Asia-Pacific Remote Sensing Satellites Market Trends

Statistics for the 2023 & 2024 Asia-Pacific Remote Sensing Satellites market trends, created by Mordor Intelligence™ Industry Reports. Asia-Pacific Remote Sensing Satellites trend report includes a market forecast to 2029 and historical overview. Get a sample of this industry trends analysis as a free report PDF download.

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Market Trends of asia-pacific remote sensing satellites Industry

Rising demand for satellite miniaturization is driving the market

  • Miniature satellites leverage advances in computation, miniaturized electronics, and packaging to produce sophisticated mission capabilities. As microsatellites can share the ride to space with other missions, they offer a considerable reduction in launch costs.
  • The demand from Asia-Pacific is primarily driven by China, Japan, and India, which manufacture the largest number of small satellites annually. Though the launches have decreased over the last three years, the satellite market in these countries continues to hold huge potential. Ongoing investments in startups and nano and microsatellite development projects are expected to boost the revenue growth of the region. From 2017 to 2022, more than 550 nano and microsatellites were placed into orbit by various players in the region.
  • China is investing significant resources toward augmenting its space-based capabilities. The country has launched the largest number of nano and microsatellites in the Asia-Pacific region. In April 2022, Chinese startup SpaceWish’s nanosatellite was launched into LEO aboard the CZ-2C (3) rocket. XINGYUAN-2 is a 6U remote sensing CubeSat that weighs approximately 7.5 kg.
  • Singapore has become a pioneer in the fabrication of nanosatellites, with several models being designed each year for scientific missions. The SpooQy-1 NanoSat, which was launched by JAXA in 2019, is the brainchild of the Centre for Quantum Technologies (CQT) at the National University of Singapore. The 3,000 cm3 satellite weighs just 2.6 kg and is designed to demonstrate the physical phenomenon of quantum entanglement in space, which, if proven, may unlock quantum communications in space and attract investments worth USD 20 billion by 2030.
Asia-Pacific Remote Sensing Satellites Market

Rising investment opportunities in the market are driving spending on space programs

  • Considering the increase in space-related activities in the Asia-Pacific region, satellite manufacturers are enhancing their production capabilities to tap into the rapidly emerging market potential. The prominent countries in Asia-Pacific that possess a robust space infrastructure are China, India, Japan, and South Korea. China National Space Administration announced space exploration priorities for the 2021–2025 period, including enhancing national civil space infrastructure and ground facilities. As a part of this plan, the Chinese government established China Satellite Network Group Co. Ltd for the development of a 13,000-satellite constellation for providing satellite internet services.
  • In 2022, according to the draft budget of Japan, the space budget of the country was over USD 1.4 billion, which included investment for space activities of 11 government ministries. These activities include the development of the H3 rocket, Engineering Test Satellite-9, and the nation's Information Gathering Satellite (IGS) program. India has become a global leader in third-party launch services and has several ongoing R&D programs for new launch platforms. The proposed budget for India's space programs for FY22 was USD 1.83 billion.
  • South Korea's space program has seen slow progress as other countries are reluctant to transfer core technologies. In 2022, the Ministry of Science and ICT announced a space budget of USD 619 million for manufacturing satellites, rockets, and other key space equipment. Many Southeast Asian countries have also recently started investing in space technology. As of March 2021, the Indonesian government had secured USD 545 million to continue the fabrication of the Very High Throughput Satellite (SATRIA), using a Public Private Partnership (PPP) scheme.
Asia-Pacific Remote Sensing Satellites Market

OTHER KEY INDUSTRY TRENDS COVERED IN THE REPORT

  • Small satellites are poised to create demand in the market
  • Rising demand for satellite miniaturization is driving the market

Asia-Pacific Remote Sensing Satellites Market SIZE & SHARE ANALYSIS - GROWTH TRENDS & FORECASTS UP TO 2029