Space In Orbit Refueling Market is set to experience a significant growth rate | Astroscale, LMO, Altius Space Machines
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Increasing penetration of small satellite technology is a key factor driving market revenue growth
VANCOUVER, BC, CANADA, November 9, 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.
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. For instance, in 2011, NASA delivered a test payload to International Space Station. The robotic refueling missions enabled NASA to develop procedures for practical on-orbit refueling by using replicas of satellite fuel valves, actual fuel to transfer, and a suite of tools that could be operated by station's robotic arm.
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The global Space In Orbit Refueling market report employs an extremely extensive and perceptive process that analyzes statistical data relating to services and products offered in the market. The research study is a pivotal document in understanding the needs and wants of the clients. The report is comprised of significant data about the leading companies and their marketing strategies. The Space In Orbit Refueling industry is witnessing an expansion and change of dynamics owing to the entry of several new players.
The study outlines the rapidly evolving and growing market segments along with valuable insights into each element of the industry. The industry has witnessed the entry of several new players, and the report aims to deliver insightful information about their transition and growth in the market. Mergers, acquisitions, partnerships, agreements, product launches, and joint ventures are all outlined in the report.
Companies profiled in the global Space In Orbit Refueling market:
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 Points Covered in This Section:
Regional contribution
Estimated revenue generation
Vital data and information about the consumption rate in all the leading regional segments
An expected rise in market share
Forecast growth in the overall consumption rate
Some 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.
Segments Covered in this report are:
Propulsion System Outlook (Revenue, USD Million; 2019-2030)
Monopropellant Hydrazine Propulsion Systems
Bipropellant Propulsion Systems
Unified Propulsion Systems
Ion Propulsion Systems
Others
Application Outlook (Revenue, USD Million; 2019-2030)
Earth Observation
Communication
Navigation
Regional Landscape section of the Space In Orbit Refueling report offers deeper insights into the regulatory framework, current and emerging market trends, production and consumption patterns, supply and demand dynamics, import/export, and presence of major players in each region.
The various regions analyzed in the report include:
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)
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A comprehensive analysis of the geographical landscape provides detailed information about various regions across North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
The report offers a competitive landscape of the minimally invasive surgical systems market to assist players to gain insights into the competition scenario. Key companies operating in the market are profiled to provide valuable insights.
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