A remarkable technological advancement is revolutionizing the way we maintain and extend the lifespan of satellites in Earth orbit. Welcome to the world of on-orbit satellite servicing, where cutting-edge technology and expertise converge to overcome the challenges of maintaining and upgrading satellites in space."
According to the website Orbiting Now, there are 7,854 satellites currently in Earth Orbit. of those, 7,047 are classified as being in Low Earth Orbit ... with another 211 in Medium Earth Orbit. Most of these satellites were designed for a single mission, and given the constraints of fuel and eventual technical obsolescence, have a limited lifespan. But A growing industry is emerging that would extend the useful lives of satellites, reducing costs and beginning the process of easing the congestion in low- and medium-Earth orbits.
According to MarketsandMarkets, the satellite servicing industry is expected to reach $5.1 billion by 2030; registering a Compound Annual Growth Rate (CAGR) of 11.5 percent during the forecast period. Aging satellite constellations and the need for satellite refueling are driving the growth of the on-orbit satellite servicing market. The Geostationary Orbit (GEO) segment is projected to lead the market during the forecast period. On-orbit servicing allows for repairs and maintenance to be performed on satellites in GEO, which can help address unexpected failures or problems. This can provide greater flexibility and resilience to the satellite operator’s network.
Read More at The Journal of Space Commerce.
On-Orbit Satellite Servicing Becoming a Reality