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(IT-NEWSWIRE.COM, May 01, 2024 ) The report "3D Printed Satellite Market by Component (Antenna, Bracket, Shield, Housing and Propulsion), Satellite Mass (Nano and microsatellite, small satellite, medium and large satellite), Application and Region - Global Forecast to 2030" The 3D printed satellite market is projected to grow from USD 112 million in 2024 to USD 487 million by 2030, at a CAGR of 27.7% from 2024 to 2030. The market has been segmented by satellite mass, components, application, manufacturing technique, and region. The 3D printing satellites market is primarily driven by factors such as ease in the development of customized products and reduction in manufacturing costs and process downtime.
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Based on Application, the communication segment is projected to grow at the highest CAGR during the forecast period.
Based on application, the 3D Printed Satellite Market has been segmented into technology development, communication, navigation, and Earth Observation & Remote Sensing. The communication segment is expected to lead the market during the forecast period. This is driven by the increasing adoption of Low Earth Orbit LEO satellites in modern communication technologies. The emergence of wireless satellite internet and the development of miniature hardware systems are creating numerous opportunities in satellite-enabled communication. A surge in research and development activities focused on communication-related missions is expected to lead to the development of advanced communication systems, leveraging highly sophisticated miniaturized onboard nano, micro, and mini subsystems, along with advanced ground-station technology.
Based on components, the brackets segment is projected to grow at the highest CAGR during the forecast period.
Based on the components, the 3D Printed Satellite Market has been classified into antenna, bracket, shield, housing, and propulsion. The bracket segment is estimated to grow at the highest CAGR during the forecast period. This is due to 3D printing allowing for the creation of custom brackets with intricate designs that perfectly fit specific components and optimize space utilization. This is particularly valuable in mini and nano satellites with limited space.
The North America region is projected to be a high growth potential market during the forecast period.
The 3D Printed Satellite Market market is poised for significant growth, with North America projected to emerge as the region with the high potential for expansion. In North America, government support results in technological innovation and market viability. Government initiatives, particularly in funding, research grants, and strategic partnerships, are backed by agencies such as NASA and DARPA. This plays an instrumental role in expediting the development and deployment of 3D printing technologies.
Key Market Players:
Major space companies such as Northrop Grumman (US), Boeing (US) and Maxar Space Systems (US) are actively involved in developing 3D printing technologies, contributing to innovation and infrastructure development that will support the market growth in this region. The US government, through agencies such as NASA, is investing in R&D of 3D printing technologies. This provides funding and technical expertise to move the technology forward.
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