An emerging commercial space industry, driven primarily by satellite miniaturization for low Earth orbit (LEO) operation, has disrupted space regimes. With 4,852 satellites in orbit and an expected capacity of 19,282 by 2030, the development of the downstream sector has been influenced by solid space technology advancements and broader global technological evolution.
New York, Sept. 06, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Global Satellite Component Manufacturing Growth Opportunities" - https://www.reportlinker.com/p06318447/?utm_source=GNW
Space 4.0, the adjunct to the fourth industrial revolution, combines various facets of digital technologies—including machine learning (ML), artificial intelligence (AI), blockchain, and cloud computing—to enable scalable business models and the democratization of a NewSpace economy.
Supply chain disruptions caused by COVID-19 and growing demand for miniaturized satellite components have led manufacturers to explore additive manufacturing techniques to reduce production outsourcing, due to the low-volume nature of the satellite market.
Shorter development cycles require flexible, reconfigurable, and supportable commercial-off-the-shelf (COTS) components and systems as a driver for digitalization technologies.
Open innovation and an emerging platform paradigm have spurred an expanding user base across the NewSpace economy.
However, complex regulatory environments reflect decrepit economic fundamentals, as long-term approaches to drive productive digital transformation look to policies, incentives, and financial instruments to support technology incorporation, digital infrastructure, and applicable frameworks.
Collaborative working groups and distributed governance will facilitate the strategic development of space regulations, space-asset insurance, space traffic management, flags of convenience, space militarization, and space resource utilization to ensure sustainable and inclusive space commercialization.
Author: Pravin Pradeep
Read the full report: https://www.reportlinker.com/p06318447/?utm_source=GNW
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