Market Overview
Satellites are systems that are launched into space to provide various services such as communications, telemetry, remote sensing, surveillance, and so on. Satellites are designed specifically as per their intended application. Depending on the type of application, satellites can be segmented as communications satellites, navigation satellites, reconnaissance satellites, remote sensing satellites and so on. Satellites are also classified as LEO satellites, Sun-synchronous Orbit satellites, and GEO satellites, according to the orbit location. Based on the size, the satellites are categorized as large, medium-sized, mini, micro, nano, pico, and femto-satellites.

Competitive Landscape
The key players in the global satellite manufacturing and launch market include Arianespace (France), Airbus Defence and Space (Germany), Boeing Defence, GeoOptics (Canada), Innovative Solutions in Space (Netherlands), ISS Reshetnev (Russia), Lockheed Martin (USA), Orbital ATK (USA), Space & Security (USA), SSL (USA), and ViaSat Inc. (USA).

Market Segmentation
However, there are many challenges associated with design and manufacturing of satellites. Each satellite has to be highly reliable and capable to withstand space environment and launch events while considering the prohibitive cost, safety and certification requirements during the design and build. Also, military and defense segment is one of the major customer segments for the market. The ongoing economic crisis in Europe and defense budget cuts in major markets such as U.S. hamper the growth of the market. Furthermore, there is an increase in space debris because of parts and components for space launch vehicles and the remains of satellites after their end-of-service life. Also, the satellite launch industry suffers from program delays, because of technical, economic or safety reasons.

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Regional Analysis
U.S. and Canada are the major markets in Americas for space-based programs. Both countries have advanced infrastructures and are involved in various space programs. Organizations, such as NASA and SpaceX, in the U.S., are developing new systems that are expected to meet the growing demand for satellites in the future. In the U.S., the demand from military and defense sector has been increasing mainly for navigation, communications, and spy satellites.

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