Report Code: A10830 | Pages: NA | Mar 2023 | 2536 Views | ||
Author(s) : sonia M | Tables: NA | Charts: NA |
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The deep space exploration market is expected to grow at a considerable rate during the forecast period owing to the rising number of space expeditions. In addition, the market growth is proliferated by increase in space budgets and various approvals by government agencies of different nations. Moreover, rise in demand for deep space exploration of small satellites and the proliferation of huge investments by private players in the space sector are accelerating the growth of the global deep space exploration market.
Market scope and structure analysis
Report Metric | Details |
 Market size available for years |  2020–2027 |
 Base year considered |  2019 |
 Forecast period |  2021–2027 |
 Forecast revenue |  Value (USD) |
 Segments covered |  Subsystem, Application, and Technology Mode |
 Regions covered | North America (U.S., Canada, and Mexico), Europe (Germany, UK, France, Russia, and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, and Rest of Asia-Pacific), LAMEA (Latin America, Middle East, and Africa) |
 Companies covered | Airbus S.A.S, Space Exploration Technologies Corp. (SpaceX), Sierra Nevada Corporation, The Boeing Company, MAXAR Technologies Inc., Northrop Grumman Corporation, Lockheed Martin Corporation, Masten Space Systems, Nanoracks LLC, and Planetary Resources |
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COVID-19 scenario analysis
Top impacting factors: market scenario analysis, trends, drivers, and impact analysis
The growth of the global deep space exploration market is driven by various factors such as increase in space budgets by various countries, rise in demand for small satellites, and the emergence of new space emergencies across the world. Moreover, the emergence of space drones for space exploration missions fueled by huge investments by private sector companies is accelerating the demand for the deep space exploration market. However, the association of high-costs with deep space exploration missions is likely to hinder the market potential during the forecast period.
The global deep space exploration market trends are as follows:
Rising space expeditions to boost the demand
Rise in the number of space missions planned by various space agencies is fueling the growth of the global deep space exploration market. In addition, the incorporation of technology is fostering the development and application of space exploration systems. These space missions aim at the investigation of various intended celestial bodies such as Earth’s moon, Jupiter’s moons, Saturn’s moons, Mars, the Sun, and the asteroids. Moreover, these missions are intended to understand the properties of the planets along with observing their atmosphere and analyzing the possibility of life at different planets.
Technological advancements to foster the application
Advancements in technology have proliferated the demand for deep space exploration market across the world. In addition, the demand for space exploration technologies arises with the emergence and development of artificial intelligence. Moreover, the incorporation of navigation and guidance technology and solar electric propulsion systems is proliferating the demand for the deep space exploration market. Furthermore, space agencies and major market players are spending huge amounts in research & development activities for consistent improvements in the field of space technology. Such factors are effectively driving the growth of the global deep space exploration market.
Key segments covered
Segments | Subsegments |
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 Application |
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 Technology Mode |
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Key benefits of the report
Questions answered in the deep space exploration market research report:
Deep Space Exploration Market Report Highlights
Aspects | Details |
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By Subsystem |
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By Application |
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By Technology Mode |
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By Region |
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Key Market Players | Airbus S.A.S, Space Exploration Technologies Corp. (SpaceX), Sierra Nevada Corporation, The Boeing Company, MAXAR Technologies Inc., Northrop Grumman Corporation, Lockheed Martin Corporation, Masten Space Systems, Nanoracks LLC, Planetary Resources |
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