(MENAFN- Ameliorate Digital Consultancy)
As per the study initiated by Evolve Business Intelligence, the global On-Orbit Satellite Servicing market size accounted for USD 3.1 Billion in 2022, growing at a CAGR of 15.1% from 2023 to 2033. The on-orbit satellite servicing market is experiencing significant growth as the demand for extending the lifespan and functionality of satellites increases. On-orbit servicing involves activities such as refueling, repairing, and upgrading satellites in space. The market is driven by factors such as the growing number of satellites in orbit, cost-effective maintenance solutions, and the need to reduce space debris.
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Key Highlights:
The global On-Orbit Satellite Servicing Market size was valued at USD 3.1 billion in 2022 growing at a CAGR of 15.1% from 2023 to 2033. North America dominated the market in 2022 Asia Pacific is expected to fastest-growing at the highest CAGR from 2023 to 2033
Evolve Business Intelligence has recently released a new market research report on the Global On-Orbit Satellite Servicing Market. The report covers a wide range of aspects, such as market size and forecast, market dynamics, analysis of competitors' market share, value and volume of the market, SWOT analysis, product benchmarking, recent developments of key players, and potential opportunities. Additionally, the market has been assessed based on four indicators in the market dynamic chapter, including Drivers, Restraints, Key Trends, and Challenges.
In terms of COVID 19 impact, the On-Orbit Satellite Servicing market report also includes the following data points:
COVID19 Impact on On-Orbit Satellite Servicing market size End-User/Industry/Application Trend, and Preferences Government Policies/Regulatory Framework Key Players Strategy to Tackle Negative Impact/Post-COVID Strategies Opportunity in On-Orbit Satellite Servicing market
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Key Players
Some of the major On-Orbit Satellite Servicing players holding high market share include Maxar Technologies (US), Astroscale Holdings Inc. (Japan), SpaceLogistics LLC (US) and Airbus SE (Netherlands). These players use partnership and collaboration as a key strategy to gain significant market share to compete with market leaders.
The key players profiled in the report are:
Maxar Technologies (US) Astroscale Holdings Inc. (Japan) SpaceLogistics LLC (US) Airbus SE (Netherlands) Thales Alenia Space (France)
Segmental Analysis
Market Segment By Service with focus on market share, consumption trend, and growth rate of On-Orbit Satellite Servicing Market:
Active Debris Removal (ADR) and Orbit Adjustment Robotic Servicing Refueling Assembly
Market Segment By end-user with focus on market share, consumption trend, and growth rate of On-Orbit Satellite Servicing Market:
Military & Government Commercial
| Parameters | Details |
| Market Size (2022) | $ 3.1 Billion |
| CAGR (2023 to 2033) | 15.1% |
| Market Segmentation | Service and End User |
| Country Covered | US, Canada, Mexico, UK, Germany, France, Italy, Spain, Nordic Countries, BeNeLux, Rest of Europe, China, India, Japan, South Korea, Indonesia, Malaysia, Australia, Rest of Asia Pacific, Middle East & Africa, and South America |
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Global On-Orbit Satellite Servicing Geographic Coverage:
North America Europe UK Germany France Italy Spain Nordic Countries Benelux Rest of Europe
Asia Pacific China Japan India South Korea Indonesia Malaysia Australia Rest of Asia Pacific
Middle East and Africa Saudi Arabia UAE Egypt South Africa Rest of MEA
Latin America Mexico Brazil Argentina Rest of Latin America
Reasons to Buy this Report:
Detail analysis of the impact of market drivers, restraints, and opportunities Competitive Intelligence provides an understanding of the ecosystem Details analysis of the Total Addressable Market (TAM) of your products Investment Pockets and New Business Opportunities Demand-supply gap analysis Strategy Planning
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