Small-satellites and Downstream Digital Transformation
Small-satellites and Downstream Digital Transformation Accelerate Space Industry Evolution
Global launch demand and cumulative launch opportunities of $102.52 billion from 2019-2030 will augment growth prospects, finds Frost & SullivanLONDON, Aug. 14, 2019 — (PRNewswire) — New market entrants, platforms, services and business models are disrupting the global space industry. To serve an evolving market, value chain players are developing flexible, affordable, dedicated, competitive and complementary solutions for end customers to sustain significant growth opportunities. Frost & Sullivan forecasts the total revenue opportunities for the global satellite manufacturing market to soar past $366.06 billion with global launch demand for 12,766 satellites and cumulative launch opportunities of $102.52 billion for the period 2019 to 2030.
"The space industry is rapidly evolving. Not only are satellite platforms becoming more agile and robust with the execution of software-based satellites, electric propulsion systems and spot beam offerings, but competition in the launch services market is lowering prices and new entrants with mega-constellation-based business models are poised to disrupt the connectivity and earth observation market," said Arun Kumar Sampathkumar, Industry Manager, Space at Frost & Sullivan.
Currently, there is a clear...