LONDON--(BUSINESS WIRE)--Technavio has announced the top five leading vendors in their recent global electric propulsion satellite market report. This market research report also lists four other prominent vendors that are expected to impact the market during the forecast period.
Competitive vendor landscape
According to the research analysis, the global electric propulsion satellite market is expected to grow at a CAGR of close to 14% during the forecast period. The market is highly competitive, where vendors compete based on the cost of developing electric propulsion technology for satellites, advancement of technologies, overall weight and size of satellite platforms, as well as the reliability of satellites.
To enhance their respective market share, prominent vendors are emphasizing on offering futuristic solutions for both orbital injection and station-keeping process, while ensuring all customer demands are met. The issue associated with the weight of a chemically powered satellite can be substantially addressed by integrating electric propulsion technology, which can theoretically reduce the overall weight of any satellite by up to 40%.
According to Moutushi Saha, a lead analyst at Technavio for space research, “The vendors should also cooperate and work together along with the space launch system developers and service providers. It will help to integrate the entire space mission and help tackle the issues of space launch delays. There is also the growing concern of space debris and respective mitigation measures that are expected to be implemented, including the requirement for deorbiting systems in the miniaturized satellites.”
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Technavio market research analysts identify the following key vendors:
Airbus designs, manufactures, and markets aircraft, helicopters, satellites, commercial space launch vehicles, defense systems, and electronics for the global aerospace and defense industries. Airbus Defence and Space, a division of Airbus, manufactures and supplies satellite and related parts and components globally. The company has a JV with OneWeb, which is currently working on the development of 900 satellites that will be forming a constellation for the provision of high-speed internet services to remote areas across the globe.
Boeing, along with its subsidiaries, manufactures and markets commercial and military aircraft, missile defense, satellites and human spaceflight, and satellite launch vehicles. The company has been assertive in developing or forwarding electric propulsion technologies, which had allowed the accommodation of more number of payloads into a single satellite.
OBH engages in the development of space technology and telematics. The company, primarily through its subsidiary, OHB System, engages in the development of navigation satellites, reconnaissance systems, environment satellites, meteorological satellites, technology testing vehicles, and telecommunications satellites.
Orbital AKT manufactures and supplies aerospace, defense, and aviation-related systems and equipment for government agencies and private stakeholders across the globe. The company, through its space systems business segment, offers small and medium-class satellites that are used for global and regional communications and broadcasting networks, as well as to carry out space-related scientific research. It also develops manned space systems used in Earth's orbit and deep space exploration applications.
Thales offers solutions primarily to the aerospace and defense companies across the globe. Thales, primarily through Thales Alenia Space, engages in space-related activities. Thales Alenia Space is a JV between Thales (67%) and Leonardo (33%). The company's Belgium unit has been engaged in designing power supply systems for over 16 years.
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Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.
Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
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