Global 3D Printing in Low Cost Satellite Market Projected to Showcase a CAGR of 56% Through 2021: Technavio

Technavio has published a new report on the global 3D printing in low-cost satellite market from 2017-2021. (Graphic: Business Wire)

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LONDON--()--Technavio analysts forecast the global 3D printing in low cost satellite market to grow to USD 1,576.3 million by 2021 according to their latest report.

The research study by Technavio on the global 3D printing in low cost satellite market for 2017-2021 provides a detailed industry analysis based on the satellite part (antenna, framework, and propulsion system) and geography (the Americas, EMEA, and APAC).

 
3D printing involves the synthesis through the addition of successive layers of materials with the support of computerized control technology to design an object or component. This process allows manufacturers to produce small and micro-components of various shapes and size. The Americas lead the market, holding over 44% of the overall shares, followed by APAC and EMEA.
 

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Technavio analysts highlight the following three factors that are contributing to the growth of the global 3D printing in low cost satellite market:

  • Rise in CubeSat development and deployment
  • Increasing initiatives by government organizations
  • Reduction in satellite manufacturing time

Rise in CubeSat development and deployment

The growing demand for nano and micro satellites has widened the manufacturing bases of satellites to various regions of the world. Many developing nations have shown a keen interest in the utilization of satellites, such as CubeSats (U-class spacecraft), which use enhanced electro-optical/infrared (EO/IR) sensor systems to obtain images of Earth.

CubeSats are tiny satellites that can be customized as per the requirement of the mission. These satellites are 3D-printed or consist of 3D-printed parts and weigh less than three pounds and are approximately eight inches long,” explains Avimanyu Basu, a lead analyst at Technavio for space research.

Increasing initiatives by government organizations

In the recent years, the US Air Force and NASA are involved in the increased implementation of 3D printing satellite parts and components. Various research studies are underway to improve the functioning, manufacturing time, and launch costs of satellites. Also, the National Research Council of Canada (NRC) has appointed an ad hoc committee to study the effects of space-based 3D printing technologies.

The active involvement of the US Air Force, NASA, and NRC is anticipated that other satellite operators, manufacturers, and research institutions will implement 3D printing during the development of their satellite systems, engines, parts, and components.

Reduction in satellite manufacturing time

3D printing has paved the way for cost-efficient and in-time engineering of satellite parts which allows rapid changes in the design of internal features in the satellite. Technavio analysts expect the 3D printing technology to be adopted by a number of satellite manufacturing companies for the design and development of their satellite systems by 2030.

3D printing completely automates the satellite development process, which lessens the satellite manufacturing time. The technology also reduces the manufacturing and launch costs and significantly shortens the manufacturing time. Such advantages are expected to drive the adoption of 3D printing for manufacturing low cost satellites,” says Avimanyu.

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About Technavio

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, resellers, and end-users.

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Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 630 333 9501
UK: +44 208 123 1770
www.technavio.com

Release Summary

Technavio analysts forecast the global 3D printing in low cost satellite market to grow to USD 1,576.3 million by 2021 according to their latest report.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 630 333 9501
UK: +44 208 123 1770
www.technavio.com