In Space Manufacturing Servicing and Transportation Market Trends, Growth, Size, Share and Forecast 2020-2030
Over the past few decades, the space industry has showcased successful space exploration missions, ranging from satellite launches to planetary explorations. These successful space exploration programs have led to the growing importance of on-orbit servicing. Major space agencies, such as NASA and ESA, are looking toward utilizing the flight systems already launched, to construct large structures in-situ to enable new scientific endeavors and to provide systems that reliably and cost-effectively support the next steps in space exploration.
The increase of defunct satellites poses known hazards to newer satellites of the constellation and may occupy unique and economically valuable orbital real estate that could be recycled for other uses. With the successful accomplishment of a series of Hubble Space Telescope repairs as well as the assembly of the International Space Station, there is a significant potential for the growth of on-orbit services.
The space industry has been dominated by government agencies such as NASA, China National Space Administration (CNSA), Japan Aerospace Exploration Agency (JAXA), and ESA. However, in the past few years, the industry has witnessed the emergence of private players such as Momentus Space, Astroscale, and Atomos Space, which are highly focused on developing space capabilities such as in-space manufacturing, services and transportation.
These companies have demonstrated their in-orbit space service capabilities and have been forming strategic partnerships with both commercial space entities and national space agencies to showcase and develop in-orbit space capabilities. For instance, in September 2020, Momentus Space and Made In Space signed an agreement to jointly develop a robotic spaceflight mission to launch in 2022. Under this agreement, the companies will be mounting a Made In Space robotic arm on a Momentus Vigoride transfer vehicle. With the robotic arm, Vigoride could grab onto a satellite in space to move it to a new orbit. Apart from this, during 2019 and 2020, Momentus Space entered into launch services agreement with companies and national space agencies such as Alba Orbital, ARCA Dynamics, Innovative Space Logistics, and NASA to launch the respective companies’ cubesats into Sun Synchronous Orbit (SSO).
The space industry has been witnessing a significant growth for the past few years. One of the major factors attributing to this growth is the increasing number of satellite launches, particularly small satellites by various players in the industry such as SpaceX, Orbit Fab, and Made In Space. Apart from this, the industry is also looking toward developing in-space manufacturing, servicing, and transportation services that aim to enhance in-space capabilities. Various end users such as commercial players, military organizations, and government space agencies are engaging in contracts and partnerships to demonstrate and develop in-orbit capabilities.
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North America comprises regional markets of the U.S. and Canada. The market for in-space manufacturing, servicing, and transportation is comparatively new and evolving at a constant pace. OOS and in-space manufacturing in the region are growing at a significant pace, which in turn is expected to further raise the demand for in-space services in the coming years. Furthermore, the growth of the in-space shuttle service is anticipated to positively impact the region’s in-space manufacturing, servicing and transportation market during the forecast period. One of the major factors for the significant growth of this region is the presence of major key players operating and offering in-space services in the region.