Overview of the global commercial satellite imaging market
According to Technavio’s analysts, the global commercial satellite imaging market is anticipated to grow rapidly and post a CAGR of more than 11% during the forecast period. The growing application of satellite imaging in geological research sector will drive the growth prospects for the commercial satellite imaging market for the next four years. Satellite imaging in geological research is necessary to identify roads, inhabited regions, forests, and unearth several natural and human-made foundations. For instance, the lifting of the seabed of Kaikoura coastal region revealed a large land that was an ancient city of the country. The unearthed natural and human-made land can be marketed as a tourist destination, developed into a new city, or used as a trade port or sea dock, which, in turn, improves the economic conditions of an economy. The live satellite images are also used for telemetry applications to determine the location of the transmitter on the ground by tracking the movement of targets on earth. Some of the major applications of satellite telemetry are witnessed in various sectors such as civil, commercial, government, and military units.
The growing application of satellite imaging in disaster management will drive the growth prospects for the commercial satellite imaging market during the forecasted period. Since earth observation satellites that use satellite imaging transmit data in the form of images to the scientists and meteorologists, it will help disaster relief teams to devise better strategies for the provision of relief and help nations to prepare for disasters
Overview of the global nano and microsatellite market
Technavio’s market research analyst predicts the global nano and microsatellite market to grow tremendously at an impressive CAGR of around 23% by 2020. The nano and microsatellites segment are one the fastest growing segments of the global satellite industry. The growing use of nano and microsatellites for military and defense applications is one of the major growth drivers for this market. The military forces have started to use commercial satellite infrastructure to meet their requirement of increased bandwidth for real-time flight and surveillance data. Such surging requirements have propelled the growth of the nano and microsatellite market, as large constellations of these satellites can be launched at lower costs while offering the desired services. Nano and microsatellites provide high visibility for confronting tactical enemy operations. Moreover, the rapid access to near-real-time information and imagery can augment the process of aerial reconnaissance. These satellites have proved to be an important resource supplementing the requirement of modern military forces which operate under extreme environmental and time constraints.
In terms of geographical analysis, EMEA is the largest revenue contributing region in the market and will continue its dominance over the forecast period. Europe is the largest satellite telecommunications market in the region. The satellite segment in EMEA has been witnessing constant innovations in sectors like signal transmission and the use of new frequencies, which has resulted in the requirement of new services and maintenance. Such developments make the use of
Global outlook of the satellite manufacturing and launch market
Technavio’s market research analyst predicts the global satellite manufacturing and launch market to grow at a CAGR of almost 5% between 2016 and 2020. The growing use of satellites during extreme weather conditions and warfare situations have led to their increased utilization in maritime surveillance and border protection. This increase in its usage has resulted in the development of innovative image-enhancing equipment like advanced remote-sensing technology and high-resolution cameras to improve the quality of satellite-based earth observation images. One of the latest developments in this market is the development of nano and microsatellites as these are comparatively less expensive to manufacture and launch. These satellites are launched in large constellations at relatively low costs while providing the same required services. Moreover, the growing demand for military satellites for better satellite communication will further boost the growth prospects for this market in the coming years.
Satellite launches are mostly done using expendable launch vehicles that carry a payload to the orbit, and can be used only once. However, the manufacturers are increasingly developing reusable space launch vehicles instead of expendable launch systems (ELVs). Such systems reuse space launch vehicles and can substantially minimize the cost of access to space if the rockets are effectively used for multiple missions. Companies such as SpaceX are developing reusable space launch vehicles that can re-enter the earth
Outlook of the global military satellite market
Technavio’s market research analyst predicts the global military satellite market to grow at a CAGR of approximately 5% by 2020. With the changing techniques of modern warfare, arm and law enforcement agencies are expected to upgrade and implement the use of satellites to communicate with the unmanned aerial vehicles (UAVs). Satellite communication (SATCOM) acts as a bridge for communication between various forces and national command authorities. The ability of modern SATCOM devices to enable high-quality information exchange in remote and vast areas, even in the absence of local communication infrastructure, will lead to its augmented utilization during the forecast period. Furthermore, the ability of military satellites to allow the real-time transmission of images and videos and voice communication will result in the strong growth of the market until the end of 2020.
The product innovations in this market are expected to boost the market growth until 2020. Vendors are constantly innovating in formulations and are even inventing new ways to offer better solutions to the defense industries. For instance, with the implementation of small satellites, military troops can utilize navigation and communication facilities effectively. These satellites are ten times cheaper and faster than legacy satellites and are made with the help of COTS technology.
Geographical segmentation of the military satellite market
In 2015, the Americas was the largest market for military satellites. Factors such as the growing need for ISR capabilities, protection from various weapons using electronic countermeasures, and the rising need for improvements in lethal attacks against extremists will
Outlook of the global remote sensing satellite market
Technavio’s market research analyst predicts the global remote sensing satellite market to grow at a CAGR of approximately 5% until 2020. Satellite communication (SATCOM) has become a vital mode of communication for soldiers and operators under hazardous conditions in the border, the middle of the sea, or any inaccessible areas. Due to its advantages, global defense authorities are developing advanced and sophisticated systems and technologies to strengthen their military capabilities. The ability of these remote-sensing satellites to capture superior satellite-based earth observation images and to help users by allowing them to acquire electro-optical data from new and existing databases will result in its augmented utilization in the public and private sectors during the forecast period.
Segmentation by systems and analysis of the remote sensing satellite market
This market research report predicts the EO/IR market segment to reach close to USD 4 billion by 2020. The EO/IR systems are rapidly gaining popularity and are extensively being used by defense forces in their existing and upcoming platforms. The rising implementation of EO/IR systems in unmanned aerial systems will lead to the growth of this market segment during the forecast period.
Geographical segmentation of the remote sensing satellite market
The market in APAC is predicted to grow at a CAGR of approximately 7% during the predicted period. Since APAC’s defense budget is rapidly increasing, it will observe aggressive investments to enhance and strengthen its defense technologies. Furthermore, factors such as the recent
Outlook of the satellite manufacturing and launch market
The growing utilization of satellites for military surveillance and other defense applications has been pushing market growth. Along with the growing use of UAVs and modern equipment, the market is also experiencing a rise in the demand for data bandwidth and reliable communications infrastructure.
Over the years, the use of satellites for commercial applications such as GPS and the internet has significantly increased. The demand for satellite-based telemetry applications also contributes to the growth of this market. The market is buoyant on the introduction of all-electric propulsion systems for satellites and reusable space launch vehicles. As more vendor look to invest and leverage on new satellite technologies, the market is expected to grow at a CAGR of more than 5% over the next four years.
Key drivers: Low-cost solutions through nano and micro satellites
The satellite manufacturing and launch equipment market is eager to introduce new capabilities through nano microsatellites. A key advantage that microsatellites offer over their conventionally larger counterparts is an economical launch cost.
The manufacture of these smaller satellites has also reduced the manufacturing timeline. Furthermore, they can also be constructed using existing hardware and software technologies available. Rocket Lab has created a rocket called electron, which is not only expected to cut the time required to launch satellites but also promises to reduce launch costs by 95%.
With such developments, the nano and microsatellite segment is slated to capture the entire canvas of low-cost solutions in applications ranging from weather forecasting to internet services.
Spacecraft are used for a variety of purposes, including Earth observation, communications, meteorology, space colonization, and transportation of people and cargo.
Spacecraft can be further classified into manned, flyby, orbiter and lander spacecraft, as well as atmospheric probes, balloon package, surface rovers, and surface penetrators.
Data handling is done through onboard computers responsible for overall management of a spacecraft’s activity. This is generally the same system that maintains timing; interprets commands from Earth; collects, processes, and formats telemetry data; and manages high-level fault protection.