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. North America is expected to dominate the market in 2030 with a share of 45.57%. The North America region includes the U.S. and Canada. The U.S. is expected to acquire a major share in 2030 due to the increase in the investment and strategic developments of companies in the country.
The technological development and feasibility of on-orbit servicing, repair, inspection, and assembly have already been witnessed in the past decades. There are several factors that are contributing to the significant growth of in-orbit manufacturing, servicing, and transportation market. Some of these factors include focused efforts by emerging space companies to develop on-orbit space capabilities, increasing efforts toward space debris removal, and increasing satellite launches.
The in-space manufacturing, servicing, and transportation market research provides detailed market information for segmentation such as end user, operation, and region. The purpose of this market analysis is to examine the in-space manufacturing, servicing, and transportation market outlook in terms of factors driving the market, trends, technological developments, and competitive benchmarking, among others.
On-orbit satellite servicing is the technology that repairs, refurbish, and refuel satellite that has already been launched. The technology is a disrupting new avenue, wherein great technological transformation is expected to be witnessed in the space sector. The capability is an integral part to further space capabilities and the opportunity to an entirely new infrastructure for Earth observation, communications, space exploration, space travel, and habitats.
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Europe to Witness Fastest Growth in In-Space Manufacturing, Servicing, and Transportation Market:
Europe is expected to register the highest growth in the in-space manufacturing, servicing, and transportation market during the forecast period. The presence of European Space Agency (ESA), which is the second-largest space agency, and the need to make space more accessible to the people, along with the need for commercialization of space, are the key drivers for the Europe space industry.
Key Companies in the Global In-Space Manufacturing, Servicing, and Transportation Industry
The key market players in the global in-space manufacturing, servicing, and transportation market include Airbus S.A.S., Altius Space, Astrobotics, Astroscale, Momentus Space, Atomos Space, Chandah Space Technologies, D-Orbit SpA, Honeybee Robotics, Infinite Orbits, Orbit Fab, Northrop Grumman Corporation, SSL (a Maxar Company), Tethers Unlimited, Inc., and Made In Space, among others.
Key Questions Answered in this Report:
• What are the underlying structures resulting in the emerging trends within the in-space manufacturing, servicing, and transportation market?
• What is the scope in the market for new OEMs and other players to enter?
• What are the driving and challenging factors for the growth of the in-space manufacturing, servicing, and transportation market?
• Which operation type is expected to lead the in-space manufacturing, servicing, and transportation market by 2030?
• What was the market value of the regions in in space manufacturing, servicing and transportation market in 2019, and how is the market estimated to grow during the forecast period 2020-2030?
• How is the industry expected to evolve during the forecast period 2020-2030?
• What are the key development strategies that are implemented by the key players to sustain the competitive market?
About BIS Research:
BIS Research (Business Intelligence and Strategy Research) is a global B2B market intelligence and advisory firm focusing on those emerging technological trends which are likely to disrupt the dynamics of the market.
With over 150 market research reports published annually, BIS Research focuses on high technology verticals such as 3D Printing, Advanced Materials and Chemicals, Aerospace and Defense, Automotive, Healthcare, Electronics and Semiconductors, Robotics and UAV, and other emerging technologies.
Our in-depth market intelligence reports focus on the market estimations, technology analysis, emerging high-growth applications, deeply segmented granular country-level market data, and other important market parameters useful in the strategic decision-making for senior management.
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