Fleet Space Technologies transforms satellite manufacturing
Australian manufacturer - Fleet Space Technologies - has announced its application for an AUD$5mn Federal government Modern Manufacturing Initiative (MMI) grant.
How does Fleet Space Technologies plan to use the grant?
If successful, Fleet Space Technologies plans to use the grant to supplement its self-raised AUD$4mn, in order to scale up its operations from building three hand-built nanosatellites a year to mass-producing 50.
“At present, every satellite launched by an Australian company is hand-made, and many of the components come from overseas. Our manufacturing rate is very low. Australia lacks many of the manufacturing capabilities its industry needs to build satellite payloads and the satellites themselves. And we certainly can’t produce them in volume. We want to establish these manufacturing capabilities here in Adelaide so that we can kick-start Australia’s space industry,” said , Co-Founder and CEO at Fleet Space Technologies
In addition, the grant will make Fleet Space Technologies a major satellite manufacturing hub, increasing its employees from 31 to 128 by 2024, with most of the new employees being engineers and specialist satellite assembly technicians.
Spending AUD$12mn since 2015 on research and development (R&D), Fleet Space Technologies has been working to develop “the world’s most advanced beam-steering antenna and to miniaturise its satellites’ communications payload.”
In doing so, Fleet Space Technologies makes it possible to deliver its Nebula space-based data network using a 10kg nanosatellite where previously it was only possible with a 100kg satellite.
With the grant from the MMI, Fleet Space Technologies plans to build a new factory that will have more than double the capacity for R&D and manufacturing. Fleet Space Technologies will also partner with the University of Adelaide’s Institute of Photonics and Advanced Sensing, Redarc Electronics, Hawker Richardson and Lintek to build the industrial capabilities to manufacture the nanosatellites in Australia.
“Winning this grant would mean Fleet Space and its partners can develop and manufacture the smartest parts of future satellites right here in Australia and provide an Australian service to a worldwide customer base. Only a handful of companies worldwide such as SpaceX and Airbus have the capacity to mass-produce satellites. We can join them, if we move quickly,” concluded Nardini.
Four Factory of the Future Market Trends to Keep an Eye on
Global Smart Manufacturing Market
Attributed to the rapid growth in the adoption of automated systems in industrial processes, the is predicted to grow from US$$175bn (2020) to US$303bn by 2026 with a compound annual growth rate (CAGR) of 6.4% between 2019 and 2026.
While COVID-19 has somewhat slowed down the market’s growth, it is expected that by the second to third quarter of 2023 there will be a ‘considerable’ rise in growth for the market.
Key players in the industry: Schneider Electric, General Electric, Siemens, Honeywell International Inc., Rockwell Automation Inc., FANUC Corporation, and Emerson Electric Co.
Industrial Automation Market
Making people’s lives easier, and their work more accurate and effective, the global demand for automated technologies such as robotics - especially in science and technology - is driving its increase in global market value.
Key players in the industry: ABB, Siemens, General Electric, Schneider, Endress+Hauser, Yokogawa, Honeywell, WIKA, Azbil, Fuji Electric, 3D Systems, and HP.
Smart Factory Market
Expected to grow from US$80.1bn (2021) to US$134.9bn by 2026, the - with a CAGR of 11% between 2021 and 2026 - is experiencing growth driven by fiscal policies adopted to keep manufacturing facilities afloat during COVID-19.
Other driving factors include resource optimisation, cost reduction in production operations, increased demand for industrial robotics, rising demand for technologies, and the growing significance of energy efficiency.
Key players in the industry: Emerson Electric Co., General Electric, Rockwell Automation, Inc., Schneider Electric SE, ABB Ltd., Siemens AG, Mitsubishi Electric Corp., Honeywell International Inc., Endress+Hauser AG, and Yokogawa Electric Corp.
Artificial Intelligence (AI) in Manufacturing Market
“It is undeniable that the manufacturing industry is at the forefront of artificial intelligence implementation,” says . “Manufacturers are using AI-powered analytics to increase performance, product quality, and employee protection, from substantial reductions in unplanned downtime to better crafted goods.”