In an optimistic scenario, the market is evaluated at a valuation of $66.3 million in 2024 and is projected to expand at a CAGR of 7.41% to reach $135.5. million by 2034.
The Europe satellite messenger market is estimated to reach $1,114.9 million by 2033 from $308.9 million in 2023, at a growth rate of 13.69% during the forecast period 2023-2033.
By 2024, the market is estimated to be valued at $32.16 billion, with a projected compound annual growth rate (CAGR) of 13.86% to reach $117.75 billion by 2034.
Considering the optimistic scenario the market is valued at $123.2 million in 2024 and is expected to grow at a CAGR of 24.60% to reach $1,111.0 million by 2034.
The global satellite flat panel antenna market was valued at $7.28 billion in 2023 and is expected to reach $32.95 billion by 2034, growing at a CAGR of 15.04% during the forecast period 2024-2034.
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The global maritime satellite market is estimated to reach $10,882.6 million by 2033 from $4,327.3 million in 2023, growing at a CAGR of 9.66% during the forecast period 2023-2033.
In 2023, the global space-qualified propellant tank market was valued at $1,754.5 million and is expected to reach $3,431.8 million by the end of 2033, growing at a CAGR of 6.94% during the forecast period 2023-2033.
The Asia-Pacific satellite and spacecraft subsystem market based on satellite subsystem is estimated to reach $6,323.8 million by 2033 from $3,129.6 million in 2023, at a growth rate of 7.29% during the forecast period 2023-2033
The Asia-Pacific position, navigation, and timing (PNT) solution (satellite) market is estimated to reach $1,410.5 million by 2033 from $466.1 million in 2023, at a CAGR of 11.71% during the forecast period 2023-2033.
The Asia-Pacific satellite spectrum monitoring market is estimated to reach $1,618.1 million by 2033 from $711.0 million in 2023, at a growth rate of 8.57% during the forecast period 2023-2033.
The Asia-Pacific satellite flat panel antenna market is estimated to reach $5.09 billion by 2033 from $1.31 billion in 2023, at a CAGR of 14.57% during the forecast period 2023-2033.
The Asia-Pacific space carbon fiber composite market was valued at $91.1 million in 2023 and is projected to reach $351.0 million by 2033.
The Europe position, navigation, and timing (PNT) solution (satellite) market is estimated to reach $1,343.7 million by 2033 from $494.6 million in 2023, at a CAGR of 10.51% during the forecast period 2023-2033.
The Asia-Pacific Cislunar Infrastructure Market is estimated to reach $2.49 billion by 2033 from $0.81 billion in 2023, at a growth rate of 11.96% during the forecast period 2023-2033.
The Europe satellite flat panel antenna market is estimated to reach $8.57 billion by 2033 from $2.20 billion in 2023, at a CAGR of 14.59% during the forecast period 2023-2033.
The Europe satellite spectrum monitoring market is estimated to reach $2.05 billion by 2033 from $0.89 billion in 2023, at a growth rate of 8.68% during the forecast period 2023-2033.
The Europe space carbon fiber composite market was valued at $124.6 million in 2023 and is projected to reach $487.1 million by 2033.
The Europe space-based edge computing market is estimated to reach $386.8 million by 2033 from $47.5 million in 2023, at a CAGR of 23.34% during the forecast period 2023-2033.
The global satellite messenger market is estimated to reach $2,858.7 million by 2033 from $830.9 million in 2023, at a growth rate of 13.15% during the forecast period 2023-2033.
The Europe satellite and spacecraft subsystem market based on satellite subsystem is estimated to reach $12.06 billion by 2033 from $2.59 billion in 2022, at a growth rate of 6.78% during the forecast period 2023-2033.
The global large satellite propulsion and AOCS subsystem market is estimated to reach $4.41 billion in 2033 from $1.71 billion in 2022, at a growth rate of 2.66% during the forecast period 2023-2033.
The Europe cislunar infrastructure market is estimated to reach $5.01 billion by 2033 from $1.19 billion in 2022, at a growth rate of 12.80% during the forecast period 2023-2033.
The Europe sub-orbital testing services market is estimated to reach $30.7 million by 2032 from $16.4 million in 2022, at a CAGR of 6.48% during the forecast period 2022-2032.
The Asia-Pacific space-based edge computing market is estimated to reach $181.8 million in 2033 from $20.1 million in 2022, at a CAGR of 22.74% during the forecast period 2023-2033.
The Europe Space-based Laser communication market is expected to grow at a CAGR of 10.55% from 253.9 million in 2022 to 1,313.3 million by 2033.
The Asia-Pacific (APAC) Advanced Space Composites Market is expected to grow by CAGR: 12.38% from 0.26 billion in 2022 to 0.95 billion in the forecasted period of 2023-2033.
The U.S. geospatial imagery analytics market is estimated to reach $8.38 billion in 2033 from $6.04 billion in 2022, at a growth rate of 3.19% during the forecast period 2023-2033.
The global space-based laser communication market is estimated to reach $10.72 billion in 2033 from $1.56 billion in 2022, at a growth rate of 13.43% during the forecast period 2023-2033.
The global satellite 5G NR market is estimated to reach $14.47 billion in 2033 from $4.58 billion in 2022, at a growth rate of 11.92% during the forecast period 2023-2033.
The global advanced space composites market is projected to reach $4.61 billion by 2033 from $1.31 billion in 2022, growing at a CAGR of 12.11% during the forecast period 2023-2033.
The global satellite and spacecraft subsystem market based on satellite subsystem is estimated to reach $54.55 billion in 2033 from $29.43 billion in 2022, at a growth rate of 4.11% during the forecast period 2023-2033.
The global cislunar infrastructure market is estimated to reach $14.64 billion in 2033 from $3.77 billion in 2022, at a growth rate of 11.94% during the forecast period 2023-2033.
The global position, navigation, and timing (PNT) solution (satellite) market is estimated to reach $5.24 billion in 2033 from $1.23 billion in 2022, at a CAGR of 10.85% during the forecast period 2023-2033.
The global satellite flat panel antenna market is estimated to reach $24.31 billion in 2033 from $5.63 billion in 2022, at a CAGR of 14.49% during the forecast period 2023-2033.
The global satellite spectrum monitoring market is estimated to reach $8.38 billion in 2033 from $3.34 billion in 2022, at a growth rate of 8.78% during the forecast period 2023-2033.
The space carbon fiber composite market was valued at $393.6 million in 2022 and is projected to reach $1,679.7 million by 2033.
The global space-based edge computing market is estimated to reach $1,807.3 million in 2033 from $200.9 million in 2022, at a CAGR of 22.64% during the forecast period 2023-2033.
The global satellite-based IoT service market was valued at $279.7 million in 2022, and it is expected to grow with a CAGR of 2.76% and reach $372.6 million by 2033.
The global sub-orbital testing services market is estimated to reach $178.1 million in 2032 from $122.4 million in 2022, at a CAGR of 3.82% during the forecast period 2022-2032.
The global satellite-based cloud computing market is estimated to reach $472.6 million in 2032 from $368.3 million in 2022, at a growth rate of 2.53% during the forecast period 2022-2032.
The global space-based fuel management system market is estimated to reach $45,124.1 million in 2032 from $22,229.5 million in 2021, at a growth rate of 1.58% during the forecast period 2022-2032.
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 global medium and heavy-lift launch vehicle market is estimated to reach $9.75 billion in 2032 from $6.45 billion in 2021, at a growth rate of 3.90% during the forecast period 2022-2032.
The global geospatial imagery analytics market is estimated to reach $32.78 billion in 2032 from $24.25 billion in 2021, at a growth rate of 2.90% during the forecast period 2022-2032.
The global satellite electric propulsion market is estimated to reach $1,027.3 million in 2032 from $522.3 million in 2021, at a growth rate of 4.10% during the forecast period 2022-2032.
The global space in-orbit refueling market is estimated to reach $1,090.8 million by 2032 at a CAGR of 103.85% during the forecast period 2022-2032 (CAGR:2026-2032).
The global satellite commercial-off-the-shelf components market is estimated to reach $4.12 billion in 2032 from $1.93 billion in 2021, at a growth rate of 1.21% during the forecast period 2022-2032.
The global space situational awareness services market was valued at $125.2 million in 2021, which is expected to grow with a CAGR of 3.3% during the forecast period 2022-2032 and reach $172.7 million by 2032.
The global space power supply market is estimated to reach $5,174.6 million in 2032 from $2,624.6 million in 2021, at a growth rate of 1.66% during the forecast period 2022-2032.
The global 5G satellite communication market was valued at $2,708.3 million in 2021 and it is estimated to reach $43,215.4 million by 2032, at a CAGR of 28.12% during the forecast period 2022-2032.
The global small launch vehicle (SLV) market is expected to reach $4,624.0 million by 2032, with a CAGR of 13.34% during the forecast period 2022-2032.
The global satellite spectrum monitoring market is estimated to reach $5.14 billion in 2031 from $2.55 billion in 2021, at a growth rate of 7.24% during the forecast period.
The global satellite Earth observation data and value-added services market is expected to reach $15,903.0 million by 2032, with a CAGR of 6.92% during the forecast period 2022-2032.
The global satellite position, navigation, and timing (PNT) technology market is valued at $961.7 million in 2020 and it is estimated to reach $8,817.3 million by 2031, at a compound annual growth rate (CAGR) of 22.45% during the forecast period 2021-2031.
The global commercial space payload market is expected to reach $56.32 billion by 2031, with a CAGR of 5.51% during the forecast period 2021-2031.
The global satellite flat panel antenna market is estimated to reach $18.39 billion in 2031, growing at a compound annual growth rate (CAGR) of 16.63% during the forecast period 2021-2031.
The global space-qualified propellant tank market is expected to reach $3,069.5 million by 2031, with a CAGR of 4.83% during the forecast period 2021-2031.
The global sub-orbital space tourism market is estimated to reach $396.6 million in 2031, at a compound annual growth rate (CAGR) of 24.46% during the forecast period 2021-2031.
The global space-based broadband internet market is estimated to reach $52,330.8 million in 2031, at a compound annual growth rate (CAGR) of 20.64% during the forecast period 2021-2031.
The global LEO-focused satellite propulsion technology market is expected to reach $13,212.7 by 2031, with a CAGR of 6.98% during the forecast period 2021- 2031.
The global advanced space composites market was valued at $845.7 million in 2020 and is projected to reach $2,881.9 million by 2031 at a CAGR of 11.94%.
The global sub-orbital reusable vehicle (SRV) market is estimated to reach $1.86 billion in 2031, at a compound annual growth rate (CAGR) of 16.89% during the forecast period 2021-2031.
The global hybrid-satellite cellular terminal market is expected to reach $696.4 million by 2031, with a CAGR of 22.81% during the forecast period 2021-2031.
The global satellite command and control system market is estimated to reach $32.15 billion in 2031, at a compound annual growth rate (CAGR) of 4.32% during the forecast period 2021-2031.
The global sub-orbital transportation and space tourism market is estimated to reach $2.58 billion in 2031, at a compound annual growth rate (CAGR) of 17.15% during the forecast period 2021-2031.
The global space-based RF & microwave technology market is estimated to reach $14,015.8 million in 2031, at a compound annual growth rate (CAGR) of 7.26% during the forecast period 2021-2031.
The global space-based laser communication market is expected to reach $4,107.1 million by 2031, with a CAGR of 26.98% during the forecast period 2021- 2031.
The global sky-based communication market analysis by BIS Research projects the market to grow at a significant CAGR of 25.53% on the basis of value during the forecast period from 2021 to 2031.
The space-based smart sensors and electronics industry analysis by BIS Research projects the market to have significant growth of CAGR 4.85% during the forecast period 2021-2026.
The satellite connectivity industry analysis by BIS Research projects the market to have significant growth of CAGR of 13.09% based on the values during the forecast period from 2020 to 2027.
The global space power supply market to have a significant growth with a CAGR of 16.53% based on the values during the forecast period from 2020 to 2030.
The nanosatellite and microsatellite industry analysis by BIS Research projects the market to have a significant growth of CAGR 24.86% based on the values during the forecast period from 2020 to 2026.
The Strategic Assessment of Launch Vehicle Payload Market report by BIS Research projects the market to grow at a CAGR of 21.10% based on launches during the forecast period 2017 to 2028.
The active space debris removal industry analysis by BIS Research projects the market to have a significant growth of CAGR 27.66% based on the values during the forecast period from 2020 to 2030.
The in-space manufacturing, servicing, and transportation industry analysis by BIS Research projects the market to grow at a significant CAGR of 17.26% on the basis of value during the forecast period from 2020 to 2030.
The global space propulsion system market was valued at $12,496.1 Million in 2020 and is expected to reach $21,791.9 Million by 2025, growing at a CAGR of 11.76% during the forecast period 2020-2025.
The global counterspace security market to grow at a CAGR of 9.33% during the forecast period from 2020 to 2025.
The Global Small Launch Vehicle (SLV) Market report by BIS Research projects the market to grow at a significant CAGR of 24.36% on the basis of value during the forecast period from 2020 to 2030.
The Global Geospatial Imagery Analytics Market report by BIS Research projects the market to grow at a CAGR of 15.80% on the basis of value during the forecast period from 2020 to 2025.
The Global 5G Satellite Communication Market report by BIS Research projects the market is expected to grow at a significant CAGR of 28.91% on the basis of value during the forecast period from 2021 to 2030.
The Global Deep Space Exploration and Technology Market report by BIS Research projects the market to grow at a CAGR of 6.42% on the basis of value during the forecast period from 2020 to 2030.
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.
The software-defined satellite market analysis by BIS Research projects the market to grow at a significant CAGR of 14.81% by value and 14.85% by volume, during the forecast period from 2019 to 2030.
The small satellite market to grow at a significant CAGR of 14.15% by value and 14.28% by volume, during the forecast period from 2019 to 2030.
The global space electronics industry analysis by BIS Research highlights that the market generated $1.27 billion in 2018 and is expected to grow at a CAGR of 5.22% during 2019-2024.
The global earth observation satellite, data and service market generated $7.17 billion in 2018 and is estimated to grow at a CAGR of 9.10% during 2018-2023.
The global space propulsion system market generated $5.63 billion in 2018 and is estimated to grow at a CAGR of 13.06% during 2018-2023.
The global launch system payload market recorded 390 satellite launches in 2017, with more number of small satellite launches in the forecast period.
According to BIS Research analysis, the global small launch vehicle market generated $341.2 million in 2017 and is estimated to grow at a CAGR of 30.51% during 2018-2028.
The global nano satellite market generated $143.7 million in 2017 and is estimated to grow at a CAGR of 13.43% during 2018-2023.
The global satellite M2M and IoT network market generated $617.3 million in 2017 and is estimated to grow at a CAGR of 32.58% during 2018-2023.
The global free space optics communication technology market generated $229.2 million in 2017 and is estimated to grow at a CAGR of 33.49% during 2018-2023.
Global high-throughput satellite market (capacity revenue) generated a revenue of $3,466 million in 2017, with broadband application holding the highest share.
The CubeSat market reported a revenue of $363.8 million in 2017, and the commercial end user is expected to generate the highest revenue by 2022.
The small satellites market reported a revenue of $2,528.1 million in 2016, and the government end user is expected to generate the highest revenue by 2021.
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.
The maritime antenna market is witnessing robust growth, driven by the increasing recognition of its benefits, safety imperatives, and technological advancements, all supported by the proactive efforts of industry leaders to deliver innovative solutions.
The Europe advanced space composites market is estimated to reach $1.38 billion by 2033 from $0.36 billion in 2022, at a CAGR of 13.09% during the forecast period 2023-2033.
The global satellite-to-phone solution market has seen major development by key players operating in the market, such as business expansion, partnership, and joint venture.
The global satellite flat panel antenna market is estimated to reach $24.31 billion in 2033 from $5.63 billion in 2022, at a CAGR of 14.49% during the forecast period 2023-2033.
The global satellite spectrum monitoring market is estimated to reach $5.14 billion in 2031 from $2.55 billion in 2021, at a growth rate of 7.24% during the forecast period.
The global satellite position, navigation, and timing (PNT) technology market is valued at $961.7 million in 2020 and it is estimated to reach $8,817.3 million by 2031, at a compound annual growth rate (CAGR) of 22.45% during the forecast period 2021-2031.
The global satellite flat panel antenna market is estimated to reach $18.39 billion in 2031, growing at a compound annual growth rate (CAGR) of 16.63% during the forecast period 2021-2031.
The global space-qualified propellant tank market is expected to reach $3,069.5 million by 2031, with a CAGR of 4.83% during the forecast period 2021-2031.
The global advanced space composites market was valued at $845.7 million in 2020 and is projected to reach $2,881.9 million by 2031 at a CAGR of 11.94%.
The global space-based laser communication market is expected to reach $4,107.1 million by 2031, with a CAGR of 26.98% during the forecast period 2021- 2031.
The global space power supply market to have a significant growth with a CAGR of 16.53% based on the values during the forecast period from 2020 to 2030.
The Global Small Launch Vehicle (SLV) Market report by BIS Research projects the market to grow at a significant CAGR of 24.36% on the basis of value during the forecast period from 2020 to 2030.
The Global Geospatial Imagery Analytics Market report by BIS Research projects the market to grow at a CAGR of 15.80% on the basis of value during the forecast period from 2020 to 2025.
The global advanced space composites market was valued at $845.7 million in 2020 and is projected to reach $2,881.9 million by 2031 at a CAGR of 11.94%.
The global space-qualified propellant tank market is expected to reach $3,069.5 million by 2031, with a CAGR of 4.83% during the forecast period 2021-2031.
The global satellite flat panel antenna market is estimated to reach $18.39 billion in 2031, growing at a compound annual growth rate (CAGR) of 16.63% during the forecast period 2021-2031.
The global satellite position, navigation, and timing (PNT) technology market is valued at $961.7 million in 2020 and it is estimated to reach $8,817.3 million by 2031, at a compound annual growth rate (CAGR) of 22.45% during the forecast period 2021-2031.
The global satellite spectrum monitoring market is estimated to reach $5.14 billion in 2031 from $2.55 billion in 2021, at a growth rate of 7.24% during the forecast period.
The global satellite flat panel antenna market is estimated to reach $24.31 billion in 2033 from $5.63 billion in 2022, at a CAGR of 14.49% during the forecast period 2023-2033.
SpaceTech
Spacetech Market and Industry overview
The space tech market is a rapidly evolving industry that encompasses various technologies and applications related to space exploration, satellite communication, and space-based services. This industry includes companies involved in satellite manufacturing and launch, space tourism, remote sensing, and space-based navigation systems. The market is driven by factors such as growing investments in space exploration, increasing demand for satellite communication, and advancements in satellite technology. Key players in the space tech industry include aerospace and defense companies, satellite operators, and startups. The industry is expected to witness significant growth in the coming years, driven by increasing government and private sector interest in space exploration and the growing commercialization of space-based services.
Satellite Manufacturing & Services – The space industry has witnessed tremendous change in the past few years, with market participants increasing their satellite (and related subsystems) manufacturing capacities to cater to the increasing demand for satellite-based downstream services. At BIS Research, several key areas within this industry, such as satellite and related subsystems manufacturing, are covered. Besides this, the downstream services across communication, Earth observation, and navigation are also covered in relevant segments. Additionally, we have built a satellite manufacturing market model (satellite database) that covers all major subsystems and components. This model has been built over the satellite launch forecast, which gets updated quarterly.
BIS Research is investigating various aspects of the satellite manufacturing and services market to provide relevant market intelligence that can enable financial and strategic decision-making.
Launch Vehicle Manufacturing & Services – The rise in satellite activities have also propelled the launch industry to develop and provide dedicated launch services. At BIS Research, we have covered several areas, such as small launch vehicles, medium and heavy-lift launch vehicles, and space propulsion and related solution providers. We have built a launch vehicle manufacturing market model (launch vehicle database) covering all launch vehicles (operational and under-development), their major subsystems, and components. This database serves as the supply forecast for the launch services market. As for the services segment, we have built it over the satellite launch forecast, which is updated every quarter.
BIS Research’s SpaceTech domain covers all markets in the space industry, building multiple reconfigurable market models, which get updated on a regular basis, thereby resulting in the availability of the latest data every quarter. We continuously monitor the markets covered and have a dedicated focus on emerging markets as well as NewSpace participants, which not only helps our clients understand the existing market but also helps them gauge the demand in future markets. We ensure that potential impact and probability of occurrence are equally captured, so our market insights help our clients with robust financial decision-making.
Our customer base expands across several sections, including small enterprises, medium-scale operations, Fortune 50 companies, government organizations, venture capitalists, and deemed universities.
The space industry is expected to grow significantly in the upcoming years, owing to the continuous development within the space sector. BIS Research is continuously monitoring ongoing and latest space industry developments. If you do not find a report of your choice in the above-mentioned list, please feel free to contact us so that we can look at customizing one for you.
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