Published Year: 2022
Space In-Orbit Refueling Market - A Global and Regional Analysis: Focus on Application, End User, Ca
The global space in-orbit refueling market is estimated to reach $1,090.8 million by 2032 at a...
Market Research Report
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Industry and Technology Overview
Global Satellite Docking System Market Overview
The global satellite docking system market is estimated to reach $1,011.34 million in 2032 from $40.3 million in 2021, at a growth rate of 31.3% during the forecast period 2022-2032. The growth in the global satellite docking system market is expected to be driven by the enforcement of regulations on space sustainability and increase in in-orbit services.
Market Lifecycle Stage
Over the past few years, trends in the number of satellites launched by commercial satellite operators have been increasing drastically. As per the BIS Research space database, the global satellite launch forecast estimates 45,131 satellites to be launched within the 2022-2032 timeline. Out of these 45,131 satellites, 95% of satellites are expected to operate in low Earth orbit (LEO). This indicates that over 95% of the satellites are expected to operate in one orbital segment leading to a growing state of congestion, which further adds to the risk perception of collision and space debris concerns.
In addition, commercial satellite operators are opting for the life extension program to keep their existing satellites alive in space for longer periods. This will help them to reduce the satellite operation cost and increase their revenue with the existing satellite. Furthermore, it helps to remove the active space debris to keep the space debris-free and sustainable and reduce the risk of collision. Given the circumstance, the need for a satellite docking system is very high at this point, and the same is expected to persist as well.
Global Satellite Docking System Market, $Million, 2021-2032
Impact
The global satellite docking system market is observing rising investment across all the satellite platforms, which drives the investments across the docking system technology. The major challenge in developing the satellite docking system is there is no standardization in design and mechanism among the satellite docking manufacturers. This leads the developer to integrate their own satellite docking system in their in-orbit service vehicle, which will create incompatibility with the docking system that is integrated with the target satellites. In addition, different small satellite operators are building different types of satellites. Although many satellites use standardized satellite platforms, they are customized products with unique configurations. Therefore, their docking solution requirement will also vary from operator to operator. This will create a need for a variety of satellite docking solutions both for target satellites and service satellites.
Market Segmentation
Segmentation 1: by Service Type
• Refueling
• Inspection, Repair, and Replacement
• De-Orbiting
Based on service type, the satellite docking system market is expected to be dominated by the refueling service satellite during the forecast period.
Segmentation 2: by End User
• Commercial
• Civil Government
• Military
• Deep Space
Based on end user, the global satellite docking system market is expected to be dominated by commercial end users.
Segmentation 3: by Spacecraft Type
• Target Satellites
• Service Satellites
Segmentation 4: by Region
• North America
• Europe
• Rest-of-the-World
North America is expected to account for the highest share of 78% in the satellite docking system market by value in 2021, owing to a significant number of companies based in the region.
Recent Developments in the Global Satellite Docking System Market
• In November 2022, Starfish Space announced that its Otter Pup satellite with high-performance low-thrust electric propulsion, which includes a satellite docking system, is planned to launch in the spring of 2023 to dock with another satellite in the fall of 2023.
• In October 2022, High Earth Orbit (HEO) Robotics collaborated with Satellogic to integrate Satellogic’s growing satellite constellation and high-resolution satellite imagery with HEO’s flyby inspection and computer-vision capabilities.
• In September 2022, Astroscale Holdings, Inc. received funding of $1.79 million from the U.K. Space Agency to develop technologies and capabilities for Cleaning Outer Space Mission through Innovative Capture, which consists of Astroscale's robotic debris capture capabilities and rendezvous and proximity operations to remove space debris and defunct satellites.
• In May 2022, Momentus Inc. signed a partnership with SpaceX for the integration of its Vigoride Orbital Transfer Vehicle and customer payloads on Falcon 9, which would be used for the transporter-5 mission.
• In April 2022, Lockheed Martin Corporation released an open-source Augmentation System Port Interface (ASPIN), a non-proprietary interface standard to support on-orbit servicing and mission augmentation. It uses Mission Augmentation Port (MAP) interface standard online that provides a mechanical interface design for docking spacecraft to one another.
• In March 2022, Rogue Space Systems Corporation announced that Seldor Capital is their first institutional investor, which helps the company to scale up its engineering and operations teams.
• In November 2021, Astroscale Holdings, Inc. launched a universal docking device for spacecraft, "Docking Plate," to capture and de-orbit the defunct satellite.
• In September 2021, Starfish Space secured an investment of about $7 million from NFX and MaC Venture Capital along with PSL Ventures, Boost VC, Liquid2 Ventures, and Hypothesis.
• In September 2021, Orbit Fab, Inc. launched its first propellant tanker to geostationary orbit, which has been designed for refueling the largest space assets and for the harshest orbital regimes.
Demand - Drivers and Limitations
Following are the drivers for the global satellite docking system market:
• Growing Demand for Sustainable Space Operations
• Growing Demand for Optimizing Satellite Operation Cost
Following are the challenges for the global satellite docking system market:
• Lack of Industry Wide Standardization of Docking Solutions
• Reduction in Manufacturing and Launch Costs Impacting the Financial Viability of In-Orbit Services
Following are the opportunities for the global satellite docking system market:
• Opportunity for Software Solution for Rendezvous/Proximity Operations
• Evolution of Standardized Satellite Platform
• Enabling Capabilities for Rendezvous/Proximity Operations
Analyst Perspective
According to Nilopal Ojha, Principal Analyst, BIS Research, “The in-orbit refueling services have started few life-extension missions with the help of external propulsion that supports the existing satellite. While the life-extension services have gained traction for the non-cooperative satellite, most satellite manufacturers and operators are looking for more cooperative satellites so that they can be easily refueled in space. With the increasing satellite constellations, companies are expecting more cooperative satellites that can be refueled and get more return on their investment. Since the deployment of refueling, compatible hardware is yet to be deployed across missions. Moving forward, with such hardware being included as part of satellite platforms, the satellite docking system is expected to have huge potential in the coming years. The satellite docking system market will also be driven by startups that are focused on establishing unique use cases to support a range of applications covering Earth-orbit to deep space missions."
Satellite Docking System Market - A Global and Regional Analysis
Focus on Service Type, End User, Spacecraft Type, and Country - Analysis and Forecast, 2022-2032
Some Faq's
Frequently Asked Questions
Satellite docking system is a mechanical or electromagnetic device that is integrated with the service satellite and target satellite to dock and undock each other to provide safe and secure in-orbit services and to attach a life extension vehicle or pod.
The key trends in the global satellite docking system market include satellite docking system manufacturers and enabling capabilities. Companies such as Astroscale Holdings, Inc., Orbit Fab, Inc., and Altius Space Machine have various product options to provide comprehensive satellite docking system. This system can be used for the upcoming in-orbit service mission such as refueling and de-orbiting
The global satellite docking system market has seen major development by key players operating in the market, such as business expansion activities, investments, contracts, partnerships, collaborations, mergers, and agreements. According to BIS Research, the majority of the companies preferred collaborations, contracts, and agreements as strategies to further increase their growth in the global satellite docking system market. Companies such as Astroscale Holdings, Inc., Maxar Technologies, Momentus Inc., Orbit Fab, Inc., and ClearSpace have majorly adopted partnership, contract, collaboration, and agreement strategies.
There is an increasing demand for in-orbit refueling, life extension mission, and de-orbiting space debris. Hence, the new entrants can focus on amplifying the satellite docking system with robotic arms or electromagnetic attachment devices to dock with the target satellite safely and refuel it.
The following can be seen as some of the USPs of the report:
· A dedicated section focusing on various service types adopted by the key players operating in the global satellite docking system market
· A dedicated section on growth opportunities and recommendations
· A qualitative and quantitative analysis of the satellite docking system at the regional level, and also the analysis of service type, end user, and spacecraft type
Companies that manufacture and provide satellite docking systems, and also the companies such as satellite manufacturers, in-orbit refueling service providers, and de-orbiting and other in-orbit service providers, should buy this report.
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