Market Reports and Partnership Agreements
Checking the Top Stories from the Journal of Space Commerce for the Week Ending 10/27
A pair of satellite reports out this week point to rapid growth in GEO and Communications Satellites markets.
The market for geostationary satellites is projected to grow to $8.28 billion by 2031, according to a new report from The Insight Partners. The report credits the growth forecast to the rising demand for satellite-based military communications and broadcasting.
The geostationary satellites market size is expected to reach $ 8.28 billion by 2031, up from $ 6.19 billion in 2023, at a CAGR of 3.7% during the forecast period. Increasing demand for long range communication coverage is one of the major factors driving the growth for the geostationary satellite market. The rising need for longer coverage satellites for satellite-based communication operations is driving the demand for geostationary satellites. Several countries have been pushing their respective investments for the procurement of GEO satellites for scheduled space launch programs.
The communication system segment held a major share of the geostationary satellites market in 2023.
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Speaking of communications satellites, that market is projected to grow from $16.9 billion in 2024 to $33.2 billion by 2029 at a Compound Annual Growth Rate (CAGR) of 14.5% during the forecast period, according to a new report by MarketsandMarkets.
Military and government agencies rely heavily on satellite communication to ensure secure, reliable, and uninterrupted communication in varied operational scenarios, particularly across remote or hostile environments where terrestrial infrastructure is inadequate or nonexistent. Satellite communication provides real-time coordination of military missions, intelligence gathering, and secure transmission of sensitive information across vast distances. It also supports disaster response, border security, and peacekeeping efforts where rapid and dependable communication is critical.
On the civilian side, the broadcasting services segment has been particularly impacted by its convergence with technology, as an increasing number of channels and content are offered to draw in new audiences and opportunities for satellite companies through greater vertical integration. Demand in this area is further supported by the many new compression technology solutions that have emerged.
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A Memorandum of Understanding to explore opportunities in on-orbit satellite servicing and to foster connections between UK and European space industries has been signed between Orbit Fab and D-Orbit UK.
The MoU outlines areas of potential collaboration aimed at promoting shared objectives for expanding orbital economy capabilities and focuses on different areas of cooperation. A first area explores the utilization of D-Orbit’s vehicle fleet to potentially expand Orbit Fab's orbital refueling architecture. This includes examining potential applications for future D-Orbit IOS platforms as a fuel depot in various orbits; investigating use cases for ION Satellite Carrier, D-Orbit’s orbital transfer vehicle (OTV) for last-mile delivery, hosted payloads, and in-space transportation; and considering D-Orbit's small satellite bus for possible future Orbit Fab missions.
A second area focuses on the potential integration of Orbit Fab refueling technologies in D-Orbit's product line and to extend satellite lifetimes. Key areas include: studying the potential integration of Orbit Fab's RAFTI (Rapidly Attachable Fluid Transfer Interface) onto D-Orbit platforms; exploring concepts for refueling contracts for D-Orbit vehicles and customers; discussing possible financial and commercial products to facilitate refueling operations.
In-orbit servicing is an emerging field in the space industry, with potential applications in satellite life extension and space sustainability. This MoU allows both D-Orbit UK and Orbit Fab to explore opportunities in this developing sector.
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A strategic partnership to accelerate the development of lunar infrastructure and enable sustainable long-term space exploration was announced last week by Astroport and Orbit Fab. The two companies made the announcement at the 75th International Aeronautical Congress (IAC), attended by over 8,000 industry and academic experts from 73 member states to explore the topic "Responsible Space for Sustainability."
Astroport and Orbit Fab will collaborate on a range of initiatives, including:
Joint development of lunar surface infrastructure
Advancement of in-space refueling capabilities
Technology demonstration missions
Knowledge exchange and collaboration
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This week on The Ex Terra Podcast, we talked with Philip Hoover-Smoot, CEO of Scout Space about the company's space situational awareness solutions.
Space Domain Awareness, the comprehensive understanding of the space environment, is crucial for ensuring the safety and sustainability of space operations. Scout Space launched its first in-space products and services in 2021, allowing spacecraft to see and understand the things around them while on orbit.
The 27th edition of the Novaspace "Satellites to be Built and Launched” report forecasts that an average of over 3,700 satellites will be launched annually between 2024 and 2033 – equivalent to 10 satellites per day. On the podcast, Hover-Smoot discusses the company's role in developing technology that can autonomously recognize threats and inform spacecraft how to avoid them.