Industrial, Manufacturing & Heavy Industry Market News

Intense competition sparks innovation in space launch service industry according to new research report

Industrial Market Research

Satellites have wide usage across commercial, civil, and military sectors for various applications, such as communication, observation services, navigation, surveillance, and scientific research, among others.

Innovation has been the insignia of the aerospace and defense sector since the launch of Sputnik into the low Earth orbit in 1957. Soon after, within a span of 10 years, humans were sent to the moon.

The sector has prided itself in taking a novel approach towards problems and focusing on consistent technological enhancements. Today, we find that the ability of satellites to transform businesses is only matched by the pace at which the technology is growing.

Technology has ushered in a new era where space is being democratized, as satellites are being used for various services, including communication. The convergence of several factors like the miniaturization of enabling technologies, the need for rapid-response platforms for various applications, such as disaster mitigation and crisis management, launching of a personal satellite into the orbit, and the changing dynamics of space has helped to lower the cost of space launch services.

In addition, the space market of Korea, Japan, and India has been competitive. The foray of private players like Space X into the space launch services market has further intensified the competition.

This has spurred innovation in launch services with the manufacturing of disruptive technologies, which has helped to minimize the total satellite cost. Today, unlike in the past, certain components of the space shuttle or the satellite can be used twice or thrice, as done by companies like Space X.

Due to the reduced development time and launch cost of newer platforms as compared to the conventional large satellites, these platforms are being used in applications ranging from technology demonstrations and biological experiments to space weather research. Numerous academic, government, and commercial entities and pre-college age hobbyists are undertaking small/Nano satellite projects around the world.

It is expected that in the near future, India, too, will send student satellites into space.

Moreover, new space companies are deploying various smaller, less complex, and cheaper satellites than a few large, complex, and costly satellites, which has led to an unexpected increase in the number of satellites being launched. 

Innovation has been the insignia of the aerospace and defense sector since the launch of Sputnik into the low Earth orbit in 1957. Soon after, within a span of 10 years, humans were sent to the moon.

The sector has prided itself in taking a novel approach towards problems and focusing on consistent technological enhancements. Today, we find that the ability of satellites to transform businesses is only matched by the pace at which the technology is growing.

Technology has ushered in a new era where space is being democratized, as satellites are being used for various services, including communication. The convergence of several factors like the miniaturization of enabling technologies, the need for rapid-response platforms for various applications, such as disaster mitigation and crisis management, launching of a personal satellite into the orbit, and the changing dynamics of space has helped to lower the cost of space launch services.

In addition, the space market of Korea, Japan, and India has been competitive. The foray of private players like Space X into the space launch services market has further intensified the competition.

This has spurred innovation in launch services with the manufacturing of disruptive technologies, which has helped to minimize the total satellite cost. Today, unlike in the past, certain components of the space shuttle or the satellite can be used twice or thrice, as done by companies like Space X.

Due to the reduced development time and launch cost of newer platforms as compared to the conventional large satellites, these platforms are being used in applications ranging from technology demonstrations and biological experiments to space weather research. Numerous academic, government, and commercial entities and pre-college age hobbyists are undertaking small/Nano satellite projects around the world.

It is expected that in the near future, India, too, will send student satellites into space.

Moreover, new space companies are deploying various smaller, less complex, and cheaper satellites than a few large, complex, and costly satellites, which has led to an unexpected increase in the number of satellites being launched. 

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