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• The global industry was valued at US$ 4.4 Bn in 2023
• It is estimated to advance at a CAGR of 14.7% from 2024 to 2034 and reach US$ 19.8 Bn by the end of 2034

Market Introduction

Regional Outlook

Millimeter Wave Technology Market Snapshot

The North American precision turned product manufacturing market is projected to experience significant growth over the forecast period, reaching a value of $XX million by 2033, exhibiting a CAGR of 11.20% from 2025 to 2033. The market's growth is primarily driven by the increasing demand for precision turned products in various end-use industries, such as automotive, electronics, defense, and healthcare. The growing adoption of advanced technologies like CNC (Computer Numerical Control) and automation in manufacturing processes further contributes to market expansion. Key trends shaping the market include the rising demand for smaller, more complex parts, the growing preference for lightweight and durable materials like plastic and steel, and the increasing outsourcing of precision turned product manufacturing by companies to reduce production costs. However, factors such as the availability of cheaper alternatives and the risk of product defects can potentially restrain market growth. Major companies operating in the North American precision turned product manufacturing market include Premier Farnell Corp, Melling Tool Co, Kamatics Corporation, and Sorenson Engineering Inc. Recent developments include: November 2022: Middle market private equity firm One Equity Partners announced the acquisition of precision machining service providers Evans Industries Inc. and Little Enterprises LLC by Momentum Manufacturing Group, a leading North American metal manufacturing services provider. The purchases will extend Momentum's capabilities, increase the company's exposure to mission-critical end markets, and add close to 160 qualified team members., December 2021: A legally binding agreement was signed by the Reutte, Austria-based Plansee Group to buy the Indianapolis-based Mi-Tech Tungsten Metals. Nearly 100 individuals work for Mi-Tech, which is regarded as one of the top manufacturers of tungsten-based goods in the United States. It is strengthening its market position for tungsten goods in North America with the acquisition of Mi-Tech.. Notable trends are: The Manufacturing Sector is Being Transformed by the Internet Of Things (IoT).

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The mechanical energy storage market size has the potential to grow by 58.27 GW during 2021-2025, and the market’s growth momentum will accelerate at a CAGR of 6.01%.

This mechanical energy storage market research report provides a detailed analysis of the market by technology (pumped hydroelectric energy storage, flywheel energy storage, and others) and geography (APAC, Europe, MEA, North America, and South America).

Mechanical Energy Storage Market Size

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Who are the Major Mechanical Energy Storage Market Vendors?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

• ABB Ltd.
• Andritz AG
• Beacon Power LLC
• General Electric Co.
• Gilbert Gilkes & Gordon Ltd.
• Hitachi Ltd.
• Melrose Industries Plc
• Siemens AG
• STORNETIC GmbH
• Toshiba Corp.

The mechanical energy storage market is fragmented and the vendors are deploying growth strategies such as offer high-tech, customized ESS for different end-user applications to compete in the market. Click here to uncover other successful business strategies deployed by the vendors.

The market players also significantly leverage external market drivers such as growing energy storage requirements to achieve growth opportunities. However, factors such as increasing energy storage alternatives will challenge the growth of the market participants. To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

Download a free sample of the mechanical energy storage market forecast report for insights on complete key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

This mechanical energy storage market analysis report also provides detailed information on the upcoming trends and challenges that will influence market growth. This will help companies create strategies to make the most of future growth opportunities.

What are the Key Mechanical Energy Storage Market Drivers and Trends?

The North American Satellite Attitude and Orbit Control System (AOCS) market is experiencing robust growth, driven by increasing demand for advanced satellite technologies across communication, Earth observation, and navigation sectors. The market's compound annual growth rate (CAGR) of 4.96% from 2019 to 2024 indicates a consistent upward trajectory. This growth is fueled by several key factors. Firstly, the burgeoning NewSpace industry, characterized by private investment in space exploration and satellite constellations, is significantly increasing the demand for reliable and efficient AOCS. Secondly, advancements in miniaturization and the development of more sophisticated control algorithms are leading to smaller, lighter, and more cost-effective systems. The growing adoption of LEO (Low Earth Orbit) constellations for broadband internet access is another major driver, as these constellations require numerous satellites, each equipped with a robust AOCS. Finally, government initiatives promoting space-based infrastructure for defense and national security purposes further bolster market demand. The market segmentation reveals significant activity in the 100-500kg satellite mass segment due to its suitability for a variety of applications. The commercial sector dominates the end-user segment, reflecting the increasing private sector involvement in space technologies. While the historical period (2019-2024) shows consistent growth, the forecast period (2025-2033) projects continued expansion, particularly in North America given the significant presence of both established aerospace companies and innovative startups in the region. Challenges such as stringent regulatory requirements and the high cost of space missions remain, but technological innovations and increased private investment are mitigating these restraints. The North American AOCS market is segmented by application (Communication, Earth Observation, Navigation, Space Observation, Others), satellite mass (Below 10 kg, 10-100 kg, 100-500 kg, 500-1000 kg, Above 1000 kg), and orbit class (GEO, LEO, MEO). The substantial investments in LEO constellations for broadband services are driving considerable demand within the 10-100kg and 100-500kg satellite mass segments. The dominance of the commercial sector highlights the private sector's contribution to space exploration. Market players are focusing on developing advanced technologies like AI-powered control systems and improving the reliability and efficiency of their products to meet the growing demands of the NewSpace sector. The United States, as a leading player in the aerospace industry, represents the largest share of the North American market, followed by Canada and Mexico. Future growth will likely be influenced by advancements in sensor technology, improved propulsion systems, and the continued miniaturization of AOCS, leading to more affordable and accessible space technologies. This comprehensive report provides a detailed analysis of the North America Satellite Attitude and Orbit Control System (AOCS) market, offering valuable insights for businesses and stakeholders operating within this dynamic sector. The study period spans from 2019 to 2033, with 2025 serving as the base and estimated year. The report utilizes a robust methodology to forecast market growth from 2025 to 2033, building upon historical data from 2019 to 2024. The market is segmented by application, satellite mass, orbit class, end-user, and key players, offering a granular view of market dynamics. Recent developments include: February 2023: Jena-Optronik announced that it has been selected by satellite constellation manufacturer Airbus OneWeb Satellites to provide the ASTRO CL a Attitude and Orbit Control Systems (AOCS) sensor for the ARROW family of small satellites.December 2022: ASTRO CL, the smallest member of Jena-Optronik's ASTRO star tracker family, has been chosen to support the new proliferated LEO satellite platform at Maxar. Each satellite will carry two ASTRO CL star trackers to enable its guidance, navigation and control.November 2022: NASA's mission Artemis I was equipped with two star sensors by Jena-Optronik GmbH, which would ensure the precise alignment of the spaceship on its way to the Moon.. Notable trends are: OTHER KEY INDUSTRY TRENDS COVERED IN THE REPORT.

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The smart water network market size has the potential to grow by USD 13.99 billion during 2020-2024, and the market’s growth momentum will accelerate during the forecast period.

This report provides a detailed analysis of the market by technology (smart meter, monitoring and control, communication network, and data management) and geography (Europe, North America, APAC, MEA, and South America). Also, the report analyzes the market’s competitive landscape and offers information on several market vendors, including Aquiba Pty Ltd., Arad Group, Badger Meter Inc., Diehl Stiftung & Co. KG, General Electric Co., Honeywell International Inc., Hubbell Inc., International Business Machines Corp., Itron Inc., and Xylem Inc.

Market Overview

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Market Competitive Analysis

The market is fragmented. The vendors in the market are adopting strategic decisions such as acquisitions and partnerships to launch new products or to enhance their product portfolio. The initiation from governments of various countries is supporting vendors to adopt smart water meters which will boost the market growth. Aquiba Pty Ltd., Arad Group, and Badger Meter Inc. are some of the major market participants. Although the need for reducing non-revenue water will offer immense growth opportunities, the vulnerability to cyber-attacks will challenge the growth of the market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

To help clients improve their market position, this smart water network market forecast report provides a detailed analysis of the market leaders and offers information on the competencies and capacities of these companies. The report also covers details on the market’s competitive landscape and offers information on the products offered by various companies. Moreover, this smart water network market analysis report also provides information on the upcoming trends and challenges that will influence market growth. This will help companies create strategies to make the most of future growth opportunities.

This report provides information on the production, sustainability, and prospects of several leading companies, including:

• Aquiba Pty Ltd.
• Arad Group
• Badger Meter Inc.
• Diehl Stiftung & Co. KG
• General Electric Co.
• Honeywell International Inc.
• Hubbell Inc.
• International Business Machines Corp.
• Itron Inc.
• Xylem Inc.

Smart Water Network Market: Segmentation by Geography

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APAC was the largest smart water network market in 2019, and the region will offer several growth opportunities to market vendors during the forecast period. The regulatory authorities and water utilities in the region are adopting smart technologies to streamline water management. The smart water management solutions market along with ICT help will reduce maintenance and repair costs, this, in turn, will significantly drive smart water network market growth in this region over the forecast period.

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Japan's main stock market index, the JP225, rose to 42268 points on September 2, 2025, gaining 0.19% from the previous session. Over the past month, the index has climbed 4.91% and is up 9.26% compared to the same time last year, according to trading on a contract for difference (CFD) that tracks this benchmark index from Japan. Japan Stock Market Index (JP225) - values, historical data, forecasts and news - updated on September of 2025.