The global space launch services market size was valued at $13.9 billion in 2022, and is projected to reach $47.3 billion by 2032, growing at a CAGR of 13.4% from 2023 to 2032.
Report Key Highlights:
- The report covers a detailed analysis on the technology used in the space industry.
- The market has been analyzed from the year 2022 till the year 2032.
- Latest developments have been mentioned in the research study.
- Top companies operating in the industry has been profiled in the research study.
- The research study includes different segments & regions across which the market has been analyzed.
A corporation that specializes in the launch of spacecraft is known as a space launch service provider. Converting, ordering, or constructing the carrier rocket, assembling & stacking, payload integration, and finally completing the launch, all falls under space launch vehicle category. There has been a continuous change in the space launch services industry, with the emergence of new companies and increase in offerings of existing ones. There is a developing market for small satellite launch services, with companies such as Rocket Lab U.S.A., Virgin Orbit, and Astra Space providing dedicated rideshare flights for small satellites, apart from standard launches. Space launch services, ranging from navigation and communication to scientific research and environmental monitoring, are gaining importance in modern society, providing crucial services and capabilities that affect daily lives of human beings.
Space launch services have a wider application across commercial and economic growth, security & defense, disaster response, monitoring the environment, and others. The factors alike increase in government investment in space exploration activities, growing demand for commercial non-geostationary satellite orbit (NGSO) space launches, and increase in satellite launches across the globe supplement the growth of the space launch service market. However, high initial investment associated with space launch services is a factor that restrains the market growth. In addition, focus on price reduction for space launch services through product innovation and space tourism creates market opportunities for the key players operating in the space launch service market.
Arianespace, Antrix Corporation, Blue Origin, Eurockot Launch Services, and Mitsubishi Heavy Industries via MHI Launch Services are among space launch service companies around the world. Orbital ATK, Orbital Sciences Corporation, and Stratolaunch Systems are examples of former launch service companies whereas organizations such as NASA, DARPA, JAXA, and ISRO, are government-owned, or government-funded organizations which are offering space launch services market share across the globe.
The space launch service market is segmented on the basis of payload, launch platform, service type, launch vehicle, end user, and region. On the basis of payload, the market is divided into satellite, human spacecraft, cargo, testing probes, and stratollite. On the basis of launch platform, the market has been segmented into land, sea, and air. On the basis of service type, the market is bifurcated into pre-launch and post-launch. Based on launch vehicle, the market is segmented into small launch vehicle and heavy launch vehicle. On the basis of end user, the segment is divided into commercial, government & military. By region, the market is analyzed across North America, Asia-Pacific, Europe, and LAMEA.
The key players operating in the space launch service market include 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, ROSCOSMOS, S7 SPACE, Boeing Corporation.
Increase in government investment in space exploration activities
Space exploration is the process of exploration of outer space while staying at earth. The launch of rockets and satellites, along with the development and operation of human and robotic space missions, design & building of space homes and life support systems, and the scientific study of celestial bodies such as planets, moons, and asteroids are examples of these operations. The analysis of outer space through space exploration programme eases space exploration along with utilization of efficient resources are all examples of space exploration activities. NASA's Artemis program scheduled in 2024, is aimed to send humans back to moon is focused to advance scientific research and develop new technologies for space exploration, as well as lay the foundation for future crewed missions to Mars and beyond. Some of the objectives of the Artemis program include establishing sustainable presence on the moon and creating an outpost known as Getaway, advancing scientific research to understand more about geology and environment.
Moreover, ISRO has launched two spacecrafts, one to the Moon and another to Mars as of April 2023. Moreover, the organization intends to send more such missions to Mars, Moon, and Venus. The forthcoming exploration missions of ISRO include Gaganyaan, the first human space mission of India, Aditya, a solar observation mission, and Chandrayaan-3, its third lunar research mission. Furthermore, ISRO has planned to launch the solar cycles observatory to explore the outer atmosphere of the sun. ISRO plays an important role in the Indian space exploration program, contributing towards knowledge and understanding of the universe beyond earth. This is possible due to the proposal of Indian Government to allocate $15.14 billion to the Indian Space Program for the fiscal year 2023-24. These developments from the governments drive the dreams and expectations of any space organization and launch service.
Increase in demand for commercial non-geostationary satellite orbit (NGSO) space launches
Non-geostationary satellite systems in LEO and MEO have increased their popularity in recent years, due to the growing commercial businesses launching or planning to launch constellations of spacecraft in the outer space. Such launches offer consumers a variety of services, such as high speed internet access, remote sensing, and communication. Project Kuiper of Amazon, Starlink of SpaceX, and OneWeb are examples of commercial organizations that use Non-Geostationary Satellite Orbit (NGSO) constellations. These companies have proposed orbiting thousands of NGSO satellites to provide global coverage and high-speed internet access. Instances of commercial (NGSO) include Project Kuiper, which is a satellite-based broadband initiative led by Amazon. The project is launched with the aim to provide high-speed, low-latency internet connectivity to unserved and underserved communities around the world. The project has received permission for an improved orbital debris mitigation plan, Amazon has been given the green light to build a constellation of 3,236 satellites.
The Federal Communications Commission (FCC), the primary telecommunications services regulator in the U.S., accepted Project Kuiper plan of Amazon in an authorization issued on February 8, 2023. The Satellites is anticipated to operate at altitudes ranging from 590 to 630 Kilometers above the surface of the Earth.
NGSO satellite systems require specialized technology such as modern power systems, efficient communication lines, and precise tracking and positioning systems. SpaceX, Arianespace, and Rocket Lab are among the launch companies competing to put these satellite constellations into orbit. The NGSO space launch industry is anticipated to expand substantially in future, propelled by rise in demand for broadband internet access and other data-intensive applications.
High initial investment associated with space launch services
Cost is a key factor hindering the growth of the space launch services market across the globe, as launching a satellite into space is an expensive task whioch is accompanied by possible launch failure. The cost of a space craft launch depends on several factors such as the manufacturingncost of the launch vehicle and provider, the size and complexity of the satellite, the launch site and facilities required, and any regulatory or legal fees associated with the launch.
The costs of space launch service is expected to prohibit for smaller companies and organizations, which abstains their ability to access space-based services. This is due to the initial costs associated with a space launch service which is expected to be very high and require significant funding to cover the costs of launch facilities, launch vehicle, and satellite construction and testing.
In addition, ongoing costs associated with operating and maintaining a satellite that include costs for telemetry, tracking & control, ground station operations, and other support services are anticipated to be involved once it is in orbit. The cost restraints associated with space launch services are expected to limit the accessibility of space-based services and opportunities, particularly for smaller organizations or countries with limited resources. Addressing these cost constraints is an ongoing challenge for the space industry, and there is ongoing R&D aimed at finding more cost-effective and efficient ways to launch and operate satellites in space.
Focus on price reduction for space launch services through product innovation
The ability to launch payloads into space at a cheaper cost and with new product innovation while retaining safety and reliability is referred to as a cost-effective space launch. Cost-effective launch options are projected to open previously unachievable economic, scientific, and military opportunities. Reusable rockets, for example, such as those developed by SpaceX, Blue Origin, and other businesses, have the potential to dramatically lower costs while increase in launch frequency. Other cost-effective space launch techniques include using smaller rockets, rideshare launches, standardization of launch vehicles and operations, and enhanced automation and efficiency in the launch process. The search for low-cost launch technologies is critical to extending space exploration and utilization in a sustainable and cost-effective manner.
- In January, 2023, Airbus SE has been preparing to deploy the Zephyr, a high-flying aircraft, in 2024. The aircraft offers to operate the high-altitude, long-endurance system in roles including mobile connectivity and persistent earth observation, along with it meets the requirement for the defense operations.
- In March, 2023, Lockheed Martin established Crescent Space Services, which is a lunar infrastructure subsidiary focused on establishing a link between the Earth and Moon. This helps to attract customers who want to join the permanent establishment program in space.
- In December, 2021, Mitsubishi Heavy Industries (MHI) has signed a contract with Inmarsat. MHI successfully launched the first I-6 satellite of Inmarsat by the H-IIA launch vehicle.
- In December, 2022, Northrop Grumman Corporation signed a contract with NASA. North Grumman has to do maintenance on the James Webb telescope until 2027, according to the contract.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the space launch services market analysis from 2022 to 2032 to identify the prevailing space launch services market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the space launch services market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global space launch services market trends, key players, market segments, application areas, and market growth strategies.
Space Launch Services Market Report Highlights
Market Size By 2032
USD 47.3 billion
CAGR of 13.4%
2022 - 2032
By Launch Platform
By Service Type
By Launch Vehicle
By End User
Key Market Players
Rocket Lab USA, Mitsubishi Heavy Industries, LTD, SAFRAN SA, Starsem, SPACEX, China Aerospace Science and Technology Corporation, Lockheed Martin Corporation., Antrix Corporation limited, Northrop Grumman Corporation, Airbus