Home / Region / Africa / NSR Predicts Significant Growth of In-Orbit Servicing Market Over Next Decade

NSR Predicts Significant Growth of In-Orbit Servicing Market Over Next Decade

NSR’s In-Orbit Servicing Markets, 2nd Edition (IoSM2) report forecasts $4.5 billion in cumulative revenues from In-Orbit Satellite Services by 2028. While growth is anticipated across all applications in all orbits, GEO satellite life extension will yield the largest share of revenues. As more LEO constellations start to launch, NGEO players represent an emerging target market, with de-orbiting services expected to dominate this segment. However, despite the abundance of opportunities for In-Orbit services, systems will be most constrained by the need for government and legal administration support.

Artist’s concept of the Space Systems Loral satellite in-orbit life extension capability. Image courtesy of Space Systems Loral.

“In-Orbit servicing is a gateway to new opportunities and revenue streams in space,” notes NSR Senior Analyst and report co-author, Shagun Sachdeva. “Options like life extension, robotics, and salvage not only offer immediate cost benefits, but open environmentally positive possibilities, such as debris removal in the near term to recycling components from defunct, de-orbited satellites in the long term.” Over the next decade, In Orbit servicing is expected to be dominated by GEO services– making up 78% of the total revenues according to NSR’s IoSM2.

The lack of strict regulations remains one of the biggest constraints for the In-Orbit Servicing market. Investors are cautious about these services, considering the novelty of the technology and the accompanying lack of policy.

NSR Analyst and report co-author, Leena Pivovarova adds, “Long-term growth will depend on government support, as well as, legal and regulatory requirements coming together to facilitate market expansion.” The small satellite business model is capable of challenging the status quo by bringing in new ideas to derive more performance from existing assets. While early years will face challenges common to any new technology, such as sensitive stakeholders and the need for new regulations to be deployed around liability and communication, once the first in-orbit demonstration is successfully completed, it will raise the confidence level amongst weary shareholders.

With a wide array of options and an even wider assortment of potential benefits, In Orbit Servicing is well positioned for growth over the next decade.

Check Also

"As we look to our future and transition from a period of development into full operations, we needed someone to guide us through this exciting time," said Jim Cantrell, CEO and co-founder of Vector. "Stephanie's proven experience in finance, growth, and strategy for some of the world's largest aerospace companies makes her well-suited to help us achieve our aggressive business goals." Koster joins Vector from Blue Origin where she spent nearly seven years as Director and Treasurer of its domestic and international affiliates. While at Blue, she oversaw finance and business operations for the consolidated companies. Koster has also held senior leadership roles at The Boeing Company, where she was involved in programs pertaining to its global venture capital, corporate venturing & innovation programs, international M&A, corporate development and technology acquisition. "Over the past several years, I've witnessed Vector quickly join the ranks to make a name for itself among the leaders in the small satellite launch industry," said Koster. "As the company continues to forge ahead, I look forward to working alongside the team to meet its goals in the most thoughtful and efficient way possible." The appointment of Vector's new CFO follows its $70 million Series B funding, which is directly contributing to the expansion of its team. As the company dedicates focus toward its first orbital flight from the Pacific Spaceport Complex-Alaska this year, and continues on its mission towards lowering the barriers of entry to space, Koster will be responsible for ensuring Vector's business operations are aligned with these goals.

Vector Names Former Blue Origin Director and Treasurer as New Chief Financial Officer

Vector is welcoming Stephanie Koster to the company’s team as Chief Financial Officer (CFO). Koster …