Satellite Manufacturing Market to reach $27.2 Billion by 2030; Expansion of satellite constellations, demand for satellites from the defense sector, advances in miniaturization drives, growing demand for satellite internet, development of small satel

The Satellite Manufacturing Market size is estimated to reach $27.2 Billion by 2030, growing at a CAGR of 15.3% during the forecast period 2024-2030, according to a recent report published by IndustryARC, titled, “Satellite Manufacturing Market – By Solution (Hardware, Software), By Size (Small Satellites (up to 500kg), Medium Satellites (500–1000kg), Large Satellites (Above 1000kg)), By Range (Low Earth Orbit (LEO), Medium Earth Orbit (MEO), Sun Synchronous Orbit (SSO), Geosynchronous Orbit (GEO)), By Application (Communication, Earth Observation & Remote Sensing, Research & Experiment, Reconnaissance, Mapping & Navigation, Others), By End User (Government, Defense, Commercial, Research Institutions, Maritime & Transportation, Academic, Others), By Geography - Opportunity Analysis & Industry Forecast, 2024-2030

Satellite manufacturing market is growing at a high rate due to the expansion of satellite constellations. Further demand for satellites due to a need of the satellites production from the defense sector to support surveillance and security demands is also motivating the rise in production. Increasingly, miniaturization technology advances are making it possible to build lighter, more efficient satellite systems. Investments in advanced communication satellites are fuelled by the growing demand for satellite internet services. Furthermore, small satellite development like CubeSats and nanosatellites is changing the industry through increasingly agile and affordable solutions for a constellation of applications.

In 2023, the North America held the largest share of 47% in the Satellite Manufacturing Market. The Satellite Manufacturing Market is led by North America, specifically the United States, thanks to strong government investments and strategic space initiatives. While the U.S. contributes 63% of the world’s space expenditure in 2023, NASA’s 2025 U.S. federal budget proposal, which would allot $25.4 billion, a 2% increase over 2024. In addition, Commercial satellite broadband and narrowband services are proving to be an important bridge over the digital divide with more than 2 million users nationwide depending on satellite for their essential communication services, according to the 2023 The Voice of the Satellite Industry report by the Satellite Industry Association (SIA). Moreover, critical 5G backhaul and direct to device services such as in Apple and Bullitt devices are supported by satellite networks. The report further states, in the past five years, satellite broadband subscriptions have grown by 83% and remote sensing data revenue by approximately 50%, highlighting the necessity for additional spectrum. Furthermore, the growing demand for communications on the move across land, air and maritime applications, necessitates significant capacity to support smart transportation, safety functions and entertainment services.

Satellite manufacturing market is driven by the growing demand for satellite internet, due to technological advancements and strategic policy changes. In November 2024 the Indian government announced it will allocate spectrum for satellite broadband services in an assignment-based approach as per International Telecommunication Union (ITU) standards. This also serves global satellite providers such as SpaceX’s Starlink, which is changing the game with its direct to cell satellite technology. Starlink offers the possibility of direct connexions from satellites to smartphones and wants to bring the dead zones of the world to an end, and it will do it by making communication possible where it wasn't possible before. SpaceX is bringing this technology to the users along with major telecom companies, which is a clear indication of the move toward satellite-based solutions. The demand for sophisticated satellites has risen as India supports satellite broadband policy and Starlink has launched the direct to phone service. These developments underscore the importance of satellite internet in closing the connectivity divide, and fuelling innovation, while also growing the global satellite manufacturing market.

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The rapid development of small satellites is a significant driver in the satellite manufacturing market, fueled by innovation and increased funding. Spanish company IENAI Space raised €3.9 million in 2024 to commercialise its ATHENA electric propulsion system, designed for satellites weighing from 3 to 50 kg. The European Space Agency (ESA) has funded ATHENA’s in orbit demonstration under ESA’s Horizon Europe Cassini mission, after the successful record 400 hour firing test verified by the ESA. In May 2024, Revolv Space also raised €2.6 million to develop SARA, the world’s first autonomous, fail-safe Solar Array Drive Assembly, that will improve satellite performance. These advancements are a response to the increasing demand for small, efficient and high quality satellite components, with production facilities expanding across Europe to service a wide range of industries. These efforts underscore the critical contribution small satellite innovations make to promoting market growth and meeting global connectivity and technological problems.

Key companies profiled in the Satellite Manufacturing Market are L3Harris Technologies Inc., SpaceX, Lockheed Martin Corporation, RTX, Airbus, Boeing, Thales, AAC Clyde Space, Inc., Ariane Group, Sierra Nevada Corporation and others.

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