The Satellite and Spacecraft Sub-system Market Size is valued at US$ 29.23 Bn in 2022 and is predicted to reach US$ 44.33 Bn by the year 2031 at a 4.9% CAGR during the forecast period for 2023-2031.
Spacecraft and satellites are complex systems made up of many interconnected sub-systems that work together to complete their missions in orbit. Each sub-system performs a particular job, and when combined, they allow the satellite or spacecraft to carry out the duties they were designed for. A number of demand-creating variables, technological breakthroughs, governmental changes, and competitive forces drives the market dynamics for satellite and spacecraft sub-systems.
The need for satellites and spacecraft has increased as a result of growing interest in space exploration and the commercialization of space operations. These applications include Earth observation, communication, navigation, and scientific research. Along with other factors, these market drivers foster an industry that is dynamic and ever-evolving for satellite and spacecraft sub-systems, creating chances for both long-standing firms and fresh competitors.
However, several countries implemented travel and movement restrictions during the epidemic, which impacted the supply chain for satellite and spacecraft sub-system components. Project delays and higher expenses were the results of manufacturing and delivery delays.
Competitive Landscape:
Some major key players in the Satellite and Spacecraft Sub-system Market:
- Airbus S.A.S.
- Ball Corporation
- Data Device Corporation
- Honeywell International
- Israel Aerospace Industries
- Lockheed Martin Corporation
- Mitsubishi Electric Corporation
- Northrop Grumman
- OneWeb
- O.H.B. System
Market Segmentation:
The Satellite and Spacecraft Sub-system Market is segmented on the basis of end-user and product. Based on the segment End-User, the market is segmented as commercial, civil government, defence and academic/research groups. The product segment includes a satellite sub-system, launch vehicle sub-system, and deep space probe sub-system.
The market is segmented by satellite sub-system into the payload, electrical & power sub-system, command and data handling system, communication sub-system, thermal control sub-system, attitude determination and control system, propulsion system, mechanism, actuator, and structure. The launch vehicle sub-system segment includes structure, avionics, propulsion, control, electrical, stage separation, and thermal systems.
As per the End-User, The Commercial Segment Is Accounted As A Major Contributor In The Satellite And Spacecraft Sub-System Market
In 2021, most of the global Satellite and Spacecraft Sub-system Market is projected to come from the commercial sector. In the commercial sector, the market for satellite and spacecraft sub-systems has seen tremendous expansion and diversification in recent years. Commercial companies are aggressively deploying communication satellites to provide telecommunication services, broadband internet, TV, and satellite-based mobile communication. To meet growing demands for connectivity and data transfer, there is an increase in the demand for advanced communication sub-systems, such as high-frequency transponders and phased-array antennas.
The Satellite Sub-System Segment Witnessed Growth At A Rapid Rate
The satellite sub-system segment is projected to grow at a rapid rate in the global satellite and spacecraft sub-system market. The prevalence of launch vehicles is increasing as a result of the proliferation of small satellite constellations, which provide diverse functions such as Earth observation, communications, and scientific study. Due to a number of variables, including decreased manufacturing costs, improved efficiency, and accessibility to specialized knowledge, there has been a growing trend toward outsourcing manufacturing in the launch vehicle industry.
In The Region, North America Satellite And Spacecraft Sub-System Market Holds A Significant Revenue Share
North America Satellite and Spacecraft Sub-system Market is expected to record the maximum market share in terms of revenue in the near future. Major companies and regulatory bodies in the nation are heavily investing in technology. Regarding Earth observation missions, North American satellites provide crucial information for environmental monitoring, climate research, disaster management, and agricultural applications. It is essential to have sub-systems for high-resolution imaging and data processing for these missions.
Satellite and Spacecraft Sub-system Market Report Scope
Report Attribute |
Specifications |
Market size value in 2022 |
USD 29.23 Bn |
Revenue forecast in 2031 |
USD 44.33 Bn |
Growth rate CAGR |
CAGR of 4.9% from 2023 to 2031 |
Quantitative units |
Representation of revenue in US$ Bn and CAGR from 2023 to 2031 |
Historic Year |
2019 to 2022 |
Forecast Year |
2023-2031 |
Report coverage |
The forecast of revenue, the position of the company, the competitive market structure, growth prospects, and trends |
Segments covered |
By Product, By End-User |
Regional scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
Country scope |
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico ;The UK; France; Italy; Spain; China; Japan; India; South Korea; South East Asia; South Korea; South East Asia |
Competitive Landscape |
Airbus S.A.S, Ball Corporation, Data Device Corporation, Honeywell International, Israel Aerospace Industries, Lockheed Martin Corporation, Mitsubishi Electric Corporation, Northrop Grumman, OneWeb, and OHB System |
Customization scope |
Free customization report with the procurement of the report, Modifications to the regional and segment scope. Particular Geographic competitive landscape. |
Pricing and available payment methods |
Explore pricing alternatives that are customized to your particular study requirements. |