NSR Report States That 12000+ Satellites Will Launch in This Decade Alone16th Aug 2020
The NSR report entitled the “Global Satellite Manufacturing and Launch Markets,” forecasted that over 12,000 satellites would be launched this decade alone. Despite the numerous failures this year, one from Iran, two in the US, and three in China, space technology and studies are still rising. Notwithstanding, several more failures – three in 2018 and five in 2019 – are mostly associated with setbacks because of new technology and earliest orbital launches.
Other issues arise from strained supply chain and logistics issues. There is also the current pandemic issue that seen the Rocket Lab’s rocket launch failure. The COVID-19 pandemic has also caused a strain on funding, which is also vital for so many operators. Investors are pulling back, and major funding bodies have had to redirect their money elsewhere. Some delays were due to weather and administrative reasons. For instance, the Ariane 6 has been pushed to launch next year.
After all these issues are resolved; the estimated capital generation from the venture revenue alone will amount to $131.2 billion. The numerous failures over the years may seem a downside to space satellite development, but from another point of view, this is not the case. These failures are a forecast on informing engineers and space satellite developers on what needs to be done to get the ball rolling. A few setbacks are nothing but a pause on the route to success. The promising numbers on the possible revenue generation on the NSR report with a projection of more than 12,000 satellites of a wide range of mass, space development is peaking. The failure of numerous satellites in 2020 means better and more successful ventures in the coming years.