New York, NY, Feb. 13, 2023 (GLOBE NEWSWIRE) -- Polaris Market Research has published a new research report titled “Space Launch Services Market Share, Size, Trends, Industry Analysis Report, By Payload (Satellite, Human Spaceflight, Cargo, Testing Probes, and others); By Launch Platform; By Service Type; By Launch Vehicle; By End Use; By Region; Segment Forecast, 2022 - 2030” in its research database.
“According to the latest research study, the global space launch services market size & share are expected to generate revenue of USD 42.9 Billion by 2030 and are estimated to be valued at USD 12.69 billion in 2021, at a compound annual growth rate (CAGR) of 14.5% from 2022 to 2030”.
What are Space Launch Services? How Big is Space Launch Services Market Size & Share?
- Report Overview
Space launch services are services undertaken by every space mission to deliver a satellite into space at a specified orbit. These services are chosen based on the requirement of the mission along with the defined budget for conducting the space expedition. These services involve several operations, including launch planning, payload integration, licensing, launch infrastructure, and launch mission.
The rising number of space test missions launched in earth orbits and outer space is expected to drive the space launch services market size. For instance, in September 2022, the U.S. Space Force unveiled a mission contract with Firefly Aerospace and Millennium Space to mount the Victus Nox mission. Also, the market is expected to achieve high growth owing to the increasing number of rising number for spaceflights.
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(The sample of this report is readily available on request. The report sample contains a brief introduction to the research report, a Table of Contents, a Graphical introduction of regional analysis, Top players in the market with their revenue analysis, and our research methodology.)
Our Sample Report May Includes:
- 2030 Updated Report Introduction, Overview, and In-depth industry analysis.
- 115+ Pages Research Report (Inclusion of Updated Research).
- Provide Chapter-wise guidance on Requests.
- 2022 Updated Regional Analysis with Graphical Representation of Size, Share & Trends
- Includes Updated List of tables & figures.
- Updated Report Includes Top Market Players with their Business Strategy, Sales Volume, and Revenue Analysis.
Key Offerings of the Industry Report
- Assessment of all opportunities and risks in the market.
- Conclusive study about the growth of the market for forthcoming years.
- In-depth understanding of market-particular drivers, and constraints.
- It provides historical and forecasts revenue of the market segments and sub-segments with respect to main geographies and their countries.
- Country-level analysis of the market with respect to the current size and space launch services market forecast.
Some of the Top Market Players Are:
- Airbus
- Antrix Corporation
- China Aerospace Science
- Lockheed Martin
- Mitsubishi Heavy Industries
- Northrop Grumman
- Rocket Lab
- Safran
- Space Exploration
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Market Dynamics
Key Growth Driving Factors
- Increasing demand for space launch services from various end-users to push the market growth
One of the key factors fueling the market growth is the rising usage of small satellites for space exploration activities. The escalating number of space programs by key nations is predicted to positively influence the growth of the space launch services market. The demand for space launch services is soaring due to the growing demand for payload launches from various end-users, such as military organizations, space agencies, commercial and government sectors, defense organizations, and private firms. Further, the introduction of regulations and standardization of space travel is predicted to propel the space launch services industry growth.
Recent Trending influencing the market
The rise in technological advancements for launching satellites and payload integration is favoring the industry expansion
- Growing investments in new projects by leading government-funded space organizations for developing and improving launching equipment are expected to positively favor space launch services market sales. For instance, in August 2022, the National Aeronautics and Space Administration (NASA) announced that it awarded five space launch contracts to SpaceX, with a value of USD 1.4 billion.
- A surge in technological developments, such as preparing launch and transfer vehicles for delivering satellites and payload integration, are some of the major factors that have led to increased adoption of space launch services is one of the prominent factors supporting the market expansion. For instance, in July 2022, the Space company Ariane Group plans to develop reusable space rockets, which are funded by the European Commission (EC) through its Horizon Europe program.
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Segmental Analysis
- Satellite segment is anticipated to show the fastest growth
Based on payload, the satellite segment is likely to grow at the fastest rate owing to the growing number of space missions for launching satellites in Geostationary Earth Orbits (GEO) and Low Earth Orbits (LEO). Increasing adoption of small satellites by key players to match the low budget and fulfill applications of observation and enhancement in satellite communication are some of the major factors supporting the segment growth.
- Air segment held a considerable space launch services market share in 2021
By launch platform, the air segment is estimated to witness significant growth over the forecast period due to the lessen cost of propulsion and higher payload capacity. Also, the air-launch platform has the potential to launch at supersonic speeds while enhancing space travel optimization. Further, technological developments in launching systems to serve the increasing demand for space launch services are predicted to accelerate segment growth.
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Space Launch Services Market: Report Analysis & Scope
| Report Attribute | Details |
| Revenue forecast in 2030 | USD 42.9 Billion |
| Market size value in 2022 | USD 14.48 Billion |
| Expected CAGR Growth | 14.5% from 2022 – 2030 |
| Base Year | 2021 |
| Forecast Year | 2022 - 2030 |
| Top Market Players | Airbus S.A.S, Antrix Corporation Ltd., China Aerospace Science, and Technology Corporation, Lockheed Martin Corporation, Mitsubishi Heavy Industries, Northrop Grumman Corporation, Rocket Lab U.S.A., Safran S.A., Space Exploration Technologies Corp |
| Segments Covered | By Payload, By Launch Platform, By Service Type, By Launch Vehicle, By End User, and By Region |
| Customization Options | Customized purchase options are available to meet any research needs. Explore customized purchase options |
Regional Analysis
- The space launch services market demand in North America is likely to register a significant growth
By geography, North America is expected to grow at a significant rate. This growth can be attributed to the rising number of commercial launch service providers for fulfilling the increasing demand for space missions is anticipated to propel the regional market growth.
Moreover, Europe is predicted to grow during the foreseen period due to the growing technological advancements in the launch technologies as well as a surging number of new participants in the space launch services market space.
Browse the Detail Report “Space Launch Services Market Share, Size, Trends, Industry Analysis Report, By Payload (Satellite, Human Spaceflight, Cargo, Testing Probes, and others); By Launch Platform; By Service Type; By Launch Vehicle; By End Use; By Region; Segment Forecast, 2022 - 2030” with in-depth TOC: https://www.polarismarketresearch.com/industry-analysis/space-launch-services-market
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Recent Developments
- In July 2022, Space Exploration Technologies Corporation (SpaceX) announced a NASA Launch Services (NLS) II contract for the provision of services to launch the Nancy Grace Roman Space Telescope (NGRST) mission.
Polaris Market Research has segmented the space launch services market report based on payload, launch platform, launch vehicle, end-use, and region:
Frequently Asked Questions
- Who are the crucial companies operating the market?
- What are the major industry norms influencing the development of the industry?
- Which is the most propelling country in the industry?
- Which application or product type will obtain progressive development possibilities during the forecast period?
- What is the expected growth rate of the market during the foreseen period?
By Payload Outlook
- Satellite
- Human Spaceflight
- Cargo
- Testing Probes
- Others
By Launch Platform Outlook
- Land
- Air
- Sea
By Launch Vehicle Outlook
- Small
- Medium to Heavy
By End User Outlook
- Government & Military
- Commercial
By Region Outlook
- North America (U.S., Canada)
- Europe (France, Germany, UK, Italy, Netherlands, Spain, Russia)
- Asia Pacific (Japan, China, India, Malaysia, Indonesia, South Korea)
- Latin America (Brazil, Mexico, Argentina)
- Middle East & Africa (Saudi Arabia, UAE, Israel, South Africa)
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