The global Space Launch Services Market size is expected to reach USD 41.31 billion by 2030 and is projected to grow at a CAGR of 14.6% from 2024 to 2030, according to a new report by Grand View Research, Inc. The space industry has undergone a remarkable transformation during the past years, marked by an exponential increase in the demand for launch services. It plays a pivotal role in enabling various missions such as satellite deployment, scientific research, human spaceflight, and exploration of distant celestial bodies. Primarily, the rising demand for satellite-based applications, including communication, earth observation, and navigation, has fueled the need for frequent satellite launches. The deployment of constellations of small satellites for various purposes, such as broadband internet coverage and remote sensing, has further bolstered the demand for cost-effective and responsive launches.
Additionally,
the commercialization of space, with private companies venturing into space
exploration, satellite launches, and tourism, has opened new avenues for space
exploration providers. Technological advancements have been instrumental in
driving the growth of the space industry market. Reusable rocket technology has
emerged as a game changer, allowing significant cost reductions in space launches.
Companies like SpaceX have successfully developed reusable rockets, enabling
them to recover and refurbish significant components, reducing overall launch
costs. Furthermore, the miniaturization of satellites and the advent of small
satellite launchers have revolutionized the industry. These smaller launch
vehicles offer flexible and affordable access to space for small satellites,
enabling a wide range of applications.
The
space launch market is highly competitive, with established players and
emerging entrants vying for a larger market share. Traditional aerospace giants
like SpaceX, United Launch Alliance, and Arianespace dominate the market with
their proven records and established customer base. However, new players such
as Blue Origin and Rocket Lab have disrupted the market with innovative
approaches and competitive pricing. Collaborations and partnerships between
space agencies, governments, and private companies have become increasingly
common. Public-private partnerships have enabled sharing of resources,
knowledge, and infrastructure, leading to accelerated market growth. Moreover,
international cooperation in space exploration, exemplified by initiatives like
the International Space Station and lunar exploration programs, has created new
opportunities for space launch service providers.
Related Press
Release@ Space
Launch Services Market Report
Space Launch Services Market Report Highlights
- Satellites
play a crucial role in a wide range of applications and services that are
essential to contemporary society. From facilitating global communication
networks and enabling weather forecasting to supporting disaster
management and precision navigation systems, satellites serve as vital
components in providing crucial data and connectivity infrastructure
- The small
launch vehicle is being used for various applications such as earth
observation, communication, and satellite constellations has led to a rise
in the demand for small launch vehicles
- The
commercial end-use accounted for the largest market revenue share in 2023
due to the increasing demand for satellite-based services that can be
attributed to the growing need for high-speed internet connectivity, which
has led to the deployment of communication satellites in orbit
- The North
American region has experienced significant growth in the market due to
increasing demand for satellite-based services, and advancements in
technology have been the key drivers of the growth. The commercial sector
has been a major contributor to the growth of space launch services in
North America
- In November
2023, United Launch Alliance launched its first mission in collaboration
with Amazon. This initial launch is the first step in support of
deployment of Amazon’s initiative to provide fast, affordable broadband
service to unserved and underserved communities around the world
Space Launch Services Market
Report Scope
|
Report Attribute |
Details |
|
Market
size value in 2024 |
USD 18.26
billion |
|
Revenue
forecast in 2030 |
USD 41.31
billion |
|
Growth
rate |
CAGR of
14.6% from 2024 to 2030 |
|
Base year
for estimation |
2023 |
|
Historical data |
2018 - 2022 |
|
Forecast period |
2024 - 2030 |
Space Launch Services Market Report Segmentation
Grand
View Research has segmented the space launch services market on the basis of
service type, service payload, launch platform, launch type, launch vehicle,
end-use, and region:
Space Launch Service Type Outlook (Revenue, USD Million,
2018 - 2030)
- Pre-Launch
- Post-Launch
Space Launch Payload Outlook (Revenue, USD Million, 2018
- 2030)
- Satellite
- Cargo
- Human
Spaceflight
- Space Probe
Space Launch Platform Outlook (Revenue, USD Million, 2018
- 2030)
- Land
- Air
- Sea
Space Launch Type Outlook (Revenue, USD Million, 2018 -
2030)
- Re-Usable
- Single-Use
Space Launch Vehicle Outlook (Revenue, USD Million, 2018
- 2030)
- Small Launch
Vehicle
- Medium to
Heavy Launch Vehicle
Space Launch End-use Outlook (Revenue, USD Million, 2018
- 2030)
- Government
- Military
- Commercial
Space Launch Regional Outlook (Revenue, USD Million, 2018
- 2030)
- North
America
- U.S.
- Canada
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- New Zealand
- Latin
America
- Brazil
- Mexico
- Middle East
and Africa (MEA)
- UAE
- South Africa
List of Key Players in the Space Launch Services Market
- SpaceX
- Blue Origin
- Virgin
Galactic
- Rocket Lab
- United
Launch Alliance
- Arianespace
- China
Aerospace Science and Technology Corporation
- Mitsubishi
Heavy Industries
- Eurockot
Launch Services
- Northrop
Grumman
- ExPace
- Firefly
Aerospace
- Relativity
Space
- Orbital ATK
- International
Launch Services
- Antrix
Corporation
- Vector
Launch
- Spaceflight
Industries
- ISRO
- NASA
- Virgin Orbit
- Boeing
Explore Horizon, the world's most expansive market research database
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
Phone: 1-415- 349-0058
Toll Free: 1-888- 202-95196
Email: sales@grandviewresearch.com
For More Information: https://www.grandviewresearch.com
No comments:
Post a Comment