Frost & Sullivan Thinks Growth Will Come Despite Economic
Downturn
Despite the global financial
crisis, revenue-generating opportunities across the entire space
value chain are expected to increase over the medium to long terms.
However, changing dynamics will impel individual industry
participants within specific sub-sectors toward a more complex
market.
That's the gist of new analysis from Frost & Sullivan Global
Space Industry Stakeholder Mapping, which finds that the
global space market earned revenues of $257.00 billion in 2008 and
is estimated to reach $300.00 billion by 2017.
"Capacity constraints and alternative applications are
dramatically transforming the overall space industry," says Frost
& Sullivan Research Analyst Aman Pannu. "Market participants
who fail to grasp these changes will struggle to survive, unlike
those who have understood them."
While the global space market is currently quite open and
accessible, the drive to increase capabilities within market
offerings is pushing large industry participants to absorb
different elements of the space value chain with strategic
partnerships and mergers and acquisitions (M&As). These
potential 'hyper-players' will eventually dominate increasingly
large swathes of the market, leaving the others to compete for
whatever low-value market scraps are left over.
"Major market participants are beginning to understand how they
can command ever larger portions of the overall market," explains
Pannu. "Without a true understanding of the nature and dynamics of
this market, they will not be able to manipulate the future market
successfully."
Virgin Galactic's SS2 With Mother Ship
EVE
Understanding the potential benefits of strategic partnerships
and alliances and knowing what the market demands in the future
will improve the chances of success for potential market
participants. A clear grasp of the regional and global market as
well as the way business is undertaken will boost revenues in the
long term.
Global Space Industry Stakeholder Mapping is part of the
Aerospace Growth Partnership Services program, which also includes
research in the following markets Global Launch Services Market,
European Defence Strategic Communication Market, Middle East
Strategic and Tactical communication Market. All research services
included in subscriptions provide detailed market opportunities and
industry trends that have been evaluated following extensive
interviews with market participants.