The space launch services global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Space Launch Services Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The space launch services market size has grown rapidly in recent years. It will grow from $15.23 billion in 2023 to $17.5 billion in 2024 at a compound annual growth rate (CAGR) of 14.9%. The growth in the historic period can be attributed to satellite deployment demands, global telecommunications expansion, national security and defense, commercial space industry growth, space tourism development, market competition and cost reduction.
The space launch services market size is expected to see rapid growth in the next few years. It will grow to $29.66 billion in 2028 at a compound annual growth rate (CAGR) of 14.1%. The growth in the forecast period can be attributed to mars exploration and beyond, lunar exploration initiatives, reusable launch vehicle adoption, global climate monitoring, national space policies and investments, space resource exploration. Major trends in the forecast period include growing commercial space activities, increase in small satellite launches, diversification of launch vehicles, integration of advanced technologies, rapid launch and on-demand services, public-private partnerships.
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Scope Of Space Launch Services Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Space Launch Services Market Overview
Market Drivers –
The increase in satellite launches across the globe is expected to propel the growth of the space launch services market going forward. Satellite launch refers to the transportation of spacecraft from earth’s surface to earth’s atmosphere or into orbits around the earth by using a carrier rocket that can carry a payload of spacecraft. The space launch service is used to improve the capabilities of satellites launched in earth orbits to carry out successful space missions by providing pre-launch and post-launch services such as management services, integration, and logistics, tracking data, telemetry support, cargo services, and others. For instance, according to the Index of Objects Launched into Outer Space, maintained by the United Nations Office for Outer Space Affairs (UNOOSA), there are 8261 individual satellites orbiting the Earth, an increase of 11.84% compared to April 2021. Therefore, the increase in satellite launches across the globe is driving the growth of the space launch services market.
Market Trends –
Technological advancement is the key trend that is gaining popularity in the space launch services market. Major companies are focused on product innovations based on new technologies that could provide better solutions and strengthen their position in the market. For instance, in October 2021, SpinLaunch, a US-based company operating in spaceflight technology development, introduced its Orbital Launch System (OLS), which uses kinetic energy, an energy that a body has because of its mass and speed, known as kinetic energy, to launch a payload into low earth orbit, also known as the suborbital accelerator technology demonstrator. The suborbital accelerator technology uses electric power to spin a small payload that consists of a centrifuge in a vacuum chamber into a chamber with no air resistance or heating of the payload. This enables it to pick up high speeds to propel payloads into the stratosphere by using kinetic energy as compared to traditionally used chemical propulsion.
The space launch services market covered in this report is segmented –
1) By Service Type: Pre-Launch Services, Post-Launch Services
2) By Orbit: Low Earth Orbit, Medium Earth Orbit, Geosynchronous Orbit, Beyond Geosynchronous Orbit
3) By Payload: Satellite, Human Spacecraft, Cargo, Testing Probes, Stratollite
4) By Launch Platform: Land, Air, Sea
5) By End Use: Commercial, Military And Government
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Regional Insights –
North America was the largest region in the space launch services market in 2023. The regions covered in the space launch services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the space launch services market report are Antrix Corporation Limited, Airbus SE, Arianespace SA, Blue Origin LLC, China Aerospace Science and Technology Corporation, China Great Wall Industry Corporation, Eurockot Launch Services GmbH, International Launch Services Inc., International Space Company Kosmotras, Lockheed Martin Corporation, Mitsubishi Heavy Industries Limited, Northrop Grumman Innovation Systems Inc., Rocket Lab USA Inc., Safran SA, Space Exploration Technologies Corporation, Space International Services Inc., Spaceflight Industries Inc., Starsem SA, The Boeing Company, United Launch Services LLC, Firefly Aerospace Inc., Gilmour Space Technologies Pty Ltd., iSpace Inc., Indian Space Research Organisation, Landspace Corp. Ltd., OneSpace Inc., Payload Aerospace S.L., Relativity Space, Roscosmos State Corporation, Sierra Nevada Corporation, Vector Space Systems Inc., Virgin Galactic Holdings Inc., Virgin Orbit LLC
Table of Contents
1. Executive Summary
2. Space Launch Services Market Report Structure
3. Space Launch Services Market Trends And Strategies
4. Space Launch Services Market – Macro Economic Scenario
5. Space Launch Services Market Size And Growth
…..
27. Space Launch Services Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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