Wilmington, Delaware, Nov. 15, 2023 (GLOBE NEWSWIRE) -- According to RationalStat’s recent industry report, the Global Space Habitat Market value is estimated at US$ 88.9 million in 2023 and is expected to rise at a strong CAGR of over 8.4% over the forecast period of 2023-2030.
Market Definition, Market Scope, and Report Overview
A space habitat is a man-made facility designed for humans to live and work in space. These habitats, which are often in the form of space stations, colonies on other celestial bodies, or buildings in space that can house humans for extended periods of time, are designed to provide a self-sustaining environment for human life.
The International Space Station (ISS) has been a crucial driver in increasing the technology and understanding required for space habitats. It functions as a microgravity and space environment research laboratory, and the knowledge obtained from its operations has affected the design of future space habitats.
According to a deep-dive market assessment by RationalStat, the global space habitat market has been analyzed on the basis of market segments, including type, application, end user and geography/regions (including North America, Latin America, Western Europe, Eastern Europe, Middle East & Africa, and Asia Pacific). The report also offers global and regional market sizing for the historical period of 2019-2022 and the forecast period of 2023-2030.
- Market intelligence for the global space habitat market covers market sizes on the basis of market value (US$/EUR Million) and volume (Units) by various products/services/equipment, demand assessment across the key regions, customer sentiments, price points, cost structures, margin analysis across the value chain, financial assessments, historical and forecast data, key developments across the industry, import-export data, trade overview, components market by leading companies, etc.
- In addition, the long-term sector and products/services 10-year outlook and its implications on the global space habitat market. It also includes the industry's current state – Production Levels, Capacity Utilization, Tech quotient, etc. Key information will be manufacturing capacity by country, installed base, import volumes, market size, key players, market size, dynamics, market data, insights, etc.
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Global Space Habitat Market: Segmental and Market Share Analysis
- On the basis of type, inflatable segment is expected to be the fastest-growing segment in the global space habitat market. They are lighter and more compact than non-inflatable habitats making them easier to launch into space.
- On the basis of end user, the government segment is currently dominating the global space habitat market. Governments around the world are investing heavily in space exploration and research.
Report Synopsis
| Report Metrics | Details |
| Base Year | 2023 |
| Forecast Period | 2023-2030 |
| Base Year Market Size | US$ 88.9 million |
| Market Size Forecast | US$ 156.3 million |
| Growth Rate | 8.4% |
| Dominant Segment | Inflatable |
| Dominant Region | North America |
| Key Market Drivers |
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| Companies Profiled |
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Competition Analysis and Market Structure
Some leading players adopt various strategies in order to reinforce their market share and gain a competitive edge over other competitors in the market. Mergers & and acquisitions, partnerships and collaborations, and product launches are some of the strategies followed by industry players. Some of the key developments in the global space habitat market include.
- In May 2023, Axiom Space and NanoRacks announced a collaboration to build the world's first commercial space station. That initial expedition will be quickly followed by Vast-1, a four-person trip to the new outpost that might last up to 30 days. Vast-1 will likewise be launched on a Falcon 9, with its occupants riding in a SpaceX Dragon capsule.
Some of the prominent players and suppliers operating and contributing significantly to the global space habitat market growth include AI SpaceFactory, Bigelow Aerospace LLC, Foster + Partners Group Ltd., Instarz LLC, Lockheed Martin Corp., Maxar Technologies Inc., NANORACKS, Northrop Grumman Corp., Sierra Nevada Corp., and The Boeing Co., among others.
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RationalStat has segmented the global space habitat market based on type, application, end user and region
- Global Space Habitat Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Type
- Inflatable
- Non-inflatable
- Global Space Habitat Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Application
- Aerospace industry
- Defense industry
- Global Space Habitat Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by End User
- Government
- Private
- Global Space Habitat Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Region
- North America Space Habitat Market
- US
- Canada
- Latin America Space Habitat Market
- Brazil
- Mexico
- Rest of Latin America
- Western Europe Space Habitat Market
- Germany
- UK
- France
- Spain
- Italy
- Benelux
- Nordic
- Rest of Western Europe
- Eastern Europe Space Habitat Market
- Russia
- Poland
- Hungary
- Other CIS Countries
- Rest of Eastern Europe
- Asia Pacific Space Habitat Market
- China
- Japan
- India
- South Korea
- Australia
- ASEAN
- Indonesia
- Thailand
- Philippines
- Vietnam
- Malaysia
- Rest of ASEAN
- Rest of Asia Pacific
- Middle East & Africa Space Habitat Market
- GCC
- Saudi Arabia (KSA)
- United Arab Emirates (UAE)
- Rest of the GCC
- South Africa
- Nigeria
- Turkey
- Rest of the Middle East & Africa
- GCC
- North America Space Habitat Market
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Key Questions Answered in the Space Habitat Report:
- What will be the market value of the global space habitat market by 2030?
- What is the market size of the global space habitat market?
- What are the market drivers of the global space habitat market?
- What are the key trends in the global space habitat market?
- Which is the leading region in the global space habitat market?
- What are the major companies operating in the global space habitat market?
- What are the market shares by key segments in the global space habitat market?
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Research Methodology
RationalStat has developed a state-of-the-art research methodology to crunch numbers and provide the best possible real-time insights to clients. We combine a varied range of industry experience, data analytics, and experts’ viewpoint to create a research methodology for market sizing and forecasting.
RationalStat combines a mix of secondary sources as well as primary research to assess the market size and develop a forecast. Key steps involved in accurately deriving the market numbers are:
- Defining the problem by understanding the type of market and data required by the client.
- Data gathering and collection through relevant paid databases, publicly available sources, company reports, annual reports, surveys, and interviews.
- Formulating a hypothesis to create market numbers, forecasts, influencing factors, and their relevance.
- Evaluating and analyzing the data by referring to data sources utilized and leveraged.
- Validating, interpreting, and finalizing the data by combining the details gathered from primary and secondary sources with the help of experienced analysts.
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