The space sector holds huge potential for satellite manufacturers, launch companies, technical service providers, component providers, and investors. The manufacturers in space industry are focusing on developing low-cost small satellites and providing in-space services. Currently, the New Space industry is one of the most innovate industries comprising more than 1,000 companies, globally. Reusable launch vehicles, debris removal, space robots, small satellite constellation architecture, and other technologies have attracted numerous new investors into this industry.
The BIS Space Tech segment understands the changing dynamics of the market and continuously keeps track of the latest advancements taking place in the space industry. We offer insightful market intelligence reports covering a wide range of sectors including Satellites, Launch Vehicles, Deep Space, and Technologies in Space Market. The reports in space segment provide in-depth access for understanding latest developments in the industry, market data forecasts, new emerging technology trends, and other critical insights, to help clients with their strategic decision making.
The global space ground station equipment market analysis by BIS Research projects the market to grow at a significant CAGR of 4.32% by value and 3.81% by volume, during the forecast period from 2019 to 2024.
Military satellites have gained significance due to the rise in terrorist attacks and unconventional warfare. MUOS is the U.S.’s next generation communication satellite constellation. It has been primarily developed by Lockheed Martin for the U.S. military forces to provide improved and secured communication capabilities.
The small launch vehicle market is witnessing a high growth rate owing to increase in deployment of small satellites for commercial end users, surge in demand for small satellite constellations, and significant increase in investment of large space organization in developing small launch vehicles.
The demand for nano satellites is globally expected to increase during the forecast period due to advancements in satellite miniaturization, increasing capability of electronic technology, and ascending demand for small satellite constellations.