servicing and Transportation Market Report Highlights
By End Use
Key Market Players
Tethers Unlimited Inc., Orbit Fab, Honeybee Robotics, Atomos Space, Northrop Grumman Corporation, Airbus, Chandah Space Technologies, Made In Space, Astroscale, Momentus Space