Market Trends of Asia-Pacific Satellite Manufacturing and Launch Systems Industry
This section covers the major market trends shaping the APAC Satellite Manufacturing Systems Market according to our research experts:
Military Satellites Account for a Major Market Share
In 2019, the military segment accounted for a major share of the Asia-Pacific satellite manufacturing and launch systems market, owing to the increasing demand for satellites for conducting a variety of mission profiles. With the advent of technology, the nature of battles has changed drastically. For various military requirements, including communication, the defense agencies around the world require space capability to meet the demand for more operationally responsive forces. Moreover, the growing utilization of commercial satellite platforms for dual (military and civil) purposes has boosted the market. China, India, and several other nations in the region use satellite telemetry data to provide satellite tracking, telemetry, and command to its relevant users through several ground-based antennas that are located at various locations globally. Increasing the use of satellite-based maritime surveillance and border protection is a major trend due to its rapid evaluation in situations during extreme weather conditions and a warfare crisis. Countries are extensively planning to upgrade or procure a fleet of optical satellites to help them safeguard and monitor national interests. For instance, in April 2019, India launched the Emisat, a military satellite that is capable of monitoring and providing the locations of enemy radar sites deep in their territory. Thus, the development and launch of such advanced satellites would drive the market in focus in Asia-Pacific during the forecast period.
China is Expected to Exhibit the Highest Growth Rate
The augmented demand for satellites has resulted in the initiation of several R&D programs that are either government-funded or financed by private entities. Several launches have been carried out during the last couple of years for fulfilling the demands of both commercial and military operators. China is racing ahead to develop an indigenous navigation system. On this note, in April 2019, China launched a BeiDou satellite from the mountainous Xichang spaceport. China envisions to complete its BeiDou constellation by 2020. Since 2000, China has launched 44 BeiDou satellites that include test models (now defunct) and previous-generation satellites that provide regional navigation coverage over the Chinese territory and its neighboring regions. In 2019, China achieved 34 orbital launches and surpassed the United States, which achieved a mere 21 launches. China plans to launch the world's biggest space telescope, the world's heaviest rocket, and a space station to rival the ISS in the upcoming period. Such developments are anticipated to drive the China segment of the market in focus during the forecast period.
