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On-Orbit Services is the term used to describe the observation or modification of a satellite by another spacecraft, also known as the service vehicle, following its initial launch. It covers repairing spacecraft, assembling space stations, to 3Dprinting in space. On-orbit servicing (OOS) includes a collection of new technologies that give users access to satellites after they have been launched. OOS has the potential to change space logistics and resilience completely. For instance, a change in how satellites are designed, launched, and operated will result from the ability to upgrade sensors or add capabilities every few years, navigate without remorse, and examine and repair satellites.
The On-Orbit Services market is becoming more interesting due to decreased satellite launch costs and the rise of LEO orbit programs. Various factors can potentially accelerate or inhibit the increase of on-orbit servicing capabilities and market cases—technological advancements such as automation, computer vision, robotic arms, electric propulsion and laser communications are the most important key drivers for the on-orbit services market growth.
Moreover, Government missions and regulations are helping to develop on-orbit service technologies. Also, increasing demand for broadband and other communication services, the introduction of widespread low latency 5G communication services, an exponential increase of IOT devices and the advancement of drone technology have a positive effect on this market. Insurance providers also push this On-Orbit service market for remote inspection to reduce premiums.
However, due to the technical difficulty of in-space manufacturing, this service is least developed in on-orbit services. Another fact is that countries like Australia may have underlying technology but are not connected with on-orbit services. Except for the U.S., countries like Germany and Spain do not focus on services other than remote inspection.
The COVID-19 pandemic has significantly impacted the On-Orbit Services Market due to economic crises in several high-growth regions during the pandemic. A sharp decline in revenue in the space industry restricted the key players from investing further in satellite repair and safety measures, negatively impacting the OOS market. Also, global disruption in the supply chain industry resulted in reduced production and delayed delivery. But, as the industry is normal again, the OOS market is also experiencing growth in the coming years of the technological boom.
The report will cover the following key insights:
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North American region has captured the most significant market share in the On-Orbit Services Market due to the presence of prominent space solution manufacturers and increasing investment in space research activities. This market is highly consolidated, with a limited number of top players in the North American region, mostly focusing on relocation services.
The European region is one of the growing regions in the forecasted period. Countries like Russia, Luxembourg, and Germany have invested in several on-orbit services through government missions. Asia Pacific region also has the potential to grow due to increasing policies in China, India, and Japan. Japanese Government focused on debris removal and invested hugely in research and development programs to improve lunar capabilities on-orbit services.
The report includes the profiles of key players, such as Airbus, Altius Space Machines, Astroscale, Busek, Chandah Space Technologies, Effective Space, iBOSS, Maxar, Rewire Space, Northrop Grumman Innovation Systems, and Made In Space, Inc., and others.
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