The global space launch services market was valued at $9.88 billion in 2019 and is projected to reach $32.41 billion by 2027, growing at a CAGR of 15.7%from 2020 to 2027.
The space launch services market is associated with the activities carried out by space launch service providers. It consists of a series of events such as ordering, conversion, construction, stacking and assembly, integration of payload, and launch. The entry of private launch service providers resulted into decrease in the launch cost and new technologies marking a new phase in the market.
The increase in number of satellite and testing probe launches actas drivers for the market growth.In addition, the increased government investments and private funds also impact the space launch services market growth significantly.However, high initial costs associated with the launch services acts as a market restraint. Also, the interoperability issues faced by companies discourage the space launch services market growth. The lack of skilled workforce and resistance to adaptability towardnew technologies is one more factor that hampers the space launch services market growth.Meanwhile, efforts to reduce cost of launch services offers a lucrative opportunity for the market players.
The market is segmented on the basis of payload, launch platform, service type, launch vehicle, end-user, and region. By payload, it is divided into satellite [(further segmented into small (less than 1,000 kg) and large satellite (above 1,000 kg)], human spacecraft, cargo, testing probes, and stratollite. By launch platform, it is categorized into land, air, and sea. By service type, it is bifurcated into pre-launch and post launch services. On the basis of launch vehicle, it is classified into small (less than 300 tons) and heavy (more than 300 tons). The end-user segment is divided into government & military and commercial sectors. Region-wise, space launch services market analysis is done across the U.S. Russia, Other European Countries, China, India, Japan, New Zealand, and rest of the World.
KEY BENEFITS FOR STAKEHOLDERS
_ The report provides an extensive qualitative and quantitative analysis of the current trends and space launch services market forecast from 2019 to 2027 to determine the prevailing opportunities
_ A comprehensive analysis of the factors that drive and restrict the space launch services market growth is provided in the study.
_ Porter’s five forces analysis helps analyze the potential of the buyers & suppliers and the competitive scenario of the industry for building strategies.
_ Profiles of leading players operating in the market are provided to understand the competitive scenario.
_ The report provides extensive qualitative insights on the significant segments and regions exhibiting favorable space launch services industry growth and space launch services market trends.
KEY MARKET SEGMENTS
- By Payload
- ·Human Spacecraft
- ·Testing Probes
- By Launch Platform
- By Service Type
- ·Post Launch
- By Launch Vehicle
- ·Small (Less Than 300tons)
- ·Heavy (Above 300 tons)
- By End-User
- ·Government & Military
- By Country
- ·Other European Countries
- ·New Zealand
- ·Rest of the World
Key Market Players
- Antrix Corporation Ltd.,
- Mitsubishi Heavy Industries
- Space Exploration Technologies Corp (SPACEX)
- AIRBUS S.A.S (Arianespace)
- Safran (Arianespace)
- The Boeing Company (United Launch Alliance)
- Lockheed Martin Corp. (United Launch Alliance)
- State Space Corporation ROSCOSMOS
- Rocket Lab USA
- S7 Space (Sea Launch)
- China Aerospace Science and Technology Corporation
- Northrop Grumman Corp.
Other players in the value chain of the market include Astrobotic., Firefly Aerospace, Swedish Space Corporation, Maxar Technologies Inc., Vector Launch, Inc., Virgin Galactic, BLUE ORIGIN, and others.