A Comprehensive Analysis of the On Orbit Satellite Servicing Market Worldwide (2023 2030)

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A Comprehensive Analysis of the On-Orbit
Satellite Servicing Market Worldwide (2023- 2030)
The report "On-Orbit Satellite Servicing Market
by Service (Active Debris Removal (ADR) and
Orbit Adjustment, Robotic Servicing, Refueling,
Assembly), End User (Military Government,
Commercial), Orbit, Type and Region - Global
Forecast to 2030" The On-orbit satellite
servicing market is estimated to be USD 2.4
billion in 2023 and is projected to reach USD
5.1 billion by 2030, at a CAGR of 11.5 during
the forecast period. Increasing aging satellite
constellations, need for satellite refuelling
are driving the growth of the on-orbit satellite
servicing market. Key Market Players Major
players operating in the
On-orbit market
satellite include
servicing Maxar Astroscale (Japan),
Technologies (US), Holdings Inc.
SpaceLogistics LLC (US), Airbus SE
(Netherlands), and Thales
Alenia Space others. These well-equipped
(France) among companies have manufacturing
facilities and strong distribution networks
across North America, Europe, and Asia
Pacific. Download PDF Brochure _at_ https//www.marke
tsandmarkets.com/pdfdownloadNew.asp?id206789424 B
ased on Service, the Active Debris Removal (ADR)
and Orbit Adjustment segment is expected to grow
at the highest CAGR during the forecast
period. Active debris removal (ADR) technologies
can be used to capture and remove space debris
from orbit, either by deorbiting it back to Earth
or by moving it to a graveyard orbit where it
will not pose a risk to another spacecraft. There
are several different approaches to ADR,
including using robotic arms, nets, tethers, and
harpoons to capture and remove debris. The
benefits of active debris removal include
reducing the risk of collisions between
spacecraft and debris, reducing the amount of
space debris in orbit, and improving the overall
safety and sustainability of space operations.
However, ADR is a complex and challenging
undertaking, requiring advanced technologies and
significant resources. It also raises legal and
ethical questions, such as who is responsible for
cleaning up space debris and how to prevent the
creation of new debris in the future.
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Based on Orbit, 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 the GEO, which can help address
unexpected failures or problems. This can
provide greater flexibility and resilience to the
satellite operator's network. On-orbit servicing
can contribute to the long-term sustainability of
space operations by reducing the amount of space
debris that is generated from the launch and
disposal of new satellites. Based on region, the
North America segment is lead the market during
the forecast period. The North America region is
expected to lead the On-orbit satellite
servicing market in 2023. Canada is an emerging
market, with companies such as MDA Space Ltd.
and Canadensis Aerospace developing advanced
robotic servicing technologies. In November
2020, MDA was awarded a contract by the Canadian
Space Agency to develop a robotic servicing
vehicle for the International Space Station
(ISS). Furthermore, the increasing use of small
satellites and constellations in North America
is expected to drive the demand for on-orbit
satellite servicing, as these satellites require
more frequent maintenance and upgrades to ensure
optimal performance. Overall, the on-orbit
satellite servicing market in North America is
expected to continue to grow as the demand for
satellite communication and data services
increases and as new technologies make it easier
and more cost-effective to service satellites in
orbit. Ask for Sample Report _at_ https//www.markets
andmarkets.com/requestsampleNew.asp?id206789424
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