APAC Satellite Manufacturing and Launch Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

APAC Satellite Manufacturing and Launch Industry Overview

The Asia-Pacific satellite manufacturing and launch system market is fragmented in nature due to the presence of several local and global players. Besides, the presence of several private and government satellite manufacturing entities in the region enhances the competition in the market. The South Asian region is witnessing tremendous growth in satellite launches every year. On this note, in October 2019, China Rocket unveiled two new solid fuel and liquid propellant rockets of the Smart Dragon and Tenglong families of space launch vehicles. Since traditional satellite manufacturers are not the sole investors of the market in focus, a radical change in the market dynamics is anticipated to emerge. Hence, to retain their competitive edge, some satellite ventures have plans to manufacture space systems, payloads, or subsystems and components in-house. Also, major technological shifts, such as miniaturization, and the advent of reusable satellite launch vehicle systems would necessitate subsequent adaptation for seizing emerging market opportunities. Moreover, owing to the long R&D period associated with the satellite industry, some companies are exposed to certain risks associated with design responsibility, the development of new production tools, more capital and funding commitments, delivery schedules, and unique contractual requirements. These risks, if not resolved swiftly, can affect the financial status of the market players and expose them to revenue fluctuations.