Chicago, Aug. 15, 2023 (GLOBE NEWSWIRE) -- The Space Launch Services Market by Mobility, Application (Military, Commercial, Law Enforcement, Federal Law Enforcement), Mode of Operation, Size, System, and Region (North America, Europe, APAC, Middle East and Rest of the World) - Forecast to 2027", The UGV payloads market includes payloads like sensors, Lasers, cameras, motor encoders, articulated arms, radars, GPS antennas, and other payloads, which covers payloads like ammunition mount, power supplies, etc.
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Space Launch Services Market Report Scope:
| Report Metric | Details |
| Estimated Market Size | USD 16.9 billion |
| Projected Market Size | USD 29.6 billion |
| Growth Rate | 15.1% |
| Market size available for years | 2018–2027 |
| Base year considered | 2021 |
| Forecast period | 2022-2027 |
Key Market Players in Space Launch Services Market
- SpaceX (US), Arianespace (France),
- China Aerospace Science and Technology Corporation (China),
- United Launch Alliance (US),
- Northrop Grumman Corporation (US)
“Browse in-depth TOC on "Space Launch Services Market Trends, Growth Drivers"
188 – Tables
45 – Figures
197 – Pages
Driver: Increased deployment of small satellites
Restraint : Lack of dedicated launch vehicles
Opportunity: Technological upgrades in space industry
Challenges: Scarce intellectual assets
Over the past few years, space companies have started production of low-cost small/miniaturized satellites, which enable them to provide services equivalent to major companies that conventionally serve government agencies or public sector industries.
One of the factors responsible for the growth of the satellite industry is the increase in the adoption of small satellites for applications such as Earth observation, communication, and scientific research and the increasing focus on reducing total mission costs.
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Small satellites are carried as secondary payloads and do not have dedicated launch vehicles. Furthermore, as secondary payloads, small satellite missions are restricted by the lack of control of the launch schedule and destination orbit of the vehicle.
This is due to constraints on the volume and pressure of the stored propellant, primarily for the protection of the primary payload, and the requirement of antenna systems for primary payloads, which may restrict the launch of small satellite payloads in more suitable or favorable mission orbits. Moreover, the primary payload may need a pre-programmed orbital velocity and be placed in a specified orbit, limiting launch windows for small satellite missions. This also limits the fulfillment of the mission requirement for small satellites in some applications.
The high development cost of satellites and other spacecraft has always been a major hindrance to the growth of the space industry. Due to technologies, such as the miniaturization of satellites and payloads, manufacturers seek to leverage cost reduction while performing key operations in the value chain.
Defense domains across the globe are also seeking less expensive multifunctional spacecraft. Recoverable launch vehicles are another technology that is a major opportunity for the space industry. Such technologies have made launches easier and cheaper, driving the growth of the space launch services market.
The tremendous success of recent space exploration missions by space agencies in the Asia Pacific, such as the Indian Space and Research Organization (ISRO) and the China National Space Administration (CNSA), can be attributed to a large number of qualified scientists and personnel with relevant key skills in the region. Critical space operations rely heavily on intellectual assets, incorporating research & development, patents, software, human resources, and new organizational structures. These assets are strategic factors in value creation for firms.
Small lift launch segment to command the Space Launch Services Market by launch vehicle, during the forecast period
The small lift launch vehicles (<350,000 KG) segment is expected to reach USD 19,672 million by 2027 at a CAGR of 14.6% from 2022 to 2027. The small lift launch vehicles segment is witnessing high growth, owing to an increase in deployment of small satellites and cube satellites for commercial end users and increasing demand for small satellite constellations.
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