The Business Research Company’s report on the Space Launch Services Market provides insights into the global market size, growth rate, regional distribution, competitive landscape, key segments, emerging trends, and strategic opportunities.
#How have key drivers contributed to the rapid growth of the space launch services market?
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, in 2023, according to the Organisation for Economic Co-operation and Development, a France-based intergovernmental organization, the number of operational satellites in orbit increased from previous years to over 6,700 by 2022. Therefore, the increase in satellite launches across the globe is driving the growth of the space launch services market.
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How has the space launch services market size evolved, and what are the latest forecasts for its expansion?
The space launch services market size has grown rapidly in recent years. It will grow from $10.34 billion in 2024 to $11.9 billion in 2025 at a compound annual growth rate (CAGR) of 15.1%. 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 $22.18 billion in 2029 at a compound annual growth rate (CAGR) of 16.8%. 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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Which major companies dominate the space launch services market?
Major companies operating in the space launch services market 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.
What trends will shape the future of the space electronics market?
Major companies operating in the space launch services market are focused on developing new innovative products such as satellites to reduce costs and increase access to space. They also explore orbit services and space tourism, expanding the commercial spaceflight sector. A satellite is an object that orbits a larger body, such as a planet or moon. It can be natural (like the moon) or artificial (like communication satellites). For instance, in November 2022, Skyroot Aerospace, an India-based aerospace company, launched a Vikram-S. It’s India’s first privately built rocket. Skyroot Aerospace aims to validate key technologies for future missions while offering cost-effective launch solutions. It marks a significant step towards integrating private players into India’s space ecosystem, promoting innovation and collaboration.
Which region dominates the space launch services market, and what factors contribute to its leadership?
North America was the largest region in the space launch services market in 2024. The regions covered in the space launch services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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How is the space launch services market segmented, and which segment holds the largest share?
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
Subsegments:
1) By Pre-Launch Services: Launch Vehicle Integration, Mission Planning And Design, Payload Processing, Ground Support Equipment Services, Range Safety Services
2) By Post-Launch Services: Data Analysis And Telemetry, Payload Operations, Launch Vehicle Recovery, Mission Support Services, Reporting And Documentation
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What defines the structure and scope of the space launch services market?
Space launch services refer to a range of services provided by organizations to ensure the successful execution of space missions, tailored to meet specific mission requirements. These services are crucial for enhancing the capabilities of satellites and other payloads in space. Space launch services also enable the deployment, operation, and maintenance of satellites, thereby supporting global communication, navigation, and Earth observation systems.
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