Increasing penetration of small satellite technology is a key factor driving market revenue growth
— Emergen Research
VANCOUVER, BC, CANADA, September 20, 2022 /EINPresswire.com/ — The global space in-orbit refueling market size was USD 2.3 Million in 2021 and is expected to register a revenue CAGR of 100.9% during the forecast period, according to latest analysis by Emergen Research. Increasing demand for extending mission longevity, value, and flexibility in the space industry is a key factor driving market revenue growth. In addition, increasing importance and benefits of space exploration is also driving revenue growth of the market. Space exploration activities provide various benefits, for instance, it aids in transforming and improving understanding of medical conditions on Earth, while astronauts are affected by microgravity, radiation, and isolation.
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Rapid advancements in space technologies, such as incorporation of Artificial Intelligence (AI) tools, Internet of Things (IoT)-based components, and others, is contributing to market revenue growth. In addition, innovations in additive manufacturing, in-orbit services, and others are significantly contributing to market revenue growth. Market companies are also focusing on robotic refueling missions and investing in satellite repair services, which aids in reducing equipment downtime and thereby increasing their lifecycle. Space research organizations, such as National Aeronautics and Space Administration (NASA), is also focusing on robotic refueling missions for a long time.
The Space In Orbit Refueling research report also includes an insightful study of the prominent players of the industry along with their business overview, strategic planning, and business expansion plans adopted by them. This assists the readers and business owners in formulating strategic expansion and investment plans. The report focuses on mergers and acquisitions, joint ventures, collaborations, partnerships, corporate and government deals, and others. The report also talks about the expansions these prominent players are vying for in the key regions of the market. The report focuses on a detailed analysis of the technological and product developments undertaken by these companies.
Key players include:
Astroscale, Altius Space Machines, D-Orbit SpA, Lockheed Martin Corporation, LMO, Maxar Technologies, Momentus Inc., Orbit Fab, Inc., Obruta Space Solutions Corp., and Starfish Space.
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Key Highlights From the Report
The bipropellant propulsion systems segment accounted for a significant revenue share in 2021. Increasing applications in orbital satellites and spacecraft is a key factor driving market revenue growth. In addition, market companies are significantly investing in product innovations and improving performance of bipropellant propulsion systems. This is a key factor contributing to market revenue growth.
The communication segment accounted for a significant revenue share in 2021. Increasing demand for high-connectivity satellite connectivity from various end-use industries is a key factor driving revenue growth of the market. Satellite communication plays a key role in multiple industries and is mainly used in business continuity, emergency management, healthcare services, outdoor recreation, and many others. In addition, end-use companies are investing in training their employees and upskilling them with latest hardware and software tools.
The North America market accounted for largest revenue share in 2021. Presence of market companies, such as Lockheed Martin Corporation, Maxar Technologies, and others, is a major factor driving market revenue growth in this region. These companies are significantly investing in expanding their existing capabilities and providing better services.
Emergen Research has segmented into the global Space In Orbit Refueling Market on the workflow, product, type of large molecule, end-user, and region:
Workflow Outlook (Revenue, USD Billion; 2017-2027)
Protein Structure Prediction
Product Outlook (Revenue, USD Billion; 2017-2027)
Consultancy as a Service
Software as a Service (Cloud)
Type of Large Molecule Outlook (Revenue, USD Billion; 2017-2027)
End-User Outlook (Revenue, USD Billion; 2017-2027)
Contract Research Organizations
Academic and Research Institutes
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Additionally, the report covers the analysis of the key players in the industry with a special focus on their global position, financial status, and their recent developments. Porter’s Five Forces Analysis and SWOT analysis have been covered by the report to provide relevant data on the competitive landscape.
Detailed Regional Analysis covers:
North America (U.S., Canada)
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia-Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Objectives of the Report:
Study of the global Space In Orbit Refueling market size by key regions, types, and applications with reference to historical data (2019-2020) and forecast (2022-2030)
Industrial structure analysis of the Space In Orbit Refueling market by identification of various sub-segments
Extensive analysis of key market players along with their SWOT analysis
Competitive landscape bench marking
Analysis of Space In Orbit Refueling market based on growth trends, futuristic outlook, and contribution to the total growth of the market
Analysis of drivers, constraints, opportunities, challenges, and risks in the global Space In Orbit Refueling market
Comprehensive analysis of competitive developments such as expansions, agreements, new product launches, and other strategic alliances
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