Report Code: A05716 | Pages: 256 | Apr 2020 | 26124 Views | ||
Author(s) : Pranav P | Tables: 102 | Charts: 65 |
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Pandemic disrupted the entire world and affected many industries.
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Request Now !The global space launch services market size was valued at $9.88 billion in 2019 and is projected to reach $32.41 billion by 2027, growing at a CAGR of 15.7%from 2020 to 2027.
The space launch services market is associated with the activities carried out by space launch service providers. It consists of a series of events such as ordering, conversion, construction, stacking and assembly, integration of payload, and launch. The entry of private launch service providers has resulted in decrease of the launch cost and introduction of new technologies, thereby marking a new phase in the market.
The increase in number of satellite and testing probe launches act as drivers for the space launch services market growth. In addition, the increased government investments and private funds also impact the market growth significantly. However, high initial costs associated with the launch services acts as a market restraint. Also, the interoperability issues faced by companies discourage the market growth. The lack of skilled workforce and resistance to adaptability toward new technologies is one more factor that hampers the market growth. Meanwhile, efforts to reduce cost of launch services offer a lucrative opportunity for the market players which are operating in the space launch services industry. The space launch services market analysis is done by considering all the driving factors responsible for the space launch services market growth globally. Also, the space launch services market forecasted from the year 2020-2027.
Furthermore, the impact of coronavirus pandemic has affected the space industry. In addition, global space related events such as satellite 2020, CABSAT, sea air space, SMi Small Satellites Conference and many others, have either been cancelled or rescheduled. For example, space tech expo and AIxSPACE events that were planned in California and Montreal have been rescheduled to July 2020 & November 2020 respectively. Moreover, Data. Space event in Scotland has also been rescheduled to February 26, 2021. However, despite the current situation, few companies are actively conducting/planning to launch their satellite. For instance, OneWeb, which launched its first large batch of broadband internet satellites in February, still plans to conduct its next launch on March 21, 2020. Similarly, the United Launch Alliance Atlas 5 launch remains scheduled for March 26, 2020 from Florida, because the U.S. Space Forceconsiders its satellite to provide highly secure, nuclear-hardened communications to military forces.
The space launch services market is segmented on the basis of payload, launch platform, service type, launch vehicle, end-user, and region. By payload, it is divided into satellite [(further segmented into small (less than 1,000 kg) and large satellite (above 1,000 kg)], human spacecraft, cargo, testing probes, and stratollite. By launch platform, it is categorized into land, air, and sea. By service type, it is bifurcated into pre-launch and post launch services. On the basis of launch vehicle, it is classified into small (less than 300 tons) and heavy (more than 300 tons).
The end-user segment is divided into government & military and commercial sectors. Country-wise, it is analyzed across the U.S. Russia, Other European Countries, China, India, Japan, New Zealand and Rest of the World.
The major key players operating in the space launch services industry include Antrix Corporation Ltd., Mitsubishi Heavy Industries, Space Exploration Technologies Corp (SPACEX), AIRBUS S.A.S (Arianespace), Safran (Arianespace), The Boeing Company (United Launch Alliance), Lockheed Martin Corp. (United Launch Alliance), State Space Corporation ROSCOSMOS, Rocket Lab USA, S7 Space (Sea Launch), Starsem, China Aerospace Science and Technology Corporation and Northrop Grumman Corp. Other players in the value chain of the market include Astrobotic, Firefly Aerospace, Swedish Space Corporation, Maxar Technologies Inc., Vector Launch, Inc., Virgin Galactic, BLUE ORIGIN, and many more.
The most adopted strategies by key market players are contracts, partnership, and joint venture to stay competitive in the space launch services market. For instance, SpaceXwon a contract to launch two Kazakhstan's satellites through Falcon 9 launch rocket as rideshare with several othersatellites.Also, Lockheed Martin Corp and The Boeing Company entered into a joint venture to form the United Launch Services, LLC. Such steps from the leading players are propelling to the raise the global space launch services market share.
The report provides an in-depth analysis of thespace launch services market forecast along with the current and future market trends.
This report highlights the key drivers, opportunities, and restraints of the market along with the impact analyses during the forecast period.
Porter’s five forces analysis helps analyze the potential of the buyers & suppliers and the competitive scenario of the space launch services industry for building strategies.
A comprehensive analysis of the factors that drive and restrain the marketgrowthis provided in the report.
The qualitative data in this report aims on market dynamics, space launch services market trends, and developments.
The space launch services market size is provided in terms of launch services revenue.
Space Launch Services Market Report Highlights
Aspects | Details |
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By Payload |
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By Launch Platform |
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By Service Type |
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By Launch Vehicle |
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By End User |
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By Country |
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Key Market Players | AIRBUS S.A.S, ANTRIX CORPORATION LIMITED, CHINA AEROSPACE SCIENCE AND TECHNOLOGY CORPORATION, LOCKHEED MARTIN CORPORATION, MITSUBISHI HEAVY INDUSTRIES (MHI), NORTHROP GRUMMAN CORPORATION, ROCKET LAB USA, SAFRAN SA, SPACE EXPLORATION TECHNOLOGIES CORP. (SpaceX), STARSEM, STATE SPACE CORPORATION ROSCOSMOS, S7 SPACE, THE BOEING CORPORATION |
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The space launch services market is heading toward growth expansion phase in its industry life cycle. The increasing number of launches every year carrying payloads such as satellites, cargos and testing probes for orbital, lunar, and interplanetary missions is driving the market. The telecommunication industry is also offering a large growth for launch services owing to increased use of various communication satellites to keep up with the Internet of Things IoT factor. The government and military are increasing the spends in space activities for exploration, navigation, earth observation, national security and surveillance activities offering the launch service contracts and contributing in the space economy. There has been an increased interest of private players in the market since early 2000s. The space economy has witnessed large private investments which are mainly aimed at realizing the high profit promises by the launch services industry. For instance, late Paul Allen, co-founder of Microsoft Corp. founded Stratolaunch Systems Corporation to explore alternative methods, rather than traditional methods of launch. Similarly, Jeff Bezos, founder of Amazon.com, Inc., also founded Blue Origin, LLC in year 2000 with the aim to provide humans private access to space. Meanwhile, the concept of space tourism and companies like Virgin Galactic, SpaceX and Boeing working towards it offers great opportunity for the space launch services industry growth.
The global space launch services market is analyzed based on its prospect and future growth rate. The report highlights numerous factors that influence the growth of the global space launch services market, which include market forecast, drivers, restraints, opportunities, and role of different key players operating in the market.
The global space launch services market is driven by increase in number of satellite & testing probe launches, increased government investments and private funds provides lucrative growth opportunity for the player operating in the global space launch services market.
Among the analyzed geographical countries, U.S is the highest revenue contributor, and the same country is anticipated to create dominance during the forecast period, followed by Russia, China, other European countries, and rest of the world.
A. Global space launch services market was valued at $9,887.9 million in 2019 and is projected to reach $32,418.7 million by 2027, growing at a CAGR of 15.7%from 2020 to 2027.
A. Global space launch services market forcasted from year 2020 to 2027.
A. The report sample/ company profile section for global space launch services market report can be obtained on demand from the website.
A. The market value of global space lauch services market in year 2020 is 11,653.9 millions.
A. By considering all the latest developments, strategies, expenditures, and others factors of the year 2019 been considered which are responible for the evaluation of market size in year 2019.
A. The palyers are actively developing & investing on the research of space through various strategies. For instance, Rocket Lab designed & developed a launch vehicle called Electron which has been approved by NASA. Through Electron, NASA can launch small satellites providing confidence for the nation’s low-cost science, research and exploration payloads.
A. By launch platform type, land is the major revenue contributor for the space launch services market. Additionaly, by service type pre launch service contributes highest to the amrket
A. The increase in number of satellite, investments from the key players operating in this industry as well as rise in infrastructure & technological advancement for the land based satellite launch system and testing probe launches act as drivers for the market growth
A. Among the analyzed geographical regions, currently U.S is dominating the market with the highest revenue in the global market. However, the same and russia is expected to grow at a higher rate during the forcast period, predicting lucrative opportunities .
A. As per the study, by payload segment strotallite segment is influencing the global space launch service market due to their steadily presence in coming years which is contributing significantly fro the growth of market.
A. The launch launch service market experienced a significant negative impact during the COVID-19 pandemic owing to shutdown of various design, and manufactuting facilities with limited operational launch stations.
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