As per the BIS Research space database, the global satellite launch forecast estimates 45,131 satellites to be launched within the 2022-2032 timeline.
BIS Research, the global leader in providing market intelligence on deep technologies, has released its latest study titled Satellite Docking System Market – A Global and Regional Analysis.
According to this study, the global satellite docking system market was valued at $40.3 million in 2021 and is projected to reach $1.01 billion by 2032.
The following factors are responsible for the increase in demand for satellite docking system:
- Growing demand for sustainable space operations
- Growing demand for optimizing satellite operation cost
The detailed study is a compilation of 53 market data tables and 49 figures spread through 153 pages.
Check out the detailed table of content here
Analyst’s Take on the Market Projection
According to Nilopal Ojha, Principal Analyst, BIS Research, “The in-orbit refueling services have started few life-extension missions with the help of external propulsion that supports the existing satellite. While the life-extension services have gained traction for the non-cooperative satellite, most satellite manufacturers and operators are looking for more cooperative satellites so that they can be easily refueled in space. With the increasing satellite constellations, companies are expecting more cooperative satellites that can be refueled and get more return on their investment. Since the deployment of refueling, compatible hardware is yet to be deployed across missions. Moving forward, with such hardware being included as part of satellite platforms, the satellite docking mechanism is expected to have huge potential in the coming years. The satellite docking system market will also be driven by startups that are focused on establishing unique use cases to support a range of applications covering Earth-orbit to deep space missions.”
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Refueling to be the Leading Service Type for the Satellite Docking System Market
Commercial operators wish to extend the lifespan of the satellites, which helps them to earn more revenue with the existing satellite. As part of this program, they chose to take advantage of in-orbit services such as refueling, repairing, replacement, inspection, manufacturing, and assembly. To conduct all these in-orbit services, they require a satellite docking system or a space docking station.
As per the study conducted by BIS Research, the service of in-orbit refueling is expected to dominate the market of satellite docking system during the forecast period 2022-2032.
Major Existing Industry Leaders in the Satellite Docking System Market
The companies that are profiled have been selected based on input gathered from primary experts and analyzing company coverage, product portfolio, and market penetration. Some of the established names in the market are
- Altius Space Machines, Inc.
- Astroscale Holdings, Inc.
- Lockheed Martin Corporation
- Northrop Grumman
- Orbit Fab, Inc.
- Rogue Space Systems Corporation
- Starfish Space
- D-Orbit SpA
- High Earth Orbit Robotics
- Maxar Technologies
- Momentus Inc.
- Obruta Space Solutions Corp.
- Orbit Recycling
- Tethers Unlimited, Inc.
Recent Developments in the Global Satellite Docking System Market
- In November 2022, Starfish Space announced that its Otter Pup satellite with high-performance low-thrust electric propulsion, which includes a satellite docking system, is planned to launch in the spring of 2023 to dock with another satellite in the fall of 2023.
- In October 2022, High Earth Orbit (HEO) Robotics collaborated with Satellogic to integrate Satellogic’s growing satellite constellation and high-resolution satellite imagery with HEO’s flyby inspection and computer-vision capabilities.
- In September 2022, Astroscale Holdings, Inc. received funding of $1.79 million from the U.K. Space Agency to develop technologies and capabilities for Cleaning Outer Space Mission through Innovative Capture, which consists of Astroscale’s robotic debris capture capabilities and rendezvous and proximity operations to remove space debris and defunct satellites.
- In May 2022, Momentus Inc. signed a partnership with SpaceX for the integration of its Vigoride Orbital Transfer Vehicle and customer payloads on Falcon 9, which would be used for the transporter-5 mission.
- In April 2022, Lockheed Martin Corporation released an open-source Augmentation System Port Interface (ASPIN), a non-proprietary interface standard to support on-orbit servicing and mission augmentation. It uses Mission Augmentation Port (MAP) interface standard online that provides a mechanical interface design for docking spacecraft to one another.
- In March 2022, Rogue Space Systems Corporation announced that Seldor Capital is their first institutional investor, which helps the company to scale up its engineering and operations teams.
- In November 2021, Astroscale Holdings, Inc. launched a universal docking device for spacecraft, “Docking Plate,” to capture and de-orbit the defunct satellite.
- In September 2021, Starfish Space secured an investment of about $7 million from NFX and MaC Venture Capital along with PSL Ventures, Boost VC, Liquid2 Ventures, and Hypothesis.
- In September 2021, Orbit Fab, Inc. launched its first propellant tanker to geostationary orbit, which has been designed for refueling the largest space assets and for the harshest orbital regimes.