The 3,000 satellites over 50 kg to be launched over 2017–2026 should represent a market of $304 billion for the space industry in terms of building and launching, an average of $30 billion per year (up 25% over past decade).
Over the next decade more than 600 EO satellites (50kg+, non-meteorology) should be launched to support EO applications. The space industry contributes to the objectives of the EU's Europe 2020 Strategy for smart, sustainable, and inclusive growth.
The health of the global satellite telecommunications market is determined by the sustainability and continuity of the European space industry. Significant investments by the venture companies, the growing demand for low-cost miniaturized satellites, and increasing demand for Earth observation applications are some of the major driving factors propelling the growth of the small satellite market. The small satellite market is estimated to register a CAGR of more than 17% during the forecast period.
It drives scientific progress and boosts growth and employment in other areas such as telecommunications, navigation, and Earth observation. This is evident from a number of established facts: Research and Markets … It is a government dominated sector, as access to space is costly, involves technical risks and the viability of space enabled services requires large users markets. The satellite telecommunication industry is, by far, the most important space sector for the European satellite manufacturing industry, representing more than 60% of satellite activities in Europe. Special Features of Space Economy. From 2007 to 2016, 181 EO/non-meteorology satellites were launched; the cost to develop these satellites generated $17.4 billion in manufacturing market revenues. Small Satellite Market by Type (Minisatellite, Microsatellite, Nanosatellite, Pico-Satellites, and Femto Satellites), Application (Imaging and Earth Observations, Satellite Communications, Science & Explorations, Technology Development, and Space Situational Awareness), and End-User (Civil & Commercial and Government & Defense): Global Opportunity Analysis and Industry Forecast, … The space sector has distinguishing features such as the use of cutting edge technologies and longer terms for both project development and return on investments. Global Space Industry Outlook Report 2019-2025: Satellite Manufacturing, Launch Services, Downstream, Ground Stations and Satellite Networks, Value Chain News provided by.
The satellite industry, which accounts for the largest part of the overall space economy, grew by three percent in 2017 to $269 billion, according to the same report.