Home Miscellaneous Education & Research Global satellite manufacturing market to grow at a CAGR of 5.14%

Global satellite manufacturing market to grow at a CAGR of 5.14%

Dublin: Market research resource, Research and Markets has released its new ‘Global Satellite Manufacturing and Launch Market’ report for 2015-2019. The new report states that the global satellite manufacturing and launch market is expected to grow at a CAGR of 5.14% in the coming 5 years. The report reveals that extensive use of satellites for military surveillance and other defense applications has been pushing market growth. With the growing use of UAVs and modern equipment, the military is in need of more data bandwidth and reliable communication infrastructure. One of the analysts who conducted the research, has stated that the development of all-electric propulsion systems for satellites and reusable space launch vehicles will contribute significantly to market growth. The use of nano and microsatellites in the development of low-cost satellite-based Internet services will also open up opportunities for the market.

Source: Research and Markets