Dublin, Oct. 12, 2023 (GLOBE NEWSWIRE) -- The "Space Economy - Thematic Intelligence" report has been added to ResearchAndMarkets.com's offering.
In 2022, the space economy was worth approximately $450 billion. Market estimates suggest it will be worth between $760 billion and $1 trillion by 2030, growing at a compound annual growth rate (CAGR) of between 6% and 10% between 2022 and 2030.
Understand the impact of the space economy theme. Access the latest data on the space economy theme across all sectors. Identify the leading technological advancements increasing investment into the space economy theme. Understand what leading players are doing in the space economy theme.
Space launches used to be rare, memorable events of global significance, such as the Apollo 11 mission that landed on the Moon in 1969. In the future, the launch of rockets capable of taking satellites into orbit will become much more commonplace. SpaceX alone will launch around 90 rockets in 2023.
Key Highlights
Space is no longer the sole domain of governments and incumbent aerospace and defense companies. Technological advances in manufacturing, propulsion, and the launch of rockets have made it much easier and less expensive to venture into space.
Those businesses that pursued emerging opportunities have gained a first-mover advantage. SpaceX was the first private company to launch a spacecraft into orbit and return it safely to Earth. Today, SpaceX is charging clients $67 million per launch of the Falcon 9, its partially reusable medium-lift launch vehicle.
Investor interest, evident gaps in the market, and advancements in space technologies have led to a surge in start-ups entering the space economy in the last five years. Governments, too, see space as an opportunity and are investing in it. In August 2023, India's Chandrayaan-3 was the world's first spacecraft to land on the south pole of the Moon.
In India, the successful landing led to a collective national celebration. Such events are rare. The unforgiving environment of space exploration is matched by the harsh financial reality of developing space technologies, which has made acquisitions of complementary companies, strategic suppliers, and partners more likely.
The sector has become incredibly competitive, with various start-ups developing similar concepts for cost-effective rockets and satellites to rival the aerospace giants. In 2022, Eutelsat and OneWeb merged, while Viasat acquired Inmarsat in 2023. Market consolidation will continue.
Scope
- The space economy can be broadly defined as the full range of activities that create value and benefits for humans while exploring, researching, understanding, managing, and using space.
- Space is an extensive industry, and a vast number of companies are helping drive this new economy.
- From equipment manufacturers to space operations, applications, and services, these comprise many of the world's most technologically advanced and innovative organizations.
Key Topics Covered:
- Executive Summary
- Players
- Technology Briefing
- Trends
- Industry Analysis
- Signals
- Value Chain
- Companies
- Glossary
A selection of companies mentioned in this report includes
- AAC Clyde Space
- Aalyria
- Accenture
- Aerospace Corporation
- Airbus
- Alden Legal
- Allianz
- Altius Space Machines
- Amazon
- Aon
- ArianeGroup
- Arturo.AI
- Astra
- Astranis
- Astroforge
- Astroscale
- ATLAS
- Atomos
- Atrium
- Avio
- Axa
- Axiom Space
- Axipeter
- BAE Systems
- Bain
- BCG
- BlackSky
- Blue Orbit
- Blue Origin
- Boeing
- Booz Allen
- Burges Salmon
- CACI
- Canopius
- CAPE Analytics
- CAS Space
- CASC
- CGI
- ClearSpace
- ClimateX
- Clyde & Co
- CNSA
- Copernicus
- Crescent
- CSA
- CyberOps
- DARPA
- Deloitte
- Descartes Labs
- DLA Piper
- EchoStar (Hughes)
- Energia
- EOS Data Analytics
- ESA
- Euroconsult
- European Center for Space Law
- Eutelsat
- Exolaunch
- Exotrail
- ExpanseInsure
- EY
- FAA
- Fairmont
- FCC
- FieldFisher
- Firefly Aerospace
- GAIT Global
- Galactic Energy
- GalaxySpace
- Gallagher
- Garmin
- General Dynamics
- Geospatial Insight
- Global Space Consulting
- GOMspace
- Hexagon
- HFW
- Hogan Lovells
- Honeywell
- Impulse Space
- Inmarsat
- Intelsat
- Invictus
- Iridium Communications
- iSpace
- ISRO
- JAXA
- Jones Walker
- KARI
- Kongsberg (KSAT)
- KPMG
- L3Harris Technologies
- LandSpace
- Leaf Space
- Leonardo
- Lockheed Martin
- Maana Electric
- Marsh
- Maxar Technologies
- McKinsey
- MDA
- Microsoft
- Millbank
- Moog
- Munich Re
- Nanoracks
- NASA
- NearSpace Launch
- Northrop Grumman
- OBH
- Obruta
- OneWeb
- Orbex
- Orbital Insights
- PA Consulting
- Parker Hannifin
- Planet Labs
- Preligens
- Priamos
- Reaction Engines
- Redwire
- Relativity Space
- Rezatec
- RHEA Group
- Rivada Space
- Rocket Lab
- Roscosmos
- RTX
- Safran
- Satellogic
- SES
- Sierra Nevada (Sierra Space)
- Skyrora
- Skywatch
- Space Pioneer
- Spaceflight
- SpaceKnow
- SpaceLink
- SpaceTec Partners
- SpaceX
- Spire Global
- ST Engineering
- Swift Geospatial
- Taranis
- Telesat Communications
- Telespazio
- TerraMonitor
- Tethers Unlimited
- Thales Alenia Space
- Thales Group
- The Exploration Company
- ThrustMe
- TransAstra
- Trimble
- United Launch Alliance
- US Air Force
- Viasat
- Virgin Galactic
- XingWang
For more information about this report visit https://www.researchandmarkets.com/r/uwmiu0
Source: GlobalData
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