Space Launch Services Market

Space Launch Services Market Statistics – 2027

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.

Key Benelaunch Platforms For Stakeholders

• 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