The latest research study “Space Launch Services Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027” by IMARC Group, finds that the global space launch services market size reached US$ 11.32 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 26.62 Billion by 2027 exhibiting a growth rate (CAGR) of 14.50% during 2022-2027.
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Space launch, or lift-off, represents the earliest part of the operations, where the rocket or other vehicles, including floating ships and airborne aircraft, are vertically released from the ground. This process is categorized into pre-launch and post-launch. Space launch services involve various activities, such as conversing, stacking, ordering, assembling, and integrating payload for takeoff, which in turn, assist in decreasing the set-in motion cost. As a result, this process finds widespread applications in space organizations, the government, and military agencies for performing galaxy explorations.
Covid-19 Impact :
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Space Launch Services Market Trends and Drivers:
The introduction of miniaturization in electronic systems to improve small satellites capabilities by reducing the size of several integrated electronics and hardware is primarily driving the space launch services market. Besides this, the escalating need for this process across the commercial, government, military, and defense industries, on account of the increasing number of aircraft and satellite testing during takeoffs, is further augmenting the market growth.
Moreover, the shifting preference of space launch service providers toward smaller satellites over the traditional ones for enabling their development in a shorter time frame at lower costs is also catalyzing the global market. Apart from this, the rising utilization of the commercial-off-the-shelf (COTS) approach by space companies for collecting distributed data and experimentation purposes is acting as another significant growth-inducing factor.
Furthermore, the growing popularity of low earth orbit (LEO)-based processes, including imagery-based intelligence, is anticipated to propel the space launch services market over the forecasted period.
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The report has been segmented the market into following categories:
Breakup by Payload:
- Small Satellite (Less Than 1000 Kg)
- Large Satellite (Above 1000 Kg)
- Human Spacecraft
- Testing Probes
Breakup by Launch Platform:
Breakup by Service Type:
Breakup by Orbit:
- Low Earth Orbit (LEO)
- Medium Earth Orbit (MEO)
- Geosynchronous Orbit
- Polar Orbit
Breakup by Launch Vehicle:
- Small Launch Vehicle
- Heavy Launch Vehicle
Breakup by End User:
- Government and Military
- North America: (United States, Canada)
- Asia Pacific: (China, Japan,India, South Korea, Australia, Indonesia, Others)
- Europe: (Germany, France,United Kingdom, Italy, Spain, Russia, Others)
- Latin America: (Brazil, Mexico, Others)
- Middle East and Africa
List of Major Key Players:
The major players in the market are
- Airbus SE
- Antrix Corporation Limited
- Arianespace SA
- China Great Wall Industry Corporation (China Aerospace Science and Technology Corporation)
- Mitsubishi Heavy Industries Ltd.
- Northrop Grumman Corporation
- S7 Airlines
- Safran S.A.
- Space Exploration Technologies Corp.
- The Boeing Company
Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022- 2027)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.