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Global On-Orbit Satellite Servicing Markets 2023-2030 with Maxar Technologies, Astroscale, SpaceLogistics, Airbus, and Thales Alenia Space DominatingDUBLIN, June 6, 2023 /PRNewswire/ -- The "On-Orbit Satellite Servicing Market by Service (Active Debris Removal (ADR) and Orbit Adjustment, Robotic Servicing, Refueling, Assembly), End User (Military & Government, Commercial), Orbit, Type and Region - Global Forecast to 2030" report has been added to ResearchAndMarkets.com's offering.
Increasing use of dedicated satellite servicing mission extension vehicles (MEVs), increasing investment in the space market and increased demand for satellite life extension are driving the global on-orbit satellite servicing market The market for on-orbit satellite servicing is driven by various factors, such as increasing demand for more effective, cost efficient satellite services. However, Rapid advancements in satellite technology can lead to the obsolescence of on-orbit satellite services are limiting the overall growth of the market. Robotic Servicing: The largest share of the on-orbit satellite servicing market by Service in 2023. Robotic servicing systems have become increasingly important for operations in both the lower Earth orbit (LEO) and the geostationary orbit (GEO). In LEO, these systems excel at tasks such as satellite capture, refueling, repair, and upgrades. Similarly, in GEO, they offer valuable services like relocation, refueling, and repair. One of the major advantages of robotic servicing systems is their ability to tackle tasks that are challenging or impossible for human operators. They can perform repairs in hazardous or inaccessible environments, such as on the outer surfaces of satellites exposed to the harsh conditions of space. Additionally, robots can work continuously without requiring rest or sleep, making them ideal for prolonged, demanding tasks. Numerous companies and organizations, including SpaceLogistics (US) and Maxar Technologies (UUS), are actively developing robotic servicing capabilities. Their focus lies on advancing technologies like robotic arms, capture mechanisms, and refueling systems to enhance the safety, efficiency, and effectiveness of satellite servicing in orbit. Commercial: The largest segment of the on-orbit satellite servicing market by End User in 2023 The primary advantage of commercial on-orbit satellite servicing is the potential to extend the operational lifetime of commercial satellites, allowing them to provide valuable services and generate revenue for a longer period of time. It can also help reduce the need for costly and risky satellite replacements while enabling operators to upgrade and modify their existing satelites to keep up with technological advancements and market demands. Overall, the commercial on-orbit satellite servicing market is expected to experience rapid growth as more satellite operators seek to maximize the value and utility of their space assets. North America to account for the largest share in the on-orbit satellite servicing market in the forecasted year The US is a major player in the on-orbit satellite servicing market, with several companies offering innovative solutions for repairing, refueling, maintaining, and upgrading satellites in orbit. One of the key drivers of the on-orbit satellite servicing market in the US is the increasing number of satellites in orbit, particularly in the commercial sector. As the demand for satellite communication and data services continues to grow, companies are looking for ways to extend the lifespan of their satellites and maximize their operational capabilities. On-orbit servicing provides a cost-effective solution for achieving these goals. SpaceLogistics LLC is one of the leading companies in the on-orbit satellite servicing market in the US. Its Mission Extension Vehicle (MEV) program provides life-extension services for satellites that are running low on fuel or experiencing other technical issues. The MEV-1 successfully docked with the Intelsat 901 satellite in February 2020, marking a significant milestone in the commercial on-orbit servicing industry. Competitive landscape Prominent companies in the on-orbit satellite servicing market are Maxar Technologies (US), Astroscale Holdings Inc. (Japan), SpaceLogistics LLC (US), Airbus SE (Netherlands), and Thales Alenia Space (France), among others. Premium Insights
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