Space Launch Services Global Market Report 2022: Sector to Reach $42.9 Billion by 2030 at a 14.5% CAGR
DUBLIN, Jan. 3, 2023 /PRNewswire/ — The “Space Launch Services Market Share, Size, Trends, Industry Analysis Report, By Payload; By Launch Platform; By Service Type; By Launch Vehicle; By End Use; By Region; Segment Forecast, 2022 – 2030” report has been added to ResearchAndMarkets.com’s offering.
The global space launch services market size is expected to reach USD 42.9 billion by 2030, according to a new study. The report gives a detailed insight into current market dynamics and provides analysis on future market growth.
Space launch services are a technology-fueled market with a focus on market players over growth strategies such as collaborating with space mission development companies to enable turnkey projects.
Government agency contracting, research grants and privately funded space missions are major factors promoting the growth of space launch services. This has created an increasing number of space missions in recent years with a growth in various new scientific explorations and studies responsible for the growth of the service market.
For instance, in July 2022, an article published by Spaceflight reported the largest number of space rockets launched globally. A total of 72 rockets was sent, which is projected to break the previous year’s 135 orbital launch record. Moreover, SpaceX and China-owned state companies led the number of launches with 37 and 21 launched rockets, respectively. The increasing number of rockets launching activities across the globe is expected the augment the demand for such services.
The growth in the demand for telecommunications and the rising need for high-speed data transfers through the internet among the population has promoted telecommunication market players to enter the space launch services industry to cater to and support the launch of new satellite constellations in GEO and LEO orbits. This is projected to increase the demand for these services in the study period.
For instance, in April 2022, Amazon announced its partnership with United Launch Alliance through its subsidiary Arianespace, Blue Origin. The agreement encompasses 83 space launches over 5 years for the deployment of its 3,236-satellite constellation. The development provides the company with a competitive edge in the telecom industry along with strengthening its market presence in the market.
Space Launch Services Market Report Highlights
- Satellite segment is anticipated to grow at a significant CAGR over the forecast period owing to the rising adoption of small satellites for surveillance and communication purposes along with increasing demand for launching satellite missions in space
- Air segment accounted for a considerable market share, accelerated by some key advantages such as cost efficiency, and saving mass on the craft for fuel
- Pre-launch segment is expected to hold a significant market share over the forecast period due to the increasing trend of outsourcing pre-launch activities by mission facilitators.
- North America is expected to show substantial growth over the projected period on account of the strategic agreements among key market players to launch missions for space exploration and commercial purposes among other missions.
- The global players include Airbus, Antrix Corporation, China Aerospace, Lockheed Martin, Mitsubishi Heavy, Northrop Grumman, Rocket Lab, Safran, and Space Exploration
Drivers and Opportunities
- Growing Regulations and Standardization of Space Travel
- Technological Advancements in Space Launch Services
Restraints and Challenges
- Concern Over Space Debris
The publisher has segmented the space launch services market report based on payload, launch platform, launch vehicle, end-use, and region:
Space Launch Services, Payload Outlook (Revenue – USD Billion, 2018 – 2030)
- Human Spaceflight
- Testing Probes
Space Launch Services, Launch Platform Outlook (Revenue – USD Billion, 2018 – 2030)
Space Launch Services, Launch Vehicle Outlook (Revenue – USD Billion, 2018 – 2030)
- Medium to Heavy
Space Launch Services, End-Use Outlook (Revenue – USD Billion, 2018 – 2030)
- Government & Military
Space Launch Services, Regional Outlook (Revenue – USD Billion, 2018 – 2030)
- North America
- Asia Pacific
- South Korea
- Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa
Key Topics Covered:
2. Executive Summary
3. Research Methodology
4. Global Space Launch Services Market Insights
5. Global Space Launch Services Market, by Payload
6. Global Space Launch Services Market, by Launch Platform
7. Global Space Launch Services Market, by Launch Vehicle
8. Global Space Launch Services Market, by End User
9. Global Space Launch Services Market, by Geography
10. Competitive Landscape
11. Company Profiles
- Airbus S.A.S
- Antrix Corporation Ltd.
- China Aerospace Science
- Technology Corporation
- Lockheed Martin Corporation
- Mitsubishi Heavy Industries
- Northrop Grumman Corporation
- Rocket Lab U.S.A.
- Safran S.A.
- Space Exploration Technologies Corp
For more information about this report visit https://www.researchandmarkets.com/r/a6p762
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SOURCE Research and Markets