-- North America is predicted to dominate commercial satellite launch service Market and will be worth over USD 2.5 billion by 2024. This dominance can be credited to availability of robust infrastructure in the region and presence of multiple space organizations including SpaceX and NASA. Expansion of navigation industry demand to locate destinations is contributing significantly in regional revenue generation. Asia Pacific is anticipated to register robust growth owing to low launching cost offered by organizations such as ISRO.
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Increasing public spending and availability of financial investment is spurring the use of smart appliances, such as smart televisions and web streaming which in turn will fuel commercial satellite launch service Market. Soaring smart phone sales along with internet usage among youngsters is enhancing web-based applications such as AccuWeather, Google search, Facebook, and Instagram. In addition, introduction of smart classes will further improve internet penetration. In 2017, the number of online users reached approximately to 25 million. This in turn will escalate the commercial satellite launch service Market in next seven years.
Prohibitive cost may hinder the commercial satellite launch service market growth during forecast period. In addition, launching challenges, quality control, absence of proper launch facility, and distribution channel may restrict the industry growth. However, declining price owing to technological advancements thereby reinforcing Industry.
LEO segment of commercial satellite launch service market will exhibit CAGR of around 3.2% during forecast period owing to less deploy time and low launching cost in comparison with other orbits. Additionally, the segment is the positive gateway for expanding connectivity in remote areas.
The micro commercial satellite launch service market will experience more than 6% of growth rate during the projected time span. This growth rate can be credited to rising developments for enhancing affordability and reliability of the launching vehicles. Micro SATs penetration is observed in various industries owing to compact size.
Communication commercial satellite launch service Market will dominate industry volume share owing to increasing usage of wireless technology and rising connectivity among various countries. Reconnaissance segment is anticipated to hold over 35% of overall revenue share owing to utilization of imagery SATs for improving farming techniques. Online web sources and GIS tools for farmers will further spur segment revenue over the forecast period.
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Several companies across the private sector have been developing novel spacecraft for commercial purposes, aided by a supportive governmental framework. The U.S. Federal Aviation Administration (FAA) for instance, recommends changes in the policies, regulations, plans, procedures, treaties, and federal statutes and approves commercial satellite launches in the United States. It also ensures the expansion of the required infrastructure and promotes commercial spacecraft launches by the private sector.
The escalating need of digitization across the globe is expected to encourage companies to develop satellites for improving communication, weather broadcasting, television broadcasting, and more. Powered by technologically advanced industrial scenario and a strong regulatory framework, commercial satellite launch service industry is anticipated to register a CAGR of 2.5% over 2018-2024.
Table of Contents (TOC) of the report:
Chapter 4. Commercial satellite launch service Market, By Orbit
4.1. Global commercial satellite launch service industry share by orbit, 2017 & 2024
4.2. LEO
4.2.1. Market estimates and forecast, 2013-2024
4.2.2. Market estimates and forecast, by region, 2013-2024
4.3. MEO
4.3.1. Market estimates and forecast, 2013-2024
4.3.2. Market estimates and forecast, by region, 2013-2024
4.4. GEO
4.4.1. Market estimates and forecast, 2013-2024
4.4.2. Market estimates and forecast, by region, 2013-2024
4.5. HEO
4.5.1. Market estimates and forecast, 2013-2024
4.5.2. Market estimates and forecast, by region, 2013-2024
Chapter 5. Commercial satellite launch service Market, By Size
5.1. Global commercial satellite launch service industry share by size, 2017 & 2024
5.2. Large
5.2.1. Market estimates and forecast, 2013-2024
5.2.2. Market estimates and forecast, by region, 2013-2024
5.3. Medium
5.3.1. Market estimates and forecast, 2013-2024
5.3.2. Market estimates and forecast, by region, 2013-2024
5.4. Small
5.4.1. Market estimates and forecast, 2013-2024
5.4.2. Market estimates and forecast, by region, 2013-2024
5.5. Micro
5.5.1. Market estimates and forecast, 2013-2024
5.5.2. Market estimates and forecast, by region, 2013-2024
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