Dublin, Dec. 05, 2024 (GLOBE NEWSWIRE) -- The "Space Launch Services Market Opportunities and Strategies to 2033" report has been added to ResearchAndMarkets.com's offering.
The global space launch services market reached a value of nearly $9.15 billion in 2023, having grown at a compound annual growth rate (CAGR) of 10.10% since 2018. The market is expected to grow from $9.15 billion in 2023 to $19.23 billion in 2028 at a rate of 16.01%. The market is then expected to grow at a CAGR of 13.05% from 2028 and reach $35.51 billion in 2033.
Going forward, the increasing number of satellites launches, expansion of space programs, rising demand for commercial non-geostationary satellite orbit (NGSO) space launches, strong economic growth in emerging markets and large-scale investments by private firms in space exploration missions will drive the market. Factors that could hinder the growth of the space launch services market in the future include budget constraints and supply chain disruptions.
The space launch services market is segmented by service type into pre-launch services and post-launch services. The pre-launch services market was the largest segment of the space launch services market segmented by service type, accounting for 77.29% or $7.07 billion of the total in 2023. Going forward, the post-launch services segment is expected to be the fastest growing segment in the space launch services market segmented by service type, at a CAGR of 16.26% during 2023-2028.
The space launch services market is segmented by launch platform into land, air and sea. The land market was the largest segment of the space launch services market segmented by launch platform, accounting for 88.49% or $8.1 billion of the total in 2023. Going forward, the sea segment is expected to be the fastest growing segment in the space launch services market segmented by launch platform, at a CAGR of 22.59% during 2023-2028.
The space launch services market is segmented by end use into commercial and military and government. The commercial market was the largest segment of the space launch services market segmented by end use, accounting for 58.36% or $5.34 billion of the total in 2023. Going forward, the commercial segment is expected to be the fastest growing segment in the space launch services market segmented by end use, at a CAGR of 17.07% during 2023-2028.
The space launch services market is segmented by orbit into low earth orbit (LEO), medium earth orbit (MEO), geosynchronous orbit (GEO) and beyond geosynchronous orbit. The low earth orbit market was the largest segment of the space launch services market segmented by orbit, accounting for 75.49% or $6.91 billion of the total in 2023. Going forward, the low earth orbit segment is expected to be the fastest growing segment in the space launch services market segmented by orbit, at a CAGR of 16.99% during 2023-2028.
The space launch services market is segmented by payload into satellites, human spacecraft, cargo, testing probes and other payloads. The satellites market was the largest segment of the space launch services market segmented by payload, accounting for 78.80% or $7.21 billion of the total in 2023. Going forward, the human spacecraft segment is expected to be the fastest growing segment in the space launch services market segmented by payload, at a CAGR of 21.88% during 2023-2028.
North America was the largest region in the space launch services market, accounting for 44.80% or $4.1 billion of the total in 2023. It was followed by Asia-Pacific, Eastern Europe and then the other regions. Going forward, the fastest-growing regions in the space launch services market will be Asia-Pacific and Africa, where growth will be at CAGRs of 17.47% and 16.95% respectively. These will be followed by the Middle East and South America where the markets are expected to grow at CAGRs of 16.41% and 15.67% respectively.
The global space launch services market is highly concentrated, with large players dominating the market. The top ten competitors in the market made up to 77.27% of the total market in 2023. Space Exploration Technologies Corp. (Space X) was the largest competitor with a 25.66% share of the market, followed by Arianespace S.A. (ArianeGroup) with 8.39%, United Launch Alliance (ULA) with 8.19%, Northrop Grumman Corporation with 7.81%, National Aeronautics and Space Administration (NASA) with 7.26%, Blue Origin LLC with 6.23%, Boeing Defense, Space & Security (Boeing Company) with 6.13%, China Aerospace Science And Technology Corporation (China Great Wall Industry Corporation (CGWIC)) with 6.07%, Rocket Lab U.S.A. with 0.79X% and Relativity Space Inc. with 0.74%.
The top opportunities in the space launch services market segmented by service type will arise in the pre-launch services segment, which will gain $7.74 billion of global annual sales by 2028. The top opportunities in the space launch services market segmented by launch platform will arise in the land segment, which will gain $8.35 billion of global annual sales by 2028. The top opportunities in the space launch services market segmented by end use will arise in the commercial segment, which will gain $6.4 billion of global annual sales by 2028.
The top opportunities in the space launch services market segmented by orbit will arise in the low earth orbit segment, which will gain $8.23 billion of global annual sales by 2028. The top opportunities in the space launch services market segmented by payload will arise in the satellite segment, which will gain $7.74 billion of global annual sales by 2028. The space launch services market size will gain the most in the USA at $3.59 billion.
Market-trend-based strategies for the space launch services market include focus on launching new satellites for environmental monitoring and disaster management, collaborations and agreements to foster sustainable space launch missions and offering cost-effective satellite launches to cater to the growing demand.
Player-adopted strategies in the space launch services market include focus on strengthening business operations through strategic partnerships and new space launches.
To take advantage of the opportunities, the analyst recommends the space launch services companies to focus on post-launch services segment for optimal growth, focus on satellite launches for environmental monitoring, focus on cost-effective satellite launch solutions, focus on sustainable space launch collaborations, expand in emerging markets, provide competitively priced offerings, focus on strategic partnerships for promotion, continue to use B2B promotions and focus on the commercial space segment.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 308 |
| Forecast Period | 2023 - 2033 |
| Estimated Market Value (USD) in 2023 | $9.2 Billion |
| Forecasted Market Value (USD) by 2033 | $35.5 Billion |
| Compound Annual Growth Rate | 14.5% |
| Regions Covered | Global |
Major Market Trends
- Launch of New Satellites for Environmental Monitoring and Disaster Management
- Collaborations and Agreements to Drive Sustainable Space Launch Missions
- Focus on Offering Cost-Effective Satellite Launches
Competitive Landscape and Company Profiles
- Space Exploration Technologies Corp. (Space X)
- Arianespace S.a. (ArianeGroup)
- United Launch Alliance (ULA)
- Northrop Grumman Corporation
- National Aeronautics and Space Administration (NASA)
Key Mergers and Acquisitions
- SES S.a. Acquired Intelsat
- Lockheed Martin Acquired Terran Orbital
- Firefly Acquired Spaceflight Inc
- Voyager Space Holdings Acquired The Launch Company
Companies Featured
- Space Exploration Technologies Corp. (Space X)
- Arianespace S.A. (ArianeGroup)
- United Launch Alliance (ULA)
- Northrop Grumman Corporation
- National Aeronautics and Space Administration (NASA).
- Blue Origin LLC.
- Boeing Defense, Space & Security (Boeing Company)
- China Aerospace Science And Technology Corporation (China Great Wall Industry Corporation (CGWIC))
- Rocket Lab U.S.A.
- Relativity Space Inc.
- Deep Blue Aerospace
- OneSpace
- Equatorial Space Systems (ESS)
- Equatorial Launch Australia (ELA)
- Gilmour Space Technologies
- Orienspace
- Galactic Energy
- Skyroot Aerospace Private Limited
- Exolaunch GmbH
- Isar Aerospace Technologies
- Payload Aerospace S.L.
- D-Orbit
- SpaceForest
- Liftero
- Orbital Matter
- PLD Space
- GHGSat
- MDA Ltd.
- Magellan Aerospace Corporation
- Telesat
- Slingshot Aerospace
- Maritime Launch Services Inc.
- The Spaceport Company
- LeoLabs
- SpaceX
- Intelsat S.A.
- L3Harris Technologies, Inc.
- ABL Space Systems
- Exos Aerospace
- Astrobotic Technology
- Sierra Nevada Corporation
- Voyager Space Holdings, Inc.
- Firefly Aerospace
- Vector Launch, Inc
- VENG S.A.
- INVAP S.E.
- Embraer Defesa e Seguranca Participacoes S.A.
- Envisions Space Technology SA
- ENAER
- Tlon Space S.A.
- Al Yah Satellite Communications Company P.J.S.C. (Yahsat)
- Roketsan
- Spacecom, or Space Communication
- Turksat
- Thuraya
- South African National Space Agency (SANSA)
- Solcon Capital
For more information about this report visit https://www.researchandmarkets.com/r/vh21qa
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