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Commercial Satellite Launch Service Market 2020: Overview and Share Forecast to 2026

Author : Rahul Varpe | Published Date : 2020-09-02 

With increasing collaborations between private enterprises and government agencies on space missions, commercial satellite launch service market is likely to witness a remunerative period of growth in the coming years. Rising smartphone penetration and the subsequently growing demand for better internet and telecommunication services is also expected to create ample revenue growth opportunities for the market.

In fact, recently in January of 2020, SpaceX, the renowned private aerospace company, established itself as an operator of the world's largest constellation of commercial satellites when it launched 60 of its Starlink broadband satellites using the company's own Falcon 9 rocket.

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Numerous aerospace companies have also started offering rideshare services where other companies can book a ride on the upcoming launch to place their satellites into the orbit at a fraction of the total amount it takes to do a standalone launch.

Lately ,the market landscape is witnessing tremendous activity as more enterprises are foraying into the industry and developing flexible and cheap rockets that can place small satellites in the Low Earth Orbit.

The overall commercial satellite launch service market is divided into different segments such as orbit, size, application, and regional landscape.

With respect to orbit, the market is further divided into Low Earth Orbit (LEO), Medium Earth Orbit (MEO), Geostationary Earth Orbit (GEO), Highly Elliptical Orbit (HEO). Among these the Highly Elliptical Orbit (HEO) segment is projected to witness distinguished growth over the analysis period. Increasing scope of application in the domain of communication satellites is expected to augment market growth.

By size, the market is divided into large, medium, small, and micro. The shaping trend on launching personal cubesat satellites for educational and research purposes is projected to support the segment growth of the micro satellite segment.

Table of contents for this research [email protected] https://www.gminsights.com/toc/detail/commercial-satellite-launch-service-market  

In terms of application, the market is bifurcated into navigational, communication, reconnaissance, weather forecasting, and remote sensing. The navigational segment is forecast to witness considerable growth over the projected timeframe. Increasing dependency of navigation across the civil sector is slated to generate market demand.

The communication satellite segment is expected to register considerable growth over the coming years. Change in work trends with increasing demand of internet infrastructure to augment the market growth.

From a regional reference frame, rising need across LATAM region to establish security network to fight civil crime, and other such issues is anticipated to support market demand in the region over the coming years.

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The MEA region is also expected to clock in tremendous revenue growth over the coming years. Requirement to trace natural reservoirs and basin through satellite imagery to increase market demand.

         

About Author

Rahul Varpe

Rahul Varpe

Rahul Varpe currently writes for fractovia. A communication Engineering graduate by education, Rahul started his journey in as a freelancer writer along with regular jobs. Rahul has a prior experience in writing as well as marketing of services and products online. Apart from being an avid reader, his other hobbies include music and sketching. [email protected] | https://twitter.com/varperahul

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