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Allied Market Research

Space Service Market by Type (Pre-Launch Services, Launch Acquisition & Coordination, Tracking Data and Telemetry Support, Others, Post Launch Services, Launch and Early Operations Phase (LEOP), Resupply Missions, and Others), Payload (Human Spacecraft, Cargo, and Testing Probes), and Orbit (LEO, MEO, and GEO): Global Opportunity Analysis and Industry Forecast, 2020–2027

A09239
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Jun 2021 | 435 Views
 
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COVID-19

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Space Service Market Outlook - 2027

Space service industry refers to economic activities related to manufacturing components that go into earth's orbit or beyond, delivering them to those regions, and related services. Space services include satellite manufacturing, support ground equipment manufacturing, and launch services, mobile terminals, gateways, control stations, very small aperture terminal or VSATs, direct broadcast satellite dishes, and other specialized equipment. Furthermore, space service include launch services, vehicle manufacturing, and subsystem manufacturing.

Market scope and structure analysis:

Report Metric

Details

  Market size available for years

  2020–2027

  Base year considered

  2019

  Forecast period

  2021–2027

  Forecast units

  Value (USD)

  Segments covered

  Type, payload, and orbit

  Regions covered

North America (US and Canada), Europe (Germany, UK, France, and the Rest of Europe), Asia Pacific (China, Japan, India, and the Rest of Asia Pacific), Latin America (Brazil, Mexico, and the Rest of LATAM), and Middle East and Africa

  Companies covered

 

Antrix Corporation , Arianespace , Boeing , China Great Wall Industry Corporation , EUROCKOT , ILS International , Lockheed Martin , Mitsubishi Heavy Industries , Orbital ATK , Space Exploration Technologies

 

COVID-19 scenario analysis

  • The global market for space service is severely impacted by the outbreak of the COVID-19 pandemic. 
  • The COVID-19 pandemic saw a decline in the economic growth in almost all the major countries, thus affecting consumer spending patterns. 
  • Owing to the lockdown implemented across various countries, national and international transport have been hampered, which has significantly impacted the supply chain of numerous industries across the globe, thereby increasing the supply–demand gap.
  • Thus, insufficiency in raw material supply is expected to hamper the market growth.
  • However, this situation is expected to improve as government has started relaxing norms around the world for resuming business activities. 

Top impacting factors: market scenario analysis, trends, drivers, and impact analysis

Increasing use of space technology in communications, positioning services, earth observation, and economic activity related to government-funded space programs is one of the significant driver for space service market. 

In addition, space service has various application in weather prediction and climate monitoring for accurate weather prediction enabled by space systems which has become a critically important element in our daily lives, impacting government, industry, and personal decision making. 

Moreover, earth observing satellites also monitor greenhouse gases and other crucial climate indicators, as well as overall earth ecosystem health. Without this kind of environmental information coming from satellites, plans for dealing with climate change would have less scientific basis.

Furthermore, space service through earth observation provides information and support for agricultural production, fisheries management, freshwater management, and forestry management, as well as monitoring for harmful activities, such as illegal logging, animal poaching, fires, and environmentally pernicious mining.

Space communication capabilities positively impact almost every aspect of human civilization. All these uses of space services will further drive the space service market.

Space service market trends are as follows:

Increasing use of mega constellation

Mega constellations, also known as low earth-orbit or LEO satellite constellations, are webs of networked satellites, which orbit the Earth at altitudes of 2,000 km or less. This is an emerging trend with huge potential, which is likely to enhance the efficiency, capacity, and security of a variety of services to Earth-based business customers by drastically cutting communications latency, while increasing throughput and global coverage. 

Recently, SpaceX has successfully launched 60 more Starlink satellites, its third Starlink mission in 2020 and its fifth overall, as it continues to rapidly expand its mega constellation to provide high-speed internet around the globe.

Also, amazon is also launching project Kuiper. Project Kuiper is a constellation of 3,236 satellites which Amazon plans to deploy in low Earth orbit for low-latency, high-speed broadband. 

Increasing trend of space based data centers    

Data centers are centralized locations where computing and networking equipment is concentrated for the purpose of collecting, storing, processing, distributing or allowing access to large amounts of data. They provide important services such as data storage, backup and recovery, data management and networking. 

Data centers are the essential for the Internet that drives much of today’s economy, but they consume vast and increasing amounts of electricity. Presently, data centers are often being located in cold climates to take advantage of lower operating temperatures and cooling loads.

However, if data is placed in space, and their power supplies directly is in space using the virtually unlimited solar energy, to remove the burden of Earth-based electricity systems to power them. 
There are several advantages, including increased physical security, decreased signal transmission times, and superior performance of spinning disk drives in microgravity. It is possible that space-based data centers could eventually become cost effective, resulting in lower electricity demand and carbon emissions on Earth.

Key segments covered:

Segments

Subsegments

  Type

  • Pre-Launch Services
  • Launch Acquisition & Coordination
  • Tracking Data and Telemetry Support
  • Others

Post Launch Services

  • Launch and Early Operations Phase (LEOP)
  • Resupply Missions
  • Others

  Payload

  • Human Spacecraft
  • Cargo
  • Testing Probes

  Orbit

  • LEO
  • MEO
  • GEO

 

Key benefits of the report:

  • This study presents the analytical depiction of the space service market 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 space service market share.
  • The current market is quantitatively analyzed from 2020 to 2027 to highlight space service market.
  •  Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market. 
  • The report provides a detailed space service market analysis depending on competitive intensity and how the competition will take shape in coming years. 

Questions answered in space service market report:

  • Which are the leading players active in the space service market?
  • What are the current trends that will influence the market in the next few years?
  • What are the driving factors, restraints, and opportunities of the market?
  • What are the projections for the future that would help in taking further strategic steps?
 
With collective industry experience of about 200 years of its analysts and experts, Allied Market Research (AMR) encompasses most infallible research methodology for its market intelligence and industry analysis. We do not only engrave the deepest levels of markets but also sneak through its slimmest details for the purpose of our market estimates and forecasts. Our approach helps in building greater market consensus view for size, shape and industry trends within each industry segment. We carefully factor in industry trends and real developments for identifying key growth factors and future course of the market. Our research proceeds are the resultant of high quality data, expert views and analysis and high value independent opinions. Our research process is designed to deliver balanced view of the global markets and allow stakeholders to make informed decisions.

We offer our clients exhaustive research and analysis based on wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics and regional intelligence. Our in-house industry experts play instrumental role in designing analytic tools and models, tailored to the requirements of particular industry segment. These analytical tools and models sanitize the data & statistics and enhance the accuracy of our recommendations and advice. With AMR’s calibrated research process and 360` degree data-evaluation methodology, our clients are assured of receiving:

  • Consistent, valuable, robust and actionable data & analysis that can easily be referenced for strategic business planning
  • Technologically sophisticated and reliable insights through well audited and veracious research methodology
  • Sovereign research proceeds that present a tangible depiction of marketplace


With a strong methodology we are, therefore, confident that our research and analysis are most reliable and guarantees sound business planning.

Secondary research
We refer a broad array of industry sources for our secondary, which typically include; however, not limited to: Company SEC filings, annual reports, company websites, broker & financial reports and investor presentations for competitive scenario and shape of the industry

  • Patent and regulatory databases for understanding of technical & legal developments
  • Scientific and technical writings for product information and related preemptions
  • Regional government and statistical databases for macro analysis
  • Authentic new articles, web-casts and other related releases for market evaluation
  • Internal and external proprietary databases, key market indicators and relevant press releases for market estimates and forecast


Primary research
Our primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks and face-to-face interactions. We are also in professional corporate relations with various companies that allow us greater flexibility for reaching out industry participants and commentators for interviews and discussions, fulfilling following functions:

  • Validates and improves the data quality and strengthens research proceeds
  • Further develops analyst team’s market understanding and expertise
  • Supplies authentic information about market size, share, growth and forecasts


Our primary research interview and discussion panels are typically composed of most experienced industry members. These participants include; however, not limited to:

  • Chief executives and VPs of leading corporations specific to industry
  • Product and sales managers or country heads; channel partners and top level distributors; banking, investments and valuation experts Key opinion leaders (KOLs)


Analyst tools and models
AMR has developed set of analyst tools and data models to supplement and expedite the analysis process. Corresponding to markets, where there is significant lack of information and estimates, AMR’s team of experts and analyst develop specific analyst tools and industry models to translate qualitative and quantitative industry indicators into exact industry estimates. These models also allow analysts to examine the prospects and opportunities prevailing in the market to accurately forecast the course of the market.
 
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