Satellite Manufacturing Market To Surpass USD 72.5 Billion By 2034, Says Global Market Insights Inc.

(MENAFN- GlobeNewsWire - Nasdaq) Satellite manufacturing industry size is expected to register 14.8% CAGR between 2025 and 2034 propelled by increased demand for communication services.

Selbyville, Delaware , Jan. 07, 2025 (GLOBE NEWSWIRE) -- Satellite Manufacturing market was valued at USD 19 billion in 2024 and is projected to be worth USD 72.5 billion by the end of 2034, as per a recent study by Global Market Insights Inc.

This growth is fueled by increasing demand for advanced Earth observation technologies and data analytics. Real-time, high-resolution data is crucial in sectors such as environmental monitoring, disaster management, agriculture, and urban planning. The development of small satellites and CubeSats, thanks to advancements in satellite miniaturization and efficiency, is further propelling market growth as these compact satellites perform complex tasks with greater precision.

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The surge in private sector investment is driving innovation in satellite manufacturing as businesses capitalize on the expanding space economy. With growing interest in space exploration and satellite services, private companies are contributing to the development of cutting-edge satellite technologies. These advancements include modular and smaller designs that cater to diverse commercial needs like communication, Earth observation, and data collection.

The satellite manufacturing market is segmented based on the satellite orbit into Medium Earth Orbit (MEO), Low Earth Orbit (LEO), and Geostationary Earth Orbit (GEO). Among these, the Low Earth Orbit (LEO) segment is expected to experience the highest growth, with a CAGR of over 15% during the forecast period. LEO is seeing an increase in the deployment of small satellites, including CubeSats and nanosatellites. These lightweight, cost-efficient satellites are ideal for Earth observation, scientific research, and communication. Their compact, modular design allows for more frequent launches, contributing to the growth of LEO satellite constellations. This shift is revolutionizing how space is utilized, enhancing global communication, and providing critical insights into environmental health.
The satellite manufacturing market is also segmented by end-use, with the commercial sector leading in market share, accounting for USD 14.2 billion in 2024. The growing reliance on satellite services across various industries is driving this growth. In particular, Earth observation is becoming essential in agriculture, environmental monitoring, and disaster management. Companies are increasingly using satellite data for precision farming, climate research, and environmental planning. Additionally, the demand for global internet connectivity is escalating, with private companies pushing to provide internet access in underserved regions. This demand is spurring the development of more advanced satellites with higher data transmission capabilities.

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North America held the largest market share in 2024, accounting for 48.4% of the global satellite manufacturing market. The region is witnessing a significant shift towards smaller satellites and advanced constellations, which are driving technological innovations and expanding satellite applications across multiple sectors.

Satellite Manufacturing Market Players

Companies including Airbus, BAE Systems, Beijing Smart Satellite, Blue Canyon Technologies, Boeing, Dhruva Space, EnduroSat, Indian Space Research Organisation, INVAP, Lockheed Martin, Maxar Technologies, Mitsubishi Electric, Northrop Grumman, OHB, Sierra Nevada, SpaceX, Telesat, Thales Alenia Space are some firms working in satellite manufacturing industry.

This satellite manufacturing market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue (USD million) from 2021 to 2034, for the following segments:

Market, By Orbit

• LEO (Low Earth Orbit)
• MEO (Medium Earth Orbit)
• GEO (Geostationary Earth Orbit)

Market, By Satellite Mass

• Less than 100 kg
• 100 -500 kg
• 500 -1000 kg
• Above 1000 kg

Market, Propulsion Technology

• Electric
• Gas-based
• Liquid fuel

Market, Application

• Earth observation
• Navigation
• Communication
• Others

Market, End Use

• Government
  • Military
  • Others
• Commercial

About Global Market Insights

Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.

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