Mar 20, 2020
All-Electric Satellites Poised to Witness Rampant Adoption, on Back of Extended Mission Capabilities, Concludes Fact.MR
by Team Fact.MR
The all-electric satellite market is projected to be valued at more than US$ 18 billion, and is poised to grow at a staggering CAGR of over 11% during the forecast period. As existing operators are preferring all-electric propulsion mechanisms, the satellite industry is witnessing a steady uptake of all-electric satellites. All-electric satellites are a new category of satellites providing extended mission time along with improved efficiency. They often weigh lesser than the traditional satellites. This leads to decreased satellite operator launch costs. The market is expected to witness many operators who show a pronounced shift towards all-electric satellite solutions as part of their future and current missions, with the possibility of low-weight satellites capturing their interest.
Key Takeaways of All-Electric Satellite Market Study
- More than 30% of all the all-electric satellites launched in 2018 were for commercial communication purposes
- Though civil operators are increasingly adopting all-electric satellites, military surveillance operators remain slow to embrace
- Earth observation and remote sensing applications will grow at the highest CAGR of over 12% as operators are beginning to diversify targeting applications
- North America holds the largest share (~35%) within the global all-electric satellite market. The presence of prominent space organizations such as National Aeronautics and Space Administration (NASA) is attributing to such growth
- APAC is anticipated to showcase the highest growth rates (over 14%) especially in nations such as China and India, due to the growing downstream applications which are facilitating growth
“Although the market is at its foundation stage where the all-electric parts are a robust component of the conventional commercial satellites, the gradual shifting to all-electric platforms is evident. The market is embracing a combination of hybrid, traditional and all-electric platforms” says the Fact.MR analyst
Product Enhancement to Foster Market Resiliency
Boeing SA was the first contributor towards the all-electric satellites industry in 2012 with a four-satellite watershed contract. In the aftermath of that contract, space agencies and other companies around the world have increased their investments in electric propulsion for use in research missions that go mainstream in the commercial sector. Manufacturers of all-electric satellites are now trying to find novel ways of increasing their market share for electric propulsion while not ignoring traditionally inclined customers. However, he allure of economies of scale and less reliance on external suppliers makes vertical integration difficult in the all-electric satellite market. Presently, vertical integration is an expensive business practice, with major associated risks.
Find More Valuable Insights on the Market
Fact.MR, in its new offering, provides an unbiased analysis of the global market for all electric satellites, with historical data on demand (2013-2018) and expected projections for the period 2019-2027. The report discloses compelling insights into the demand for all-electric satellites based on propulsion type (electrostatic, electrothermal, electromagnetic, photonic, electrodynamic tether), satellite type (LEO (low earth orbit), MEO (medium earth orbit), GEO (geosynchronous earth orbit)), application (commercial communications, military surveillance, earth observation & remote sensing, research and development) across several major regions.
>>> To Get more insights on all electric satellites market, visit- https://www.factmr.com/report/4637/all-electric-satellites-market
About the ICT Division at Fact.MR
Expert analysis, actionable knowledge and tactical advice – The ICT team at Fact.MR helps customers from around the world with their unique business intelligence needs. While mobile and smart technologies tend to be nearly everywhere, the ICT field provides exciting potential for innovation. With a portfolio of more than 1,000 articles and 1 million plus data points, the group has been lucidly analyzing the ICT industry in more than 50 countries for over a decade. The team provides end-to-end analysis and consulting services. Reach out and discuss how we can help.