DUBLIN--(BUSINESS WIRE)--The "Europe Satellite and Spacecraft Subsystem Market - Analysis and Forecast, 2023-2033" report has been added to ResearchAndMarkets.com's offering.
The Europe satellite and spacecraft subsystem market based on satellite subsystem is estimated to reach $12.06 billion by 2033 from $2.59 billion in 2022, at a growth rate of 6.78% during the forecast period 2023-2033
The market for satellite and spacecraft subsystems in Europe has grown significantly in recent years as a result of new applications, ongoing technological improvements and substantial investments and a dedicated emphasis on research and development aimed at introducing innovative and cutting-edge solutions. The primary engine of this growth is the commercial space industry, which has shown signs of robust growth and ongoing growth with an unprecedented quantity of satellite launches and a notable rise in the total number of operational satellites in orbit.
Furthermore, collaborative efforts with international partners, including NASA and other space agencies, contribute to the growth of the European launch vehicle, deep space mission, and the advancement in satellite subsystems.
Market Introduction
In recent years, the European satellite and spacecraft subsystem industry has seen significant expansion and advancement. Innovative technologies such as CubeSats, SmallSats, and reusable launch vehicles have been the driving force behind the space sector's expansion. These developments have reduced the cost of developing space systems and launching payloads into orbit, which has drawn interest from a wider spectrum of organizations.
Government organizations and corporate businesses have shown a special interest in the development of SmallSats and CubeSats because they provide more accessible space and open up new business opportunities, such as satellite constellations. SmallSats, which made up around 95% of all satellites launched in 2022, have greatly improved the capabilities of the sector.
Furthermore, satellite constellations are anticipated to play a major factor in the European space market going forward. These constellations guarantee that at all times at least one satellite is reachable from wherever on Earth. This continuous coverage is particularly valuable for applications such as telecommunications, Earth observation, and positioning systems, where uninterrupted connectivity and data acquisition are crucial.
The availability of satellite constellations opens up new opportunities for various industries, including telecommunications, agriculture, climate monitoring, and disaster response, among others.
How can this report add value to an organization?
Growth/Marketing Strategy: The Europe satellite and spacecraft subsystem market has seen major development by key players operating in the market, such as contract, collaboration, and joint venture. The favored strategy for the companies has been contracted to strengthen their position in the global satellite and spacecraft subsystem market
Competitive Strategy: Key players in the Europe satellite and spacecraft subsystem market analyzed and profiled in the study involve major Europe satellite and spacecraft subsystem companies providing subsystems, respectively. Moreover, a detailed market share analysis of the players operating in the Europe satellite and spacecraft subsystem market has been done to help the reader understand how players stack against each other, presenting a clear market landscape.
Additionally, comprehensive competitive strategies such as partnerships, agreements, and collaborations will aid the reader in understanding the untapped revenue pockets in the market.
Analyst's Perspective on Satellite and Spacecraft Subsystem Market
The Principal Analyst states, 'The satellite and spacecraft system market is a rapidly growing market with a lot of potential. The key trends in the market include the increasing demand for satellite-based services in a variety of industries, the growing adoption of small satellites, and the development of new technologies, such as constellations of satellites and reusable launch vehicles
However, there are also some challenges that the market faces, such as the high cost of satellite development and launch, the complex and challenging regulatory environment for satellite operations, and the growing risk of space debris. Stakeholders in the market should focus on developing new technologies that can reduce the cost of satellite development and launch, developing new applications for satellite-based services, and working to address the challenges posed by space debris.'
Key Questions Answered in the Report
- What are the futuristic trends in the Europe satellite and spacecraft subsystem market, and how is the market expected to change over the forecast period 2023-2033?
- How is the market expected to grow during the forecast period 2023-2033?
- What are the key developmental strategies implemented by the key players to sustain in this highly competitive market?
- What is the current and future revenue scenario of the Europe satellite and spacecraft subsystem market?
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 109 |
| Forecast Period | 2023 - 2033 |
| Estimated Market Value (USD) in 2023 | $6.25 Billion |
| Forecasted Market Value (USD) by 2033 | $12.06 Billion |
| Compound Annual Growth Rate | 6.7% |
| Regions Covered | Europe |
Key Topics Covered:
1 Market
1.1 Industry Outlook
1.1.1 New Space Business Scenario: A Growth Factor in the Satellite and Spacecraft Subsystem Market
1.1.2 Impact of 3D Printing: Revolutionizing Space Industry
1.1.3 Changing Landscape of Space Composites
1.1.4 Impact of Commercial-Off-the-Shelf (COTS)Components in Satellite Serial Production
1.1.5 Supply Chain Analysis
1.2 Business Dynamics
1.2.1 Business Drivers
1.2.1.1 Increasing Research and Development Activities for Developing Cost-Efficient Subsystem and Component
1.2.1.2 Rising Demand for Satellite-Based Downstream Services
1.2.2 Business Challenges
1.2.2.1 Impact of Space Radiation on Spacecraft and Astronauts
1.2.2.2 Rising Impact of Cyberattacks on Satellites
1.2.2.3 Evolution of Standardized Satellite and Subsystem Platform
1.2.3 Business Strategies
1.2.3.1 New Product Launches, Developments, and Others
1.2.4 Corporate Strategies
1.2.4.1 Partnerships, Collaborations, Agreements, Contracts, and Others
1.2.4.2 Mergers and Acquisitions
1.2.5 Business Opportunities
1.2.5.1 Growing Developments for Cislunar Programs
2 Region
2.1 Satellite and Spacecraft Subsystem Market (by Region)
2.2 Europe
2.2.1 Market
2.2.1.1 Key Manufacturers and Suppliers in Europe
2.2.1.2 Business Drivers
2.2.1.3 Business Challenges
2.2.2 Application
2.2.2.1 Europe Satellite and Spacecraft Subsystem Market (by End User), Value and Volume Data
2.2.3 Product
2.2.3.1 Europe Satellite and Spacecraft Subsystem Market (by Satellite Subsystem), Value and Volume Data
2.2.3.2 Europe Satellite and Spacecraft Subsystem Market (by Launch Vehicle Subsystem), Value and Volume Data
2.2.4 Europe (by Country)
2.2.4.1 France
2.2.4.2 Germany
2.2.4.3 Russia
2.2.4.4 U.K.
2.2.4.5 Rest-of-Europe
3 Market- Competitive Benchmarking and Company Profile
3.1 Competitive Benchmarking
3.2 Company Profiles
3.2.1 Company Overview
3.2.1.1 Role in the Satellite and Spacecraft Subsystem Market
3.2.1.2 Product Portfolio
3.2.2 Business Strategies
3.2.2.1 New Product Developments and Fundings
3.2.3 Corporate Strategies
3.2.3.1 Partnerships, Collaborations, Contracts, and Agreements
3.2.3.1 Mergers and Acquisitions
3.2.4 R&D Analysis
3.2.5 Analyst View
4 Research Methodology
For more information about this report visit https://www.researchandmarkets.com/r/r2epjy
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