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The 3D Printing in Low-Cost Satellite Market is estimated to grow at a CAGR of 68.31% between 2022 and 2027, and the size of the market is forecasted to increase by USD 19,906.63 million. The growth of the market depends on several factors, including the rapid development and deployment of low-cost satellites, the rising demand for earth observation-related applications, and the growing demand for large-scale deployment of secure and reliable Internet services.
This report extensively covers market segmentation by application (aerospace and defense and scientific research), product (power system, framework, and antenna), and geography (North America, Europe, APAC, South America, and Middle East and Africa). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
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The report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global 3D Printing in Low-Cost Satellite Market Customer Landscape
Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The rapid development and deployment of low-cost satellites are driving market growth. Several countries have been focusing on innovative, cost-effective satellite launches. For instance, in December 2020, Indian Space Research Organization (ISRO) announced the launch of its first Indian startup passenger into space aboard the Polar Satellite Launch Vehicle (PSLV)-C51 in the first quarter of 2021. Similarly, NASA is expected to launch a suite of six small, next-generation satellites during the forecast period, which will provide necessary information and updates on hurricanes, energy requirements, and weather.
SpaceX has been working on the development of a fully reusable space launch vehicle that can be used for multiple satellite launch missions. This will reduce the cost of satellite launches drastically and provide new opportunities for low-cost satellite-based services. Thus, the rising development and deployment of low-cost satellites will increase the demand for 3D printing technology in order to produce lightweight and cost-efficient satellites, which, in turn, will boost the growth of the global 3D printing in low-cost satellite market during the forecast period.
The increasing use of advanced materials in the 3D printing of low-cost satellites is a key trend in the market. Additive manufacturing techniques enable the printing of satellite components using materials with specific properties. Advanced materials are being used in global 3D printing in the low-cost satellite market. Carbon-fiber composites are widely used in the aerospace industry due to their high-strength-to-weight ratio. 3D printing enables the use of advanced metal alloys, such as titanium and nickel-based superalloys. 3D printing techniques also enable the printing of complex ceramic components used in the satellite industry.
The use of these advanced materials in 3D printing is driving innovations in the low-cost satellite market. As a result, lighter, stronger, and more durable components are being produced. With continuous improvements in 3D printing technology, more advanced materials will be used in the 3D printing of satellite components. This will lead to more efficient and cost-effective satellite manufacturing. Therefore, the emergence of advanced materials in 3D printing will spur the growth of the market during the forecast period.
Scalability issues associated with 3D printing in low-cost satellite manufacturing are challenging market growth. 3D printing is a cost-effective technology for creating small and complex satellite components. However, it has limited scalability in large-scale or high-volume production. 3D printers are slow in producing large and complex satellite components. Low-cost satellite manufacturing requires the use of specific materials with characteristics such as toughness, low weight, and durability. However, some of these materials are not compatible with 3D printers, which reduces the number of materials that can be used.
Post-processing steps such as polishing, sanding, and painting of 3D-printed components take significant time and human resources. This process is manual and labor-intensive, which makes it difficult to scale to high-volume production. These issues will hamper the manufacturing of low-cost satellites using 3D printing technologies, which, in turn, will negatively impact the growth of the market during the forecast period.
Vendors are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
EOS GmbH - The company offers 3D printing in low-cost satellites such as single-piece 3D printed rocket engines. It also offers equipment, materials, and solutions in the field of laser sintering technology and an additive manufacturing method of 3D printing.
Stratasys Ltd. - The company offers 3D printing in low-cost satellites such as COSMIC-1. It also offers 3D printing systems, related services, and consumables and additive manufacturing solutions.
We also have detailed analyses of the market’s competitive landscape and offer information on various market vendors, including:
The report offers clients a deeper understanding of the market and its players through a combined qualitative and quantitative analysis of the vendors. The analysis classifies vendors into categories based on their business approach, including pure-play, category-focused, industry-focused, and diversified. Vendors are specially categorized into dominant, leading, strong, tentative, and weak to understand the dos and don’ts of business which in turn can help a client make the best decision.
The aerospace and defense segment will account for a significant share of market growth during the forecast period. The demand for low-cost satellites is increasing in the aerospace and defense sector due to the growing need for affordable and reliable satellite technology for various mission-critical applications.
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The aerospace and defense segment was valued at USD 242.49 million in 2017 and continued to grow until 2021. 3D printing offers various benefits in low-cost satellite and aerospace applications, such as the ability of the technology to create parts with complex geometries. It also enables manufacturers to produce parts on demand, thereby reducing lead times and streamlining supply chain processes. The use of 3D printing technology in low-cost satellite manufacturing provides the defense sector with the potential to produce customized solutions at a lower cost while maintaining quality and performance standards. Thus, the increasing demand for 3D-printed low-cost satellites in the aerospace and defense sector will drive the growth of the aerospace and defense segment during the forecast period.
The power system segment will account for a significant share of market growth during the forecast period. The power system is a crucial component that is responsible for generating, storing, and distributing power throughout the entire satellite. It typically consists of solar panels that convert sunlight into electrical power. The demand for 3D printing in the manufacturing of power systems in low-cost satellites is rising, as 3D printers can create complex, unique designs that have high accuracy and repeatability. Moreover, 3D printers can integrate several components into one single unit and reduce the overall weight of a low-cost satellite. Thus, the above-mentioned benefits of 3D printing in the manufacturing of power systems for low-cost satellites will drive the growth of the power system segment during the forecast period.
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North America is estimated to contribute 48% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends, drivers, and challenges that are expected to shape the market during the forecast period.
The US, Canada, and Mexico are the major markets for space-based programs in North America. These countries have advanced infrastructure and are involved in various space programs. Government agencies and companies in the US are developing new systems to meet the growing demand for satellites. In the US, the demand for low-cost satellites from the commercial sector has been increasing. The growing number of space missions is also expected to fuel the growth of the regional market. The US dominates the global demand for commercial low-cost satellite services. The use of satellites in commercial and civilian applications has also gained acceptance in the region. Many small and private technology providers are investing in the design and launch of low-cost satellites. Space agencies in the US have initiated several R&D projects and are investing in the development of advanced military satellites for communication and surveillance. Such developments are expected to create a demand for low-cost satellites during the forecast period, which, in turn, will boost the growth of the 3D printing in low-cost satellite market in North America during the forecast period.
The outbreak of COVID-19 in 2020 negatively impacted the growth of the global 3D printing in low-cost satellite market. However, the market started to recover in 2021 owing to the lifting of lockdown restrictions, the initiation of mass COVID-19 vaccination drives worldwide, and the restoration of supply chain operations. The benefits of 3D printing, such as cost-effectiveness, printing on-demand, and minimization of waste during production, are driving the growth of the market. Moreover, the growing number of aerospace activities and increasing investments in R&D of 3D technology are expected to fuel the growth of the global 3D printing in low-cost satellite market during the forecast period.
The 3D printing in low-cost satellite market report forecasts market growth by revenue at global, regional, and country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
3D Printing In Low-Cost Satellite Market Scope |
|
Report Coverage |
Details |
Page number |
151 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 68.31% |
Market growth 2023-2027 |
USD 19,906.63 million |
Market structure |
Concentrated |
YoY growth 2022-2023(%) |
57.25 |
Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
Performing market contribution |
North America at 48% |
Key countries |
US, China, Japan, UK, and Germany |
Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
Key companies profiled |
Aerojet Rocketdyne Holdings Inc., Airbus SE, The Boeing Co., EOS GmbH, Lockheed Martin Corp., and Stratasys Ltd. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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