Space Equipment Global Market Report 2023: Expanding Applications of Satellite Imagery in Commercial & Military Sectors Bodes Well for Sector

News provided by

May 03, 2023, 14:15 ET

DUBLIN, May 3, 2023 /PRNewswire/ -- The "Space Equipment - Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.

Global Space Equipment Market to Reach $580.5 Billion by 2030

In the changed post COVID-19 business landscape, the global market for Space Equipment estimated at US$411.8 Billion in the year 2022, is projected to reach a revised size of US$580.5 Billion by 2030, growing at a CAGR of 4.4% over the analysis period 2022-2030. Communications Satellites, one of the segments analyzed in the report, is projected to record a 5.4% CAGR and reach US$273.6 Billion by the end of the analysis period.

Taking into account the ongoing post pandemic recovery, growth in the Earth Observation Satellites segment is readjusted to a revised 3.3% CAGR for the next 8-year period.

The U.S. Market is Estimated at $120.5 Billion, While China is Forecast to Grow at 4% CAGR

The Space Equipment market in the U.S. is estimated at US$120.5 Billion in the year 2022. China, the world's second largest economy, is forecast to reach a projected market size of US$101.8 Billion by the year 2030 trailing a CAGR of 4% over the analysis period 2022 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 4% and 3.5% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 3.2% CAGR.

Select Competitors (Total 36 Featured) -

AAR CORP.
Airbus Group SE
Applied Radar, Inc.
Arianespace SA
BAE Systems Plc
Ball Aerospace
Bombardier, Inc.
Dassault Aviation SA
DigitalGlobe, Inc.
Honeywell International, Inc.
Israel Aerospace Industries Ltd.
Lockheed Martin Corporation
Northrop Grumman Corporation
RUAG Holding AG
Safran SA
Space Exploration Technologies Corp.
The Boeing Company

Looking Ahead to 2023

The global economy is at a critical crossroads with a number of interlocking challenges and crises running in parallel. The uncertainty around how Russia`s war on Ukraine will play out this year and the war`s role in creating global instability means that the trouble on the inflation front is not over yet. Food and fuel inflation will remain a persistent economic problem. Higher retail inflation will impact consumer confidence and spending. As governments combat inflation by raising interest rates, new job creation will slowdown and impact economic activity and growth. Lower capital expenditure is in the offing as companies go slow on investments, held back by inflation worries and weaker demand. With slower growth and high inflation, developed markets seem primed to enter into a recession. Fears of new COVID outbreaks and China's already uncertain post-pandemic path poses a real risk of the world experiencing more acute supply chain pain and manufacturing disruptions this year. Volatile financial markets, growing trade tensions, stricter regulatory environment and pressure to mainstream climate change into economic decisions will compound the complexity of challenges faced. Year 2023 is expected to be tough year for most markets, investors and consumers. Nevertheless, there is always opportunity for businesses and their leaders who can chart a path forward with resilience and adaptability.

What`s New for 2023?

Special coverage on Russia-Ukraine war; global inflation; easing of zero-Covid policy in China and its `bumpy` reopening; supply chain disruptions, global trade tensions; and risk of recession.
Global competitiveness and key competitor percentage market shares
Market presence across multiple geographies - Strong/Active/Niche/Trivial
Online interactive peer-to-peer collaborative bespoke updates
Access to digital archives and Research Platform
Complimentary updates for one year

Key Topics Covered:

I. METHODOLOGY

II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW

Influencer Market Insights
World Market Trajectories
Impact of Covid-19 and a Looming Global Recession
Aerospace & Defense, The World's Largest & Most Powerful Industry, Undergoes Transformation
Adoption of Digital & Advanced Manufacturing Technologies: The First Step in Transforming Operations
Material & Engineering Innovations: The Second Step in Engineering & Product Transformation
Growing Pressure to Reduce Design & Manufacturing Costs and Lead Times Encourages Supply Chain Transformation
Recent Market Activity
Space Equipment - Global Key Competitors Percentage Market Share in 2022 (E)
Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)

2. FOCUS ON SELECT PLAYERS

3. MARKET TRENDS & DRIVERS

Expanding Applications of Satellite Imagery in Commercial & Military Sectors Bodes Well for the Growth in Demand for Satellites
Micro-Satellites Make Their Mark
Missile Defense Continues to Play a Pivotal Role in 21st Century Combat Force
Rising Prices of Combat Aircraft Shifts Focus on Innovations in Air-to-Air Missile Systems
European Combat Aircraft Deploy Indigenous Air-to-Air Missile Systems to Curtail Dependence on US Defense Technology
Longer Range and Innovative Seeker Software Enable Air-to-Surface Missiles to Achieve Pinpoint Accuracy in Dense Air Defense Environments
Longer Range and Precision Strike Surface-to-Surface Missiles Enable Combat Forces to Engage Targets over a Vast Geographical Area
New Generation Anti-Ship Missiles Use Stealth, Speed and Sea-Skimming Capability to Evade Detection and Interception by Enemy Radar
Advancing Scientific Research in the Field of Space Exploration to Drive Global Demand for Space Equipment
Shape Shifting Satellite and Hypersonic Space Plane to Provide Low Cost Access to Space
Earth Observation Small Satellites Provide Rapidly Refreshed High Resolution Imagery for Immediate Analysis and Improved Decision Making
High Throughput Communication Satellites to Serve Unprecedented Demands for Video and Data Services

4. GLOBAL MARKET PERSPECTIVE

III. MARKET ANALYSIS

IV. COMPETITION

For more information about this report visit https://www.researchandmarkets.com/r/tcstzf

About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.

Media Contact:

Research and Markets
Laura Wood, Senior Manager
[email protected]

For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900

U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716

Logo: https://mma.prnewswire.com/media/539438/Research_and_Markets_Logo.jpg

SOURCE Research and Markets