[SatNews] Research and Markets has announced the addition of the "Global Satellite Manufacturing and Launch Market 2015-2019" report to their offering.
The analysts forecast the global satellite manufacturing and launch market to grow at a CAGR of 5.14 percent during the period 2014 to 2019.
Satellites are designed specifically for their intended application. Based on application, satellites can be classified as communication satellites, navigational satellites, reconnaissance satellites, remote sensing satellites, and so on. Based on their orbits, satellites can also be classified as LEO satellites, sun-synchronous orbit satellites, and GEO satellites. Based on size, satellites are categorized as large, medium-sized, mini, micro, nano, pico, and femto satellites.
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.
According to the report, the growing use of satellites for military surveillance and other defense applications has been pushing market growth. Along with the growing use of UAVs and modern equipment, the military also needs more data bandwidth and reliable communication infrastructure.
Further, the report states that budget cuts in the military and defense sector especially in Europe and the U.S. will hamper market growth.
For more information, visit http://www.researchandmarkets.com/research/8kfnp8/global_satellite