Satellite Parts and Components Market Size
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Study Period | 2017 - 2029 |
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Market Size (2024) | USD 244.93 Billion |
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Market Size (2029) | USD 389.69 Billion |
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Largest Share by Orbit Class | LEO |
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CAGR (2024 - 2029) | 9.73 % |
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Largest Share by Region | North America |
Major Players |
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*Disclaimer: Major Players sorted in no particular order |
Satellite Parts and Components Market Analysis
The Satellite Parts and Components Market size is estimated at USD 244.93 billion in 2024, and is expected to reach USD 389.69 billion by 2029, growing at a CAGR of 9.73% during the forecast period (2024-2029).
244.93 Billion
Market Size in 2024 (USD)
389.69 Billion
Market Size in 2029 (USD)
13.38 %
CAGR (2017-2023)
9.73 %
CAGR (2024-2029)
Largest Market by Region
69.89 %
value share, North America, 2022
The increasing investment in satellite equipment to enhance the defense and surveillance capabilities, critical infrastructure, and law enforcement agencies using satellite systems are expected to drive the North American LEO satellite market.
Fastest-Growing Market by Region
12.49 %
Projected CAGR, Asia-Pacific, 2023-2029
Government collaborations with private players are emphasizing the growth of satellite parts and components market in the Asia-Pacific region. In addition, continuous investments towards the development of these satellites by China and India is also prompting to the increased growth.
Leading Market Player
29.08 %
market share, General Dynamics, 2022
General Dynamics Corporation is the largest player in the global satellite parts and components market. The company is one of the major suppliers of mission payloads for different manufacturers and space agencies in the United States.
Second Leading Market Player
24.15 %
market share, Northrop Grumman Corporation, 2022
The company provides satellite components for a broad range of customers like NASA, the Department of Defense (DoD), the US Air Force, the US Space Force, and a wide range of commercial companies. This has prompted the company to occupy and significant share in the satellite parts and components market.
Third Leading Market Player
20.03 %
market share, Lockheed Martin Corporation, 2022
The company is expanding its presence in the space business by establishing manufacturing facilities and having its geographical footprint across Europe and other regions is prompting it to occupy a significant markte share.
The adaptation of new satellite manufacturing techniques is expected to open new scope of opportunities
- The global satellite parts and components industry has been experiencing several trends in recent years. With the advancements in technology, small satellites have become more capable and cost-effective, making them an attractive option for various applications. The trend of satellite miniaturization resulted in an increasing demand for small satellite components, such as propulsion systems, power systems, and antennas.
- Additive manufacturing, or 3D printing, has been gaining popularity in the satellite industry due to its ability to produce complex parts and reduce manufacturing costs. This technology is being used to produce satellite components such as antennas, brackets, and engine parts. The major space agencies such as NASA and the European Space Agency have emphasized that. One of the major players in the global space industry, the United States, is a trendsetter in the development of advanced technologies for satellite communications, remote sensing, and space exploration. These innovative technologies include high-performance electronics, advanced sensors, lightweight materials, and propulsion systems. Another trend is the increasing use of pre-existing components and subsystems commercial-off-the-shelf (COTS) in satellite design and development. COTS components can significantly reduce development time and costs while improving reliability and performance.
- Between 2017 and May 2022, around 4300+ satellites were manufactured and launched globally. Overall, these trends are shaping the future of the global satellite parts and components industry as companies work to meet the demands of an ever-changing market while also driving innovation in the field. The global satellite parts and components market is expected to grow by 40% between 2023 and 2029.
Global Satellite Parts and Components Market Trends
The increased importance of satellite miniaturization is expected to affect the satellite mass
- Satellites are getting smaller nowadays, and a small satellite can do almost everything that a conventional satellite can at a fraction of the cost of the conventional satellite, which has made the building, launching, and operation of small satellite constellations increasingly viable. Correspondingly, reliance on them has been growing exponentially. Small satellites typically have shorter development cycles, smaller development teams, and cost much less for launch.
- The major classification types according to mass are large satellites that are more than 1,000 kg. During 2017-2022, around 44 large satellites launched were owned by North American organizations. A medium-sized satellite has a mass between 500 and 1000 kg. Globally, organizations operated more than 320 satellites launched. Satellites are classified according to mass. Satellites with a mass of less than 500 kg are considered small satellites, and around 3800+ small satellites were launched globally.
- There is a growing trend toward small satellites in the region because of their shorter development time, which can reduce overall mission costs. They have made it possible to significantly reduce the time required to obtain scientific and technological results. Small spacecraft missions tend to be flexible and can, therefore, be more responsive to new technological opportunities or needs. The small satellite industry in the United States is supported by a robust framework for designing and manufacturing small satellites tailored to serve specific application profiles. The demand for satellite parts and components in the North American region is expected to surge during 2023-2029 due to increasing demand in the commercial and military space sector.
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The increasing expenditures of different space agencies is expected to positively impact the satellite industry
- The increasing use of satellite technology in various applications, including communication, navigation, and earth observation, has created a need for new and innovative satellite components. Companies are investing in R&D to develop components that meet the specific requirements of these applications. Technological advancements, such as the use of AI and machine learning, additive manufacturing, and advanced materials, are driving the need for R&D investment in the satellite parts and components industry. These advancements are creating new opportunities for the development of innovative components.
- In November 2022, ESA announced that it proposed a 25% boost in space funding over the next three years designed to maintain Europe's lead in Earth observation, expand navigation services, and remain a partner in exploration with the United States. The European Space Agency (ESA) is asking its 22 nations to back a budget of some EUR 18.5 billion for 2023-2025. Likewise, in September 2022, France announced that it is expecting to increase spending on national and European space programs.
- In North America, global government expenditure for space programs hit a record of approximately 103 billion in 2021. The region is the epicenter of space innovation and research, with the presence of NASA, the world's biggest space agency. In 2022, the US government spent nearly USD 62 billion on its space programs, making it the highest spender on space in the world. In the United States, federal agencies receive aid from the government every year, known as funding, USD 32.33 billion for its subsidiaries. The spending on space and research grants is expected to surge in the region, growing the sector's importance in every domain of the global economy.
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OTHER KEY INDUSTRY TRENDS COVERED IN THE REPORT
- The trend of better fuel and operational efficiency is witnessed
Satellite Parts and Components Industry Overview
The Satellite Parts and Components Market is fairly consolidated, with the top five companies occupying 90.12%. The major players in this market are General Dynamics, Lockheed Martin Corporation, Northrop Grumman Corporation, Thales and The Boeing Company (sorted alphabetically).
Satellite Parts and Components Market Leaders
General Dynamics
Lockheed Martin Corporation
Northrop Grumman Corporation
Thales
The Boeing Company
Other important companies include AAC Clyde Space, BAE Systems, Innovative Solutions in Space BV, Jena-Optronik, OHB SE, SENER Group, Sitael S.p.A..
*Disclaimer: Major Players sorted in alphabetical order.
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Satellite Parts and Components Market News
- January 2023: ISISPACE has launched 47 payloads from 8 different countries during its ISILAUNCH38 mission on board Falcon 9 Rocket. ISILAUNCH partnered with SpaceBD from Japan, to jointly manifest payloads from Japan, Europe, and other parts of the world on the launch on one of the ports on this launch.
- December 2022: ASTRO CL, the smallest member of the Jena-Optronik star sensor family was be used on the new LEO platform from Maxar. Each satellite is equipped with two ASTRO CL sensors, which support the attitude control of these satellites.
- November 2022: As part of NASA's Artemis I mission, the Orion spacecraft successfully launched into space on November 16, 2022. Two star trackers from Jena-Optronik GmbH guided the Orion on its way to lunar orbit.
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We offer a comprehensive set of global and local metrics that illustrate the fundamentals of the satellites industry. Clients can access in-depth market analysis of various satellites and launch vehicles through granular level segmental information supported by a repository of market data, trends, and expert analysis. Data and analysis on satellite launches, satellite mass, application of satellites, spending on space programs, propulsion systems, end users, etc., are available in the form of comprehensive reports as well as excel based data worksheets.
Satellite Parts and Components Market Report - Table of Contents
1. EXECUTIVE SUMMARY & KEY FINDINGS
2. REPORT OFFERS
3. INTRODUCTION
- 3.1 Study Assumptions & Market Definition
- 3.2 Scope of the Study
- 3.3 Research Methodology
4. KEY INDUSTRY TRENDS
- 4.1 Satellite Miniaturization
- 4.2 Satellite Mass
- 4.3 Spending On Space Programs
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4.4 Regulatory Framework
- 4.4.1 Global
- 4.4.2 Australia
- 4.4.3 Brazil
- 4.4.4 Canada
- 4.4.5 China
- 4.4.6 France
- 4.4.7 Germany
- 4.4.8 India
- 4.4.9 Iran
- 4.4.10 Japan
- 4.4.11 New Zealand
- 4.4.12 Russia
- 4.4.13 Singapore
- 4.4.14 South Korea
- 4.4.15 United Arab Emirates
- 4.4.16 United Kingdom
- 4.4.17 United States
- 4.5 Value Chain & Distribution Channel Analysis
5. MARKET SEGMENTATION (includes market size in Value in USD, Forecasts up to 2029 and analysis of growth prospects)
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5.1 Region
- 5.1.1 Asia-Pacific
- 5.1.2 Europe
- 5.1.3 North America
- 5.1.4 Rest of World
6. COMPETITIVE LANDSCAPE
- 6.1 Key Strategic Moves
- 6.2 Market Share Analysis
- 6.3 Company Landscape
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6.4 Company Profiles (includes Global Level Overview, Market Level Overview, Core Business Segments, Financials, Headcount, Key Information, Market Rank, Market Share, Products and Services, and Analysis of Recent Developments).
- 6.4.1 AAC Clyde Space
- 6.4.2 BAE Systems
- 6.4.3 General Dynamics
- 6.4.4 Innovative Solutions in Space BV
- 6.4.5 Jena-Optronik
- 6.4.6 Lockheed Martin Corporation
- 6.4.7 Northrop Grumman Corporation
- 6.4.8 OHB SE
- 6.4.9 SENER Group
- 6.4.10 Sitael S.p.A.
- 6.4.11 Thales
- 6.4.12 The Boeing Company
7. KEY STRATEGIC QUESTIONS FOR SATELLITE CEOS
8. APPENDIX
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8.1 Global Overview
- 8.1.1 Overview
- 8.1.2 Porter's Five Forces Framework
- 8.1.3 Global Value Chain Analysis
- 8.1.4 Market Dynamics (DROs)
- 8.2 Sources & References
- 8.3 List of Tables & Figures
- 8.4 Primary Insights
- 8.5 Data Pack
- 8.6 Glossary of Terms
List of Tables & Figures
- Figure 1:
- MINIATURE SATELLITES (BELOW 10KG), NUMBER OF LAUNCHES, GLOBAL, 2017 - 2022
- Figure 2:
- SATELLITE MASS (ABOVE 10KG) GLOBALLY, NUMBER OF SATELLITES LAUNCHED, GLOBAL, 2017 - 2022
- Figure 3:
- SPENDING ON SPACE PROGRAMS GLOBALLY, USD, GLOBAL, 2017 - 2022
- Figure 4:
- GLOBAL SATELLITE PARTS AND COMPONENTS MARKET, VALUE, USD, 2017 - 2029
- Figure 5:
- VALUE OF SATELLITE PARTS AND COMPONENTS MARKET BY REGION, USD, GLOBAL, 2017 - 2029
- Figure 6:
- VALUE SHARE OF SATELLITE PARTS AND COMPONENTS MARKET BY REGION, %, GLOBAL, 2017 VS 2023 VS 2029
- Figure 7:
- VALUE OF SATELLITE PARTS AND COMPONENTS MARKET, USD, ASIA-PACIFIC, 2017 - 2029
- Figure 8:
- VALUE SHARE OF SATELLITE PARTS AND COMPONENTS MARKET BY APPLICATION, %, ASIA-PACIFIC, 2017 - 2029
- Figure 9:
- VALUE OF SATELLITE PARTS AND COMPONENTS MARKET, USD, EUROPE, 2017 - 2029
- Figure 10:
- VALUE SHARE OF SATELLITE PARTS AND COMPONENTS MARKET BY APPLICATION, %, EUROPE, 2017 - 2029
- Figure 11:
- VALUE OF SATELLITE PARTS AND COMPONENTS MARKET, USD, NORTH AMERICA, 2017 - 2029
- Figure 12:
- VALUE SHARE OF SATELLITE PARTS AND COMPONENTS MARKET BY APPLICATION, %, NORTH AMERICA, 2017 - 2029
- Figure 13:
- VALUE OF SATELLITE PARTS AND COMPONENTS MARKET, USD, REST OF WORLD, 2017 - 2029
- Figure 14:
- VALUE SHARE OF SATELLITE PARTS AND COMPONENTS MARKET BY APPLICATION, %, REST OF WORLD, 2017 - 2029
- Figure 15:
- NUMBER OF STRATEGIC MOVES OF MOST ACTIVE COMPANIES, GLOBAL SATELLITE PARTS AND COMPONENTS MARKET, ALL, 2017 - 2029
- Figure 16:
- TOTAL NUMBER OF STRATEGIC MOVES OF COMPANIES, GLOBAL SATELLITE PARTS AND COMPONENTS MARKET, ALL, 2017 - 2029
- Figure 17:
- MARKET SHARE OF GLOBAL SATELLITE PARTS AND COMPONENTS MARKET, %, ALL, 2022
Satellite Parts and Components Industry Segmentation
Asia-Pacific, Europe, North America are covered as segments by Region.
| Region | Asia-Pacific |
| Europe | |
| North America | |
| Rest of World |
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Market Definition
- Application - Various applications or purposes of the satellites are classified into communication, earth observation, space observation, navigation, and others. The purposes listed are those self-reported by the satellite’s operator.
- End User - The primary users or end users of the satellite is described as civil (academic, amateur), commercial, government (meteorological, scientific, etc.), military. Satellites can be multi-use, for both commercial and military applications.
- Launch Vehicle MTOW - The launch vehicle MTOW (maximum take-off weight) means the maximum weight of the launch vehicle during take-off, including the weight of payload, equipment and fuel.
- Orbit Class - The satellite orbits are divided into three broad classes namely GEO, LEO, and MEO. Satellites in elliptical orbits have apogees and perigees that differ significantly from each other and categorized satellite orbits with eccentricity 0.14 and higher as elliptical.
- Propulsion tech - Under this segment, different types of satellite propulsion systems have been classified as electric, liquid-fuel and gas-based propulsion systems.
- Satellite Mass - Under this segment, different types of satellite propulsion systems have been classified as electric, liquid-fuel and gas-based propulsion systems.
- Satellite Subsystem - All the components and subsystems which includes propellants, buses, solar panels, other hardware of satellites are included under this segment.
| Keyword | Definition |
|---|---|
| Attitude Control | The orientation of the satellite relative to the Earth and the sun. |
| INTELSAT | The International Telecommunications Satellite Organization operates a network of satellites for international transmission. |
| Geostationary Earth Orbit (GEO) | Geostationary satellites in Earth orbit 35,786 km (22,282 mi) above the equator in the same direction and at the same speed as the earth rotates on its axis, making them appear fixed in the sky. |
| Low Earth Orbit (LEO) | Low Earth Orbit satellites orbit from 160-2000km above the earth, take approximately 1.5 hours for a full orbit and only cover a portion of the earth’s surface. |
| Medium Earth Orbit (MEO) | MEO satellites are located above LEO and below GEO satellites and typically travel in an elliptical orbit over the North and South Pole or in an equatorial orbit. |
| Very Small Aperture Terminal (VSAT) | Very Small Aperture Terminal is an antenna that is typically less than 3 meters in diameter |
| CubeSat | CubeSat is a class of miniature satellites based on a form factor consisting of 10 cm cubes. CubeSats weigh no more than 2 kg per unit and typically use commercially available components for their construction and electronics. |
| Small Satellite Launch Vehicles (SSLVs) | Small Satellite Launch Vehicle (SSLV) is a three-stage Launch Vehicle configured with three Solid Propulsion Stages and a liquid propulsion-based Velocity Trimming Module (VTM) as a terminal stage |
| Space Mining | Asteroid mining is the hypothesis of extracting material from asteroids and other asteroids, including near-Earth objects. |
| Nano Satellites | Nanosatellites are loosely defined as any satellite weighing less than 10 kilograms. |
| Automatic Identification System (AIS) | Automatic identification system (AIS) is an automatic tracking system used to identify and locate ships by exchanging electronic data with other nearby ships, AIS base stations, and satellites. Satellite AIS (S-AIS) is the term used to describe when a satellite is used to detect AIS signatures. |
| Reusable launch vehicles (RLVs) | Reusable launch vehicle (RLV) means a launch vehicle that is designed to return to Earth substantially intact and therefore may be launched more than one time or that contains vehicle stages that may be recovered by a launch operator for future use in the operation of a substantially similar launch vehicle. |
| Apogee | The point in an elliptical satellite orbit which is farthest from the surface of the earth. Geosynchronous satellites which maintain circular orbits around the earth are first launched into highly elliptical orbits with apogees of 22,237 miles. |
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Research Methodology
Mordor Intelligence follows a four-step methodology in all our reports.
- Step-1: Identify Key Variables: In order to build a robust forecasting methodology, the variables and factors identified in Step-1 are tested against available historical market numbers. Through an iterative process, the variables required for market forecast are set and the model is built on the basis of these variables.
- Step-2: Build a Market Model: Market-size estimations for the historical and forecast years have been provided in revenue and volume terms. For sales conversion to volume, the average selling price (ASP) is kept constant throughout the forecast period for each country, and inflation is not a part of the pricing.
- Step-3: Validate and Finalize: In this important step, all market numbers, variables and analyst calls are validated through an extensive network of primary research experts from the market studied. The respondents are selected across levels and functions to generate a holistic picture of the market studied.
- Step-4: Research Outputs: Syndicated Reports, Custom Consulting Assignments, Databases & Subscription Platforms.
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