Flying High for New Space Part II. Space Sectors Likely to Take Off
A strong software development team is vital for a successful take-off amidst the challenges faced by companies navigating the space sectors. It’s more than just understanding the software and hardware of a good mission. Companies must be aware of the ecosystem created by the space sectors and how aerospace engineering is the fertile ground for this equation.
We examined Emerging Trends as the first part of our Flying High for New Space series to better map out this intricate system. Read the first part for a comprehensive overview before delving into this article.
The New Space Sectors likely to take off:
In their report, Deloitte expands on the top space sectors that will attract substantial investments in the next three years. The economic and geopolitical landscape strongly influence these sectors. The list depicts the interplay between global dynamics and the space industry. Ongoing technology trends and advancements also play a significant role in this list:
- National Security
- Satellite communications
- Edge computing and AI
- Earth observation and remote-sensing
Essential factors that influenced the space sectors:
One of the key drivers of this new space race is the increasing demand for satellite services, including communication, imaging, and navigation. Private companies are stepping in to fill this demand, offering new satellite services that are more affordable and accessible than ever before.
An innovation-focused embedded software services approach is how the new space sector thrives.
Deloitte published a report about the exponential growth in the space sector.
Growing demand for satellite-based services:
With the increasing demand for satellite-based services such as communication, navigation, and imaging, the market for satellite integration is expected to grow significantly in the coming years. Private companies are stepping in to meet this demand by offering more affordable and accessible satellite services than ever before. This increased need for satellite services will also drive more launch vehicles to deploy these satellites into orbit.
The rise of small satellites:
The trend towards smaller, more affordable satellites has opened up new opportunities for satellite integration and launch vehicles. Small satellites, often weighing less than 500 kilograms, are becoming increasingly popular for various applications, from Earth observation to telecommunications. These small satellites can be launched using smaller, more cost-effective launch vehicles, driving innovation and competition in the launch vehicle segment.
Surprisingly or not, those smaller satellites created explosive growth in the new space business.
The space industry is seeing rapid growth technologically, from new propulsion systems to 3D printing for rocket components. The AI possibilities also create a different landscape for the industry. These technological advancements make designing and building (software or hardware) more efficient and cost-effective launch vehicles and satellite components possible.
Governments worldwide invest heavily in the space industry, focusing on satellite integration and launch vehicles. This investment drives innovation and growth in these segments, with new companies entering the market and existing companies expanding their capabilities. Considering the political tensions, a strong space sector might be needed.
Potential for new applications:
The space industry is also seeing growth in new applications for satellite integration and launch vehicles, such as space tourism and space-based solar power. These new applications drive demand for innovative solutions and development in the industry.
The space industry is a galaxy of opportunities waiting to be explored, with the potential to create a universe of new jobs and generate astronomical amounts of revenue. But let’s face it; some rocket science is involved, especially regarding challenges. The industry has less stellar aspects, from regulatory hurdles to technological limitations. The cost of launching payloads into Space remains high, and the industry must continue to innovate to find new ways to reduce costs and increase efficiency. To boldly go where no one has gone before, the industry must continue to push the limits and find new ways to cut costs and boost efficiency.
As the new space race heats up, the key factors that will aid those companies that wish to stay ahead in a challenging sector such as Space are reliable partners that maintain the know-how, the output, and the innovative solutions on the same table.
Unlocking Success in the Space Sectors with AROBS Engineering
With smaller satellites, the software must be the same size. The correct answer is embedded software — not ordinary embedded software, but an extraordinary one. Partnering with AROBS Engineering can profit companies in the space sector. AROBS Engineering is an experienced provider of high-quality software and engineering solutions for the space industry.
With a focus on innovation and cutting-edge technology, we are well-positioned to help companies overcome the industry’s challenges and take advantage of their potential. Working with ESA for as many as 11 years has brought extensive knowledge and proper certification.
We are dedicated to accelerating your space ventures and helping you unlock success in this exciting and challenging industry. Contact us below.