Pune, India, May 23, 2022 (GLOBE NEWSWIRE) -- The global space launch services market size was USD 12.42 billion in 2021 and touched USD 31.90 billion in 2022. The market is expected to touch USD 38.34 billion in 2029, exhibiting a CAGR of 12.25% during the forecast period. Rising adoption of 3D printing in the space sector and rapid modernization of 3D printed rocket engines foster the market growth. Fortune Business Insights™ presents this information in its report titled “Space Launch Services Market, 2022-2029.”
COVID-19 Impact:
Manufacturing Constraints to Hinder Market Progress
This market is expected to be negatively affected during the COVID-19 pandemic due to manufacturing constraints. The sudden spike in COVID-19 infections led to the imposition of stringent lockdown norms. This factor led to severe supply chain disruptions. Further, the restrictions on transport and travel created raw material shortages, thereby hindering space rocket production. Further, shortage of semiconductors is expected to disrupt spacecraft production, thereby affecting the overall industry. However, lockdown relaxations may allow companies to resume production and enhance their market position.
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List of Key Players Profiled in the Report
- Antrix Corporation Limited (India)
- ArianeGroup SAS (France)
- Lockheed Martin Corporation (U.S.)
- China Great Wall Industry Corporation (China)
- United Launch Alliance (ULA) (U.S.)
- Space International Services (U.S.)
- Space Exploration Technologies Corp. (Space X) (U.S.)
- Mitsubishi Heavy Industries, LTD. (Japan)
- Northrop Grumman Systems Corporation (U.S.)
- Eurockot Launch Service Provider (Germany)
- Blue Origin Enterprises, L.P. (U.S.)
- Spaceflight Industries (U.S.)
Report Scope & Segmentation:
| Report Attribute | Details | ||
| Market size value in 2021 | USD 12.42 Billion | ||
| Revenue forecast in 2029 | USD 38.34 Billion | ||
| Growth Rate | CAGR of almost 12.25% 2022-2029 | ||
| Base Year | 2021 | ||
| Historic Years | 2018 - 2020 | ||
| Forecast Years | 2022 - 2029 | ||
| Segments Covered | By Product Type, By Application, and By Geography | ||
| Forecast Units | Value (USD Billion), and Volume (Units) | ||
| Quantitative Units | Revenue in USD million/billion and CAGR from 2022 to 2029 | ||
| Regions Covered | North America, Europe, Asia Pacific, South America, and Middle East & Africa, and Rest of World | ||
| Countries Covered | Unites States, Canada, Mexico, Unites Kingdom, Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others | ||
| Number of Companies Covered | Companies Covered in Space Launch Services Market are Antrix Corporation Limited (India), ArianeGroup SAS (France), Lockheed Martin Corporation (U.S.), China Great Wall Industry Corporation (China), United Launch Alliance (ULA) (U.S.), Space International Services (U.S.), Space Exploration Technologies Corp. (Space X) (U.S.), Mitsubishi Heavy Industries, LTD. (Japan), Northrop Grumman Systems Corporation (U.S.), Eurockot Launch Service Provider (Germany), Blue Origin Enterprises, L.P. (U.S.), Spaceflight Industries (U.S.) and Other key players | ||
| Report Coverage | Market growth drivers, restraints, opportunities, Porter's five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis. | ||
| Customization Scope | Avail customized purchase options to meet your exact research needs. | ||
Segmentation
By payload, the market is segmented into satellite, stratollite, cargo, human spacecraft, and testing probes. As per orbit type, it is classified into GEO, beyond GEO, LEO, and MEO. Based on launch platform, it is categorized into land, air, and sea. As per vehicle type, it is bifurcated into medium-to-heavy lift launch vehicle and small lift launch vehicle. By end-user, it is divided into commercial and military & government. Geographically, it is clubbed into North America, Europe, Asia Pacific, and the Rest of the World.
Report Coverage
The report provides a detailed analysis of the top segments and the latest trends in the market. It comprehensively discusses the driving and restraining factors and the impact of COVID-19 on the market. Additionally, it examines the regional developments and the strategies undertaken by the market's key players.
Browse Detailed Summary of Research Report with TOC:
https://www.fortunebusinessinsights.com/industry-reports/space-launch-services-market-101931
Driving Factors
Growing Space Programs to Enhance Industry Progress
Space launch services comprise a range of services designed to launch rockets that form satellites into space. Growing space programs are likely to enhance the demand for the product. Further, increasing research and development costs will foster the demand for such services. Moreover, rising partnerships and joint ventures are expected to enhance the demand for the services. In addition, strong demand for re-usable vehicles is expected to drive the space launch services market growth.
However, rising space debris is expected to hinder the market progress in the coming years.
Regional Insights
Allocation of Budgets by Governments to Foster Market Progress in North America
North America is projected to dominate the space launch services market share due to the allocation of budgets by governments. The market size in 2021 stood at USD 4.84 billion in 2021 and is expected to grow considerably in the coming years. Further, the presence of major players such as SpaceX, Lockheed Martin, Blue Origin, and United Launch Alliance is expected to propel the industry growth.
In Asia Pacific, robust demand for surveillance, satellites, communication, and telecommunication may boost space launch services adoption. These factors may propel the industry progress in the coming years.
In Europe, the rising demand for advanced technology is expected to boost space launch services adoption. Moreover, the rising contracts by the European space agency are expected to enhance the industry progress.
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Detailed Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Key Industry Developments – Key Contracts & Agreements, Mergers, Acquisitions and Partnerships
- Latest technological Advancements
- Porters Five Forces Analysis
- Value Chain/Supply Chain Analysis
- Global Space Launch Services Market Analysis, Insights and Forecast, 2018-2029
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Payload
- Satellite
- Stratollite
- Cargo
- Human Spacecraft
- Testing Probes
- Market Analysis, Insights and Forecast – By Orbit Type
- LEO
- MEO
- GEO
- Beyond GEO
- Market Analysis, Insights and Forecast – By Launch Platform
- Land
- Air
- Sea
- Market Analysis, Insights and Forecast – By Vehicle Type
- Small Lift Launch Vehicle
- Medium-to-Heavy Lift Launch Vehicle
- Market Analysis, Insights and Forecast – By End User
- Commercial
- Military & Government
- Market Analysis, Insights and Forecast – By Region
- North America
- Europe
- Asia-Pacific
- Rest of the world
TOC Continued…!
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Competitive Landscape
Prominent Players Participate in Space Launches to Enhance Brand Image
The prominent companies operating in the market participate in space launches to enhance their brand image. For example, Lockheed developed the Advanced Extremely High Frequency (AEHF-6) satellite and launched it from Cape Canaveral Air Force Station, Florida, U.S. The satellite detached from the United Launch Alliance Atlas V 551 in June 2020. This development may enable the company to enhance its sales and bolster its brand image. Further, the adoption of partnerships, mergers, acquisitions, and expansions is expected to enhance the market position.
Key Industry Development
- July 2020- China Great Wall Industry Corporation launched APSTAR-6D Communications that uses LM-3B launch vehicles. It is the 12th communications satellite delivered by China Great Wall Industry Corporation (CGWIC).
Have a Look at Related Research Insights:
Space Propulsion Market Size, Share & COVID-19 Impact Analysis, By Platform (Satellite (Small Satellite, Medium Satellite, and Large Satellite), Launch Vehicles, Rovers/Landers, Capsules/Cargo, and Interplanetary Spacecraft and Probes), By Propulsion Type (Chemical Propulsion, Electric Propulsion, Solar Propulsion, Nuclear Propulsion, and Others), By Component (Thrusters, Electric Propulsion Thrusters, Nozzles, Rocket Motors, and Others), By End-user (Commercial and Government & Defense), and Regional Forecast, 2021-2028
Space Mining Market Size, Share & Industry Analysis, By Phase (Spacecraft Design, Launch, Operation), By Asteroid type (Type C, Type S, Type M, Others), By Application (Construction, Resource Harvesting, 3D Printing, Others) and Regional Forecast, 2022-2029
Space Situational Awareness (SSA) Market Size, Share & COVID-19 Impact Analysis, By Offering (Service and Software), By Object (Mission-Related Debris, Rocket Bodies, Fragmentation Debris, Non-Functional Spacecraft, Functional Spacecraft), By End-User (Commercial, Military, and Government), and Regional Forecast, 2021-2028
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